Archive for the 'guarantees' Category

Skandinaviska Enskilda Banken AB Momsgrupp v Skatteverket – WLR Daily

Skandinaviska Enskilda Banken AB Momsgrupp v Skatteverket (Case C-540/09);  [2011] WLR (D)  103

“The exemption from VAT laid down in article 13B(d)(5) of Sixth Council Directive 77/388/EEC applied to services supplied by a credit institution, for consideration, in the form of an underwriting guarantee to a company wishing to issue shares, where under that guarantee the credit institution undertook to acquire any shares which were not subscribed within the period for share subscription.”

WLR Daily, 10th March 2011

Source: www.iclr.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

White v Davenham Trust Ltd – WLR Daily

White v Davenham Trust Ltd [2010] EWHC 2748 (Ch); [2010] WLR (D) 272

“The mere existence of a secured remedy against another party was not a substantial ground for refusing to allow a creditor to pursue a remedy in bankruptcy against a surety.”

WLR Daily, 2nd November 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

KG Bominflot Bunkergesellschaft für Mineraloele mbH & Co v Petroplus Marketing AG (The Mercini Lady) – WLR Daily

KG Bominflot Bunkergesellschaft für Mineraloele mbH & Co v Petroplus Marketing AG (The Mercini Lady)[2010] EWCA Civ 1145; [2010] WLR (D) 259

“There was no justification for implying a term in a contract for the sale of goods that goods which were accepted as complying with specification on loading at a seaport should be capable of remaining in an acceptable condition until unloaded at the end of a voyage. The contract specified that the buyer ‘assumes all risks pertaining thereto’. These included the risk of cargo instability. Were the term to be implied it would destroy certainty in the international sale of goods because the testing and certification of goods at the point of loading would always have to make way for a special implied term. Despite the huge inroads made first by the common law and then statute, the underlying principle remained caveat emptor, let the buyer beware.”

WLR Daily, 20th October 2010
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Good Harvest Partnership LLP v Centaur Services Ltd – WLR Daily

Good Harvest Partnership LLP v Centaur Services Ltd [2010] EWHC 330 (Ch); [2010] WLR (D) 48

“The Landlord and Tenant (Covenants) Act 1995 precluded a person who had guaranteed a tenant’s obligations under a lease from being required to give a further guarantee in respect of an assignee of the lease.”

WLR Daily, 24th February 2010

Source: www.lawreports.co.uk

Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.

IIG Capital llc v Van der Merwe – Times Law Reports

IIG Capital llc v Van der Merwe

Court of Appeal

“Where shareholders of a company over which they had complete control borrowed money for the business, the question whether they guaranteed to repay the loan as principal or as secondary obligors had to be assessed in that context.”

The Times, 25th June 2008

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

Pitts and Others v Jones

Pitts and Others v Jones

“In distinguishing oral promises as either guarantees or indemnities under the Statute of Frauds 1677, the classic criterion relying on interest in the transaction was not to be taken literally; not every interest in the transaction took the promise out of the statute.”

The Times, 19th December 2007

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

First £35,000 of every savings account given protection from today – The Times

“Savers in banks and building societies will have the first £35,000 of their deposits 100 per cent guaranteed from today under reforms to prevent a repeat of the Northern Rock affair.”

Full story

The Times, 1st October 2007

Source: www.timesonline.co.uk


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