Source: All England Reporter
Publisher Citation: [2002] All ER (D) 457 (Mar)
Court: Court of Appeal, Civil Division
Judge:

Aldous and Jonathan Parker LJJ

Representation John de St Croix of Norton Rose for the applicants.
  Guy Newey QC and Andrew Westwood (instructed by Weil, Gotshal & Manges) for the first, second and third respondents.
  David Hodge QC and Katherine Holland (instructed by Pinsent Curtis Biddle & Co, Leeds) for the fourth and fifth respondents.
  Peter Arden (instructed by Hammond Suddards Edge, Leeds) for the sixth and seventh respondents.
Judgment Dates: 27 March 2002

Catchwords

Land - Lease - Equitable charge - Priority of interests - Company granting debenture creating equitable charge over leasehold property - Company acquiring headlease of land and granting underlease simultaneously - Company going into administrative receivership - Dispute as to priority between debenture and underlease - Judge finding grant of headlease and underlease in substance one transaction - Judge concluding underlease having priority over debenture - Whether judge in error.

The Case

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