One of the most eagerly awaited judgments of the year will be handed down by the Supreme Court on Wednesday, giving the final word on Marks & Spencer’s dispute with the landlord of its former head office premises at The Point, Paddington.
Lords Neuberger, Clarke, Sumption, Carnwath and Hodge will give their decision in the case on Wednesday 2 December.
In May 2014, the Court of Appeal allowed the landlord’s appeal, overturning a ruling that had permitted Marks & Spencer to claw back around £1.1m in rent and other charges after exercising a break clause in its lease of the premises.
But now M&S hopes the Supreme Court will restore the initial decision.
At the outset of the appeal hearing in October, Lord Neuberger said: “The point ultimately is quite a short one. That doesn’t mean it is an easy one.”
Guy Fetherstonhaugh QC, opening the appeal on behalf of M&S, explained that the key question is whether it is an implied term of the four leases involved that a tenant who makes quarterly rent payments in advance is entitled to repayment, upon termination of the lease under a break clause, of rents attributable to the period after the break date.
Marks and Spencer PLC v BNP Paribas Securities Services Trust Company (Jersey) Ltd &and another Supreme Court (Lords Neuberger, Clarke, Sumption, Carnwath and Hodge)
Guy Fetherstonhaugh QC (instructed by King & Wood Malleson LLP) for the appellant
Nicholas Dowding QC (instructed by Allen & Overy LLP) for the respondent
