The ICLR has provided a summary for the recent Court of Appeal decision Menelaou v Bank of Cyprus UK Ltd [2013] EWCA Civ 1960: see here. The summary's headnote reads: "A bank which had released its charges over property in exchange for a new charge over property purchased from the proceeds of sale of the other property was entitled by subrogation to an unpaid vendor’s lien on the new property."
Update (4 July 2013) - a copy of the judgment is now available on BAILII: see here.
Thursday 4 July 2013
UK: England and Wales: Court of Appeal considers doctrine of subrogation
The ICLR has provided a summary for the recent Court of Appeal decision Menelaou v Bank of Cyprus UK Ltd [2013] EWCA Civ 1960: see here. The summary's headnote reads: "A bank which had released its charges over property in exchange for a new charge over property purchased from the proceeds of sale of the other property was entitled by subrogation to an unpaid vendor’s lien on the new property."
Update (4 July 2013) - a copy of the judgment is now available on BAILII: see here.
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