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ARTICLE · 25 JULY 2013

Break Notice Content: Comply Or Die?

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

Charles Russell Speechlys LLP

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Following hot on the heels from the High Court decision in "Marks and Spencer Plc v (1) BNP Paribas Securities Services Trust Company Limited and (2) BNP Paribas Securities Services Trust Company Limited [2013] EWHC 1279" comes another key decision affecting the exercise of break options.

United KingdomReal Estate and Construction
Richard Flenley
Richard Flenley

Following hot on the heels from the High Court decision in Marks and Spencer Plc v (1) BNP Paribas Securities Services Trust Company (Jersey) Limited and (2) BNP Paribas Securities Services Trust Company Limited [2013] EWHC 1279 (Ch) comes another key decision affecting the exercise of break options.

Introduction

In Siemens Hearing Instruments Limited v Friends Life Limited (12 July 2013), the High Court was called on to decide an issue on the construction of break notices. Its analysis represents a shift from the strict acceptance of all requirements specified in the lease as to what should be included within a break notice and demonstrates that the parties should always consider the contents of a break option with the utmost care before either serving the notice or choosing to challenge its validity.

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