Assignment
Assignment
- 1997
- Estates Gazette Case Summaries 1997 EGCS 24 (8/3/97) .
"Associated Newspapers Property Ltd and another v Drapers Co" CA 24 February 1997. A development lease reserved rent accordinging to rents receivable under subleases. The sublease was rendered onerous by a later slump in rental values, so a scheme was devised to extinguish the sublease by process of a merger with the headlease. Decision as to whether the scheme fell within prohibition of arrangements to `commute` rent payable under subleases. Appeal dismissed.
BREACH OF AGREEMENT
HEADLEASE
MERGER
SUBLEASES
"Associated Newspapers Property Ltd and another v Drapers Co" CA 24 February 1997. A development lease reserved rent accordinging to rents receivable under subleases. The sublease was rendered onerous by a later slump in rental values, so a scheme was devised to extinguish the sublease by process of a merger with the headlease. Decision as to whether the scheme fell within prohibition of arrangements to `commute` rent payable under subleases. Appeal dismissed.
BREACH OF AGREEMENT
HEADLEASE
MERGER
SUBLEASES