Construction department scores a victory at the High Court
Gregg Latchams Construction & Engineering department has successfully represented the financial backer of a construction company at the High Court.
The funder provided money in exchange for the assignment of the construction company’s book debts. When the construction company became insolvent the funder stepped in and sought to claim the book debts.
Unfortunately for the funder many construction contracts contain provisions preventing that (so called anti-assignment clauses). Gregg Latchams Construction & Engineering department has successfully argued that there is a good prospect that, whilst the contract may prevent a legal assignment, a trust can arise in equity to allow the claim to be made.The application by the debtor to strike out the claim failed and the case in Bristols High Court continues.
A transcript of the case can be found here.
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