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Beegas Nominees Ltd v BHP Petroleum Ltd and another: Sevington Properties Ltd v Adams and another

Language: English Series: Estates Gazette ; [1998] 31 EG 96-102(7)Publication details: 1998Subject(s): Summary: CA 3 April 1998. In March 1985 BHP assigned the lease at a rent of £210,000 to Sevington Properties (S). In November 1985 the lease was assigned to Clive Lewis (renamed SSPI) and a variation agreed advancing the first rent review at a rent of £225,000.The 1991 rent review was agreed on a rising basis up to £395,000. Beegas (B) acquired the lease reversion in 1995. In 1996 SSPI went into liquidation and disclaimed the lease. B commenced proceedings against BHP and S for arrears. In October 1996 S sought a vesting order at a rent of £210,000, or £225,000. It was decided that BHP was not bound by the 1985 licence or the 1992 rent review memorandum, S was bound by the 1995 licence and the rent of £225,000, and S should pay current rental value for the lease to be vested in it. B appealed, and BHP and S cross-appealed. "Held" BHP and S were not bound by the 1992 rent review memorandum, their liability for rent was £210,000 and £225,000 respectively, subject to 1991 and 1996 rent reviews
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Item type Current library Call number Copy number Status Barcode
Law report London Journal article ABS59196 (Browse shelf(Opens below)) 1 Available 87957-1001

CA 3 April 1998. In March 1985 BHP assigned the lease at a rent of £210,000 to Sevington Properties (S). In November 1985 the lease was assigned to Clive Lewis (renamed SSPI) and a variation agreed advancing the first rent review at a rent of £225,000.The 1991 rent review was agreed on a rising basis up to £395,000. Beegas (B) acquired the lease reversion in 1995. In 1996 SSPI went into liquidation and disclaimed the lease. B commenced proceedings against BHP and S for arrears. In October 1996 S sought a vesting order at a rent of £210,000, or £225,000. It was decided that BHP was not bound by the 1985 licence or the 1992 rent review memorandum, S was bound by the 1995 licence and the rent of £225,000, and S should pay current rental value for the lease to be vested in it. B appealed, and BHP and S cross-appealed. "Held" BHP and S were not bound by the 1992 rent review memorandum, their liability for rent was £210,000 and £225,000 respectively, subject to 1991 and 1996 rent reviews