The power to grant relief from forfeiture in finance leases was real, but ceased to be available after property repossessed by the finance company had been contracted for sale by the applicants. The application for relief was in its nature, an application to permit the continuation of the lease, which could not be the basis where the property was to be sold.
Citations:
Times 19-Sep-2000
Jurisdiction:
England and Wales
Citing:
Appealed to – On Demand Information Plc and others v Michael Gerson (Finance) Plc and others HL 18-Apr-2002
The claimant took equipment under leases. After the initial period the rentals would be renewed without substantial further rental payments. The company went into administration after or toward the end of the initial period, and the lessors sought . .
Applied – Transag Haulage Ltd (In Admin Receivership) v Leyland Daf Finance Plc and Another ChD 31-Jan-1994
Hire-purchase agreements for the hire of three lorries were entered into by Transag, a haulier, between January and May 1991. The price for the three lorries was andpound;177,333, with down payments totalling andpound;69,333 and the balance (for . .
Cited by:
Appeal from – On Demand Information Plc and others v Michael Gerson (Finance) Plc and others HL 18-Apr-2002
The claimant took equipment under leases. After the initial period the rentals would be renewed without substantial further rental payments. The company went into administration after or toward the end of the initial period, and the lessors sought . .
Lists of cited by and citing cases may be incomplete.
Financial Services, Litigation Practice
Updated: 11 May 2022; Ref: scu.84455