‘trial of a preliminary issue in an action by the claimant, London and Medway Ltd (‘LandM’), a property development consultant, against the defendant, Sunley Holdings plc (‘Sunley’) a property developer, whereby LandM claims a share of the profits in certain developments undertaken by Sunley. The most significant claim in the action is one for a 20% share of the profits generated as a result of introducing to Sunley a property which has become a successful block of student housing at 168-190 Fulham Palace Road, London. The paper profits from that development are said by LandM now to exceed andpound;8 million and it claims a 20% share of them. LandM says that its entitlement to a share in these profits arises pursuant to an informal agreement made in early 2008 (‘the 2008 Agreement’). Sunley in response says that LandM relinquished its right to that profit share by a further agreement in 2010 (‘the 2010 Agreement’). The purpose of this trial is to determine whether the 2010 Agreement had that effect.’
Judges:
Mr Daniel Alexander QC
Citations:
[2013] EWHC 1420 (Ch)
Links:
Jurisdiction:
England and Wales
Contract
Updated: 18 August 2022; Ref: scu.510170