Real World: An Update from Dechert's London Finance & Real Estate Group - May 2012


Welcome to the Spring edition of Real World from Dechert’s London Finance and Real Estate Group, keeping you up to date with recent developments in real estate law and practice. I hope you like our new user-friendly format, which gives faster, easier access to the articles by clicking on the links below (see article for links).

In This Issue:

- The Budget: Largely Disappointing for Real Estate

- Know Your Contractual Limitations

- Estate Rent charges: An Effective But Unpopular Means of Collecting Freehold Service Charges

- Break Rights: A Costly Trap for Tenants

- The National Planning Policy Framework: Aiming for Growth Through Sustainable Development But With Appropriate Controls

Excerpt from Know Your Contractual Limitations

An expired limitation period can operate as a complete defence to a claim, so missing a limitation deadline could be your worst nightmare. The Court of Appeal case of Inframatrix Investments Ltd v Dean Construction Limited [2012] EWCA Civ 64 serves as a useful reminder of the importance of knowing your contract and when your limitation period expires, but working out the latter is not always straightforward.

Dean Construction Limited (DCL) was a specialist roofing and cladding contractor engaged by Inframatrix Investments Limited (IIL) to undertake works at a factory. The contract was originally prepared by IIL’s lawyers but the final executed version reflected DCL’s amendments to the proposed twelve year contractual limitation period at clause 17.4 as follows: “No action or proceedings under or in respect of this Agreement shall be brought against the Contractor after (a) the expiry of 1 year from the date of Practical Completion of the Services or; (b) where such date does not occur, the expiry of 1 year from the date the Contractor last performed Services in relation to the Project.”

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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