Michael Gerson (Leasing) Ltd v Loach & Ors [2002] EWCA Civ 450 (26 March 2002)

Michael Gerson (Leasing) Ltd v Loach & Ors [2002] EWCA Civ 450 (26 March 2002)

The applicant's argument regarding the construction of the interest clause is properly arguable and merits consideration by the Court of Appeal.

Citation
[2002] EWCA Civ 450
Parties
Claimant/respondent: Michael Gerson (Leasing) Limited; Defendant/applicant: Jack Loach; Defendant/applicant: Sidney Loach; Defendant/applicant: Sylvia Jane Haley
Jurisdiction
England and Wales
Judgment Date
26 March 2002
Procedural Posture
Civil Appeal / Permission to Appeal From High Court Judgment
Outcome
Permission to appeal granted
Legal Topics
Lease Agreements, Personal Guarantees, Interest Calculation, Sale and Lease Back Arrangements
Contract Law Commercial Law Lease Agreements Personal Guarantees Interest Calculation Sale and Lease Back Arrangements

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Parties

Michael Gerson (Leasing) Limited

Claimant/respondent

Jack Loach

Defendant/applicant

Sidney Loach

Defendant/applicant

Sylvia Jane Haley

Defendant/applicant

Procedural Posture

Civil Appeal / Permission to Appeal From High Court Judgment

Legal Issues

  1. 1 Whether interest under clause 9(c)(iv) of the lease agreement applies to both arrears of rent and accelerated payments under clause 9(c)(ii)
  2. 2 Proper construction of the interest clause in the lease agreement

Ratio Decidendi

The applicant's argument regarding the construction of the interest clause is properly arguable and merits consideration by the Court of Appeal.

Court Disposition

Permission to appeal granted

Orders

  • Application for permission to appeal allowed
  • Time estimate of half a day