Two directors at Chartbrook, which last year lost a £4.1m profit-share dispute with former development partner Persimmon Homes at the House of Lords, today agreed to pay Persimmon’s legal costs for the “expensive” proceedings. Mr Justice Norris formally approved a consent order agreed between Persimmon and the Chartbrook directors, Robert Reeve and Stephen Vantreen, under which the two men will pay Persimmon’s costs of the proceedings in the high court, Court of Appeal and House of Lords. The total figure will be assessed at a later date if not agreed between the parties. The judge said that the consent order related to an “expensive set of proceedings”. Speaking afterwards, Julian Greenhill, one of Persimmon’s counsel, said that his client was seeking £1.6m in legal costs, as well as the return of £750,000 paid in legal costs to Chartbrook at an earlier stage in the proceedings, at which time Persimmon had been unsuccessful. In July last year, Lord Hope of Craighead, Lord Hoffmann, Lord Rodger of Earlsferry, Lord Walker of Gestingthorpe and Baroness Hale of Richmond unanimously allowed Persimmon’s appeal against a high court order, under which it had to pay £4.1m to its partner Chartbrook in respect of a multi-million-pound south London housing development. The House of Lords overturned the ruling that a profit-share agreement on the Centre Square scheme in Hardwicks Way, London SW18, meant that Chartbrook should have been paid £4.6m.
Two directors at Chartbrook, which last year lost a £4.1m profit-share dispute with former development partner Persimmon Homes at the House of Lords, today agreed to pay Persimmon’s legal costs for the “expensive” proceedings.
Mr Justice Norris formally approved a consent order agreed between Persimmon and the Chartbrook directors, Robert Reeve and Stephen Vantreen, under which the two men will pay Persimmon’s costs of the proceedings in the high court, Court of Appeal and House of Lords.
The total figure will be assessed at a later date if not agreed between the parties.
The judge said that the consent order related to an “expensive set of proceedings”.
Speaking afterwards, Julian Greenhill, one of Persimmon’s counsel, said that his client was seeking £1.6m in legal costs, as well as the return of £750,000 paid in legal costs to Chartbrook at an earlier stage in the proceedings, at which time Persimmon had been unsuccessful.
In July last year, Lord Hope of Craighead, Lord Hoffmann, Lord Rodger of Earlsferry, Lord Walker of Gestingthorpe and Baroness Hale of Richmond unanimously allowed Persimmon’s appeal against a high court order, under which it had to pay £4.1m to its partner Chartbrook in respect of a multi-million-pound south London housing development.
The House of Lords overturned the ruling that a profit-share agreement on the Centre Square scheme in Hardwicks Way, London SW18, meant that Chartbrook should have been paid £4.6m.
