Whitbread plc v UCB Corporate Services Ltd
Whitbread plc v UCB Corporate Services Ltd
- 2000
- Estates Gazette [2000] 35 EG 136-140(5) .
Ca 15 June 2000. Publicans at a public house in West Susses borrowed £160,000 from U for a period of 20 years on an interest only basis. The brewery (W) also lent money to the publicans. In 1987, the publicans charged the public house to secur the money owed to U. In 1988 they also charged the public house to W. U ans W agreed that U would have priority to the money secured by its charged. The property was sold in 1993 and the parties disputed U's entitlement to interest under the deed of priority. Court found in W's favour. U appealed. Appeal allowed.
INTEREST
COMPOUND INTEREST
WHITBREAD PLC V UCB CORPORATE SERVICES LTD
PUBLIC HOUSE
MORTGAGE
Ca 15 June 2000. Publicans at a public house in West Susses borrowed £160,000 from U for a period of 20 years on an interest only basis. The brewery (W) also lent money to the publicans. In 1987, the publicans charged the public house to secur the money owed to U. In 1988 they also charged the public house to W. U ans W agreed that U would have priority to the money secured by its charged. The property was sold in 1993 and the parties disputed U's entitlement to interest under the deed of priority. Court found in W's favour. U appealed. Appeal allowed.
INTEREST
COMPOUND INTEREST
WHITBREAD PLC V UCB CORPORATE SERVICES LTD
PUBLIC HOUSE
MORTGAGE