Marklands Ltd v Virgin Retail Ltd

Marklands Ltd v Virgin Retail Ltd

The arbitrator did not commit a serious irregularity or error of law in his treatment of comparables or valuation methods, nor in his failure to address the landlord's argument about dividing the property, as such alternatives were outside the transactional framework of the lease. The application to set aside or remit the award and for leave to appeal is refused.

Parties
Landlord: Marklands Ltd; Tenant: Virgin Retail Ltd
Jurisdiction
England and Wales
Judgment Date
28 November 2003
Procedural Posture
Arbitration Challenge (rent Review) / Judgment on Application to Set Aside or Remit Arbitral Award and for Leave to Appeal
Outcome
Application dismissed
Legal Topics
Rent Review, Arbitration Award Challenge, Valuation Methods, Section 68 Arbitration Act 1996, Section 69 Arbitration Act 1996
Arbitration Landlord and Tenant Property Law Rent Review Arbitration Award Challenge Valuation Methods Section 68 Arbitration Act 1996 Section 69 Arbitration Act 1996

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Parties

Marklands Ltd

Landlord

Virgin Retail Ltd

Tenant

Procedural Posture

Arbitration Challenge (rent Review) / Judgment on Application to Set Aside or Remit Arbitral Award and for Leave to Appeal

Legal Issues

  1. 1 Whether the arbitrator committed a serious irregularity under section 68 of the Arbitration Act 1996 by allegedly disregarding relevant comparables and valuation methods
  2. 2 Whether the arbitrator made an error of law justifying leave to appeal under section 69 of the Arbitration Act 1996
  3. 3 Whether the arbitrator failed to consider a material argument advanced by the landlord

Ratio Decidendi

The arbitrator did not commit a serious irregularity or error of law in his treatment of comparables or valuation methods, nor in his failure to address the landlord's argument about dividing the property, as such alternatives were outside the transactional framework of the lease. The application to set aside or remit the award and for leave to appeal is refused.

Court Disposition

Application dismissed

Orders

  • No order remitting the award under section 68 of the Arbitration Act 1996
  • Leave to appeal under section 69 of the Arbitration Act 1996 refused