15 Mar 2007
WELLESLEY CLUB INCORPORATED V WELLESLEY PROPERTY HOLDINGS LIMITED HC WN CIV-2006-485-2688
- Citation
- openlaw-11354ede_fc9f_4226_976d_60cec25022f2.pdf
- Court
- High Court
The Court held that Wellesley Club established a reasonably arguable equitable interest in the property via equitable estoppel rooted in the Sale and Share Purchase Agreements and related representations; the caveat description was sufficient; the Court would not exercise its residual discretion to remove the caveat because removal would likely prejudice the Club and there was no undue prejudice to others. Accordingly the caveat 6797614.1 shall not lapse, subject to a condition to commence specific performance proceedings by 15 April 2007 and pursue them with reasonable diligence.
- Caveat
- Equitable estoppel
- Specific performance
- Lease v licence
- Caveat lapse and court discretion