Railtrack Plc v Guinness Ltd.
The Tribunal did not err in law in its application of the 'willing seller' principle, as it was entitled to assume the seller would be a railway company and to consider the realities of the transaction. The deductions for profit/risk were justified on the evidence and did not amount to double-counting or legal error.
- Parties
- Appellant: Railtrack PLC (in Railway Administration); Respondent: Guinness Limited
- Jurisdiction
- England and Wales
- Judgment Date
- 20 February 2003
- Procedural Posture
- Civil Appeal / Appeal From Lands Tribunal Decision
- Outcome
- appeal dismissed
- Legal Topics
- Compensation Assessment, Market Value, Valuation Methodology, Profit/risk Deduction
Case Brief
Summary, issues, holding and outcome
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Parties
Railtrack PLC (in Railway Administration)
Appellant
Guinness Limited
Respondent
Procedural Posture
Civil Appeal / Appeal From Lands Tribunal Decision
Legal Issues
- 1 Whether the Lands Tribunal erred in its application of the 'willing seller' principle under section 5(2) of the Land Compensation Act 1961.
- 2 Whether the Tribunal erred in making deductions for profit/risk exceeding those contended for by the respondent.
Ratio Decidendi
The Tribunal did not err in law in its application of the 'willing seller' principle, as it was entitled to assume the seller would be a railway company and to consider the realities of the transaction. The deductions for profit/risk were justified on the evidence and did not amount to double-counting or legal error.
Court Disposition
appeal dismissed
Orders
- Permission to appeal on ground two granted.
- Appeal on both grounds dismissed.
Full Case Text
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