The parties had agreed to sell property and to lease it back. The agreement provided that on an assignment of the lease, the existing tenant’s guarantor should also stand as guarantor for the incoming assignee, but not subsequently. It now appealed a finding that it was not free to assign the lease to an associate … Continue reading K/S Victoria Street v House of Fraser (Stores Management) Ltd and Others: ChD 17 Dec 2010

The agreement provided that the guarantors to the original lease should act also as guarantors on any assignment. The tenant challenged this provision saying that it contravened the requirements of section 25 of the 1995 Act. HoF contended that such an arrangement would frustrate the intention of the Act. Held: The provision stipulating in advance … Continue reading K/S Victoria Street v House of Fraser (Stores Management) Ltd and Others: CA 27 Jul 2011