The owner of three flats in south-east London has failed in its High Court attempt to prevent the long leaseholders from acquiring the freehold interest in the properties.
Glen International had argued that conditions precedent to such a sale had not been satisfied and that the contract had been frustrated as a result of the company’s inability to give vacant possession of other flats in the building.
Deputy Judge Justin Fenwick QC has allowed a challenge by the long leaseholders, and has ordered specific performance of a deal that had been struck between the parties, giving the long leaseholders the right to acquire the freehold under the provisions of the Leasehold Reform, Housing and Urban Development Act 1993.
He said that the owners were under a “clear, unconditional obligation” to transfer the property at the agreed price, and held that the claimants could also be entitled to damages.
Le Mesurier and others v Glen International Ltd Chancery Divvision (Deputy Judge Justin Fenwick QC) 8 April 2003.
Stanley Gallagher (instructed by Jennifer Israel & Co) for the claimants; David Holland (instructed by Kotecha & Co) appeared for the defendant.
References: PLS News 9/4/03
