Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 13 SEPTEMBER 2011

Liability Of Guarantors On Assignment

Charles Russell Speechlys LLP
Charles Russell Speechlys LLP
Contributor
Charles Russell Speechlys LLP

Charles Russell Speechlys LLP

Charles Russell Speechlys is an international law firm with a focus on private capital, at the...

View firm profile
Explore more from Charles Russell Speechlys LLP

K/S Victoria Street ("the Landlord") entered into an agreement for lease with House of Fraser (Stores Management) Limited ("the Tenant").

United KingdomLitigation, Mediation & Arbitration
Charles Russell LLP'S Property Litigation Department
Charles Russell LLP'S Property Litigation Department

K/S Victoria Street v House of Fraser (Stores Management) Ltd and others [2011] EWCA Civ 904

Facts

K/S Victoria Street ("the Landlord") entered into an agreement for lease with House of Fraser (Stores Management) Limited ("the Tenant").

The Tenant was not a strong covenant and so the parent company agreed to stand as guarantor. The Tenant was also required to transfer the lease to another company of stronger covenant within the House of Fraser Group ("the Assignee") within 3 months of completion. The parent company agreed to stand as guarantor for the Assignee.

The Landlord issued proceedings for specific performance of the obligation on the Tenant to transfer the Lease to the Assignee, with the benefit of the guarantee from the parent company. The defendants contested the claim on various grounds, including that the obligation on the parent company to guarantee the Assignee was in breach of Section 25 of the Landlord and Tenant (Covenants) Act 1995 ("the

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Meta's $18 Billion Settlement: Reckoning Or Managed Exit?

Meta has agreed to pay up to $18 billion over 10 years to settle claims by 52 US state and territory attorneys general in the largest state consumer-protection settlement in American history outside tobacco. The settlement imposes binding child-safety obligations including time limits and age assurance, but leaves the core algorithmic feed unchanged and raises questions about whether this represents genuine accountability or a commercially managed outcome.
United KingdomLitigation, Mediation & Arbitration
Mishcon de Reya LLP
Mishcon de Reya LLP
Article

Game Developer And Publisher Battle Over Step In Rights

A High Court ruling examines a contentious dispute between a video game developer and publisher over milestone-based funding and "step in" rights for the first-person shooter Six Days in Fallujah. With over $50 million in development costs at stake and allegations of conspiracy to acquire proprietary source code, the court declined to grant either party interim control of the game's development, leaving both sides without the "keys to the kingdom" pending a full trial.
United KingdomLitigation, Mediation & Arbitration
Lewis Silkin
Lewis Silkin
Article

LNG Charterparty Hire Formula: Meaning Of JKM–TTF Pricing Spread

The Commercial Court ruled on a USD 29 million dispute over an LNG carrier charterparty's index-linked pricing formula, determining whether the "JKM-TTF spread" operated bidirectionally or only when JKM exceeded TTF. The decision examines how unprecedented market conditions—where European gas prices surged above Asian prices due to the Ukraine war—tested the contractual formula's application and whether rectification could remedy an alleged drafting oversight.
European UnionLitigation, Mediation & Arbitration
CMS Wistrand
CMS Wistrand
Video

One-Punch Manslaughter – When A Single Blow Kills (Video)

A split-second decision can change lives forever. In one-punch manslaughter cases, a single impulsive blow, perhaps thrown in anger, fear or misguided bravado, leads to a tragic death. These ‘death by a single punch’ incidents are more common in the UK than many realise. Dozens of families every year are left devastated, with one family grieving an unimaginable loss, and another family shocked and fearful as their loved one faces a homicide investigation for an outcome no one intended. It’s a tragic reality, one moment of anger, one fatal assault involving a single blow, and two lives (and families) ruined.
United KingdomLitigation, Mediation & Arbitration
Olliers Solicitors
Olliers Solicitors
Article

What July 2026’s Bank Of England Decision Means For Private Capital Stakeholders

As widely anticipated, the Bank of England voted last week to hold Bank Rate at 3.75%. Whilst markets had expected the decision, it is noticeable that the Monetary Policy Committee (MPC) moved from a 7-2 decision, to a 6-3 one, with three members favouring a 0.25% increase. The move demonstrates the continued uncertainty around the UK’s inflationary environment, particularly in light of geopolitical tension, tariffs and trade disruption and political change, and their combined impact on global energy prices and the wider economic outlook.
United KingdomFinance and Banking
Charles Russell Speechlys LLP
Charles Russell Speechlys LLP
Article

Summer 2026 Update: Where Are We Are On The Government’s Roadmap To Commonhold?

The UK Government has announced plans to introduce a substantially amended Commonhold and Leasehold Reform Bill in Autumn 2026, incorporating recommendations from the Housing Select Committee that could accelerate major changes to residential property ownership. Key proposals include reducing ground rent caps from £250 to nil after just 20 years, mandating automatic conversion to commonhold after collective enfranchisement, and establishing an independent regulator for property managing agents with enf
United KingdomReal Estate and Construction
Charles Russell Speechlys LLP
Charles Russell Speechlys LLP