The Court of Appeal has given two property companies, Silven Properties Ltd and Chart Enterprises Inc, permission to appeal the High Court’s dismissal of their claim that their former banker, Royal Bank of Scotland, had wrongly appointed receivers in May 1996.
In October 2002, the High Court rejected claims that the bank had erroneously called in LPA receivers over a portfolio of properties owned by the companies, including an office block in Nottingham known as Regina House (see [2002] 3 EGLR 115).
Patten J held that there was no factual basis for the claims that the bank had agreed to give the companies time to refinance before calling in its loans and appointing receivers, or that the bank was estopped from appointing receivers without first providing the companies with such an opportunity.
On appeal, Chadwick LJ has given permission to appeal against certain aspects of the decision relating to allegations of a breach of duty of care by the receivers.
Silven Properties Ltd and another v Royal Bank of Scotland and others Court of Appeal (Chadwick LJ) 13 May 2003.
References: PLS News 13/5/03
