QBD 9 August 1990. By a lease dated 16 June 1976 the defendant, C, let a block of flats to S for a term of 999 years. By a sublease dated 1 December 1987 the then lessee F granted the flats to Camden LBC for a term of two years to provide temporary housing . The plaintiff X, a company registered in Panama with only one shareholder, purchased the lease in July 1988 . In November 1989 X cancelled his building insurance policy on the property in the belief that he had found a buyer who he expected to insure. Late in November C and an associate company National Car Parks became anxious about insurance cover and arranged the necessary cover informing X that they would recoup the premium calculated on a daily basis until satisfactory cover was provided by X. By December 1989 X had fallen behind with mortgage payments and an ex parte Mareva injunction was made against them. On 16 February 1990 C issued a writ against X for production of a current insurance policy. X made no effort to do thi