||All England Reporter
|| All ER (D) 250 (Jul)
Kevin Garnett QC sitting as a deputy judge of the High Court
||Gabriel Fadipe (instructed by Russell Jones & Walker) for the claimants.
||Gregory Hill (instructed by Harold Benjamin) for the defendants.
||15 July 2004
Equity - Equitable defences - Laches - Delay in assertion of beneficial rights.
The defendants were entitled to rely on the principle of laches where the claimants, who had beneficial interests in properties whose value had plummeted during the property slump of the 1990s, only tried to assert a beneficial interest once the market had improved, whereas the defendants had borne the shortfall. Furthermore, as s36A of the was merely permissive the minute and agreement which had been signed by a duly authorised person, although not by two directors of the company which was assigning the beneficial interests in the properties to the claimants, was effective to transfer those interests.
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