Helden v Strathmore Ltd

Helden v Strathmore Ltd

The 2006 Charge and main loan are enforceable against Mr Helden, as the parties' intentions and agreed terms are clear and binding by estoppel and/or rectification, and it is just and equitable to permit enforcement under FSMA section 28(3) despite breach. Indemnity costs are not justified absent contractual provision; standard costs order applies.

Parties
Appellant: Charles Cleland Helden; Respondent: Strathmore Limited
Jurisdiction
England and Wales
Judgment Date
11 May 2011
Procedural Posture
Civil Appeal / Court of Appeal Judgment
Outcome
Appeal dismissed except as to costs; Respondent's Notice dismissed.
Legal Topics
Regulated Mortgage Contracts, Enforceability of Security, Estoppel by Convention, Rectification, Costs Orders
Financial Services Law Property Law Contract Law Regulated Mortgage Contracts Enforceability of Security Estoppel by Convention Rectification Costs Orders

Case Brief

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Parties

Charles Cleland Helden

Appellant

Strathmore Limited

Respondent

Procedural Posture

Civil Appeal / Court of Appeal Judgment

Legal Issues

  1. 1 Whether the 2006 Charge and associated loans are enforceable despite defective drafting and breach of FSMA
  2. 2 Whether Strathmore carried on regulated activity 'by way of business' under FSMA
  3. 3 Whether it is just and equitable to permit enforcement under FSMA section 28(3)

Ratio Decidendi

The 2006 Charge and main loan are enforceable against Mr Helden, as the parties' intentions and agreed terms are clear and binding by estoppel and/or rectification, and it is just and equitable to permit enforcement under FSMA section 28(3) despite breach. Indemnity costs are not justified absent contractual provision; standard costs order applies.

Court Disposition

Appeal dismissed except as to costs; Respondent's Notice dismissed.

Orders

  • Strathmore may enforce the 2006 Charge and main loan.
  • Mr Helden to pay 60% of Strathmore’s costs on the standard basis.