Source: All England Reporter
Publisher Citation: [2002] All ER (D) 381 (Jul)
Court: Chancery Division
Judge:

Ferris J

Representation Philip Marshall (instructed by Baker & Mackenzie) for the claimant.
  Alan Maclean (instructed by Ashurst Morris Crisp) for the defendants.
Judgment Dates: 25 July 2002

Catchwords

Joint venture - Acquisition of properties - Creation of joint venture company to purchase properties - Breakdown of relationship between parties to joint venture agreement - Whether defendants should be ordered to procure repayment by joint venture company to claimant - Whether parties entering into binding agreement for purchase of claimant's shares.

The Case

In proceedings arising in connection with the breakdown of the relationship between the parties to a joint venture agreement, the court ruled, inter alia, that, having regard to the facts of the case, the loan made to the joint venture company by the claimant would remain outstanding until it became due for repayment under the contract of the loan and, in those circumstances, the court would decline to make the order for repayment sought.

Practice Areas

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