[2003] EWCA Civ 1759, 4 December 2003. Appeal from HC decision ([2003] EWHC 143 (Ch), Abs66536) decision that an equitable interest in a lease vested in the lessors (B) because the assignees (the Bailies) of a long lease had failed to perform an obligation to offer to sell their lease to B. Cl5 of the lease conferred a right of pre-emption on the lessor if ever the lessees wished to dispose of the lease. The judge concluded that under cl5 the Bailies had an obligation to offer to sell the lease to the lessors before the conclusion of the 1986 contract to sell the lease to T; that obligation was not affected by the Landlord and Tenant Act 1954 s17; due to failure to perform that obligation an equitable interest in the lease vested in the lessors in 1986 and that equitable interest had priority over any interest of T or the second appellant (C). "Held" the appeal was dismissed as the judge was correct that cl5 imposed a positive obligation on the Bailies. View www.courtservice.gov.uk.