NCR Ltd v Riverland Portfolio Ltd no.1
NCR Ltd v Riverland Portfolio Ltd no.1
- 2005
- Property, Planning and Compensation Reports [2005] 1 P&CR 3 (13) .
[2004] EWHC 921 (Ch), 2 April 2004. Discusses whether payment of a reverse premium infringes a covenant prohibiting underletting unless at a suitable market rate rent. N had arranged a underlet including payment to the underlessee of a reverse premium. R argued that the underlet was in breach of the covenant, claiming that the premium lowered the actual amount paid as rent. "Held": the payment of a reverse premium was accepted as a way of satisfying headlease conditions. The clause did not expressly prohibit the granting of a reverse premium.
A G SECURITIES V VAUGHAN
HOMEBASE LTD AND ANOTHER V ALLIED DUNBAR ASSURANCE PLC
SNOOK V LONDON AND WEST RIDING INVESTMENTS LTD
NCR LTD V RIVERLAND PORTFOLIO LTD NO 1
[2004] EWHC 921 (Ch), 2 April 2004. Discusses whether payment of a reverse premium infringes a covenant prohibiting underletting unless at a suitable market rate rent. N had arranged a underlet including payment to the underlessee of a reverse premium. R argued that the underlet was in breach of the covenant, claiming that the premium lowered the actual amount paid as rent. "Held": the payment of a reverse premium was accepted as a way of satisfying headlease conditions. The clause did not expressly prohibit the granting of a reverse premium.
A G SECURITIES V VAUGHAN
HOMEBASE LTD AND ANOTHER V ALLIED DUNBAR ASSURANCE PLC
SNOOK V LONDON AND WEST RIDING INVESTMENTS LTD
NCR LTD V RIVERLAND PORTFOLIO LTD NO 1