Morgan Grenfell: council's guarantee prohibited
Council's guarantee ultra vires
Morgan Grenfell & Co v Sutton London Borough Council (1995). (QBD (Clarke J) 23/2/95).
Summary: Local authority's guarantee for unregistered housing association's borrowing ultra vires and void.
Claim by Morgan Grenfell & Co for u790,929 against Sutton London Borough Council under a guarantee and indemnity given by the council in respect of the plaintiff's loan to Wellesley Housing Association dismissed.