Summary Certain zero coupon loan notes, which were issued on terms designed to satisfy the definition of a "relevant discounted security" within the provisions of the Finance Act 1996 Sch.13, did not meet those statutory requirements, purposively construed, since some of the terms had no practical reality and could therefore be...

Summary In the circumstances it was appropriate to impose a suspended committal order in respect of a contempt consisting of a large scale failure to produce documents in response to a court order. Facts The applicant bank (B) applied for the committal of the respondent (M) for failure to comply...

Summary It would rarely if ever be appropriate or expedient for the English court to assume jurisdiction under the Civil Jurisdiction and Judgments Act 1982 s.25 to grant interim relief in support of substantive proceedings abroad where the relevant defendants had no connection with the jurisdiction and the relevant assets were...

Summary An appeal against a notice to counteract a tax advantage obtained on the sale of shares to a qualifying employee share ownership trust was dismissed because the appellant failed to show that tax saving was not the main object of that sale. Facts The appellant businessman (G) appealed against...

Summary It was inappropriate for the English courts to assume jurisdiction of a claim and allow service outside of the jurisdiction where although it had been shown that there was a good arguable case that there was an agreement between the parties which was governed by English law the underlying...

Summary Where a company, pursuant to a promissory note, advanced a sum of $2 million for the purchase of a property that was subject to a first legal charge in favour of a bank and a clause in the note provided that the amount advanced would become repayable if the bank...

Summary The court made costs orders against individual animal rights activists who had been named as representative members of a number of animal rights organisations and against whom injunctions had successfully been obtained. Facts Following its judgment in the case of Smithkline Beecham Plc v Avery (2009) EWHC 1488 (QB), the court...

Summary A break clause had not been validly exercised by a commercial tenant as the condition precedents to determine the lease had not been strictly complied with; in particular dilapidations and repairs remained outstanding which amounted to material breaches. Facts The claimant landlord (L) sought a declaration that a break...

Summary A written agreement for the sale of commercial property was no longer valid where related agreements between the parties had been terminated and it was clear from the express language of the commercial agreement that the terminations of the other agreements had rendered the commercial agreement unworkable, and where...