Housebuilder Banner Homes has taken its battle for a share of a £2.2m development site in Berkshire to the Court of Appeal today.
Banner claims that a joint venture agreement with Luff Developments entitled it to a 50% share in Stowhelm, which owned the disputed site at White Waltham. That claim was rejected by Blackburne J in the High Court last year.
He held that the site, purchased by Stowhelm for £2.2m, had not been purchased by Stowhelm and Luff on constructive trust for Banner via Banner’s alleged shareholding in Stowhelm.
Charles Purle QC, for Banner, argued that the High Court decision was wrong. He claimed that Banner did have an interest in the site and was to be regarded as a half-owner.
It is alleged that the effect of the deal was that Banner and Luff were to be half-owners of the site and that if they could not work together, one side would sell out to the other or the site would be sold and the proceeds divided.
The hearing continues.
Banner Homes Group plc v Luff Developments Ltd, Court of Appeal (Stuart-Smith, Evans and Chadwick LJJ), 25 October 1999
Charles Purle QC and Mark Warwick (instructed by Titmuss Sainer Dechert) appeared for the appellant; John Brisby QC and Paul McGrath (instructed by Leboeuf, Lamb, Greene & Macrae) appeared for the respondents.
PLS News 25/10/99
