Savills wins Appeal Court case over unpaid £150,000 commission

first_imgIt has been revealed that Savills has won an Appeal Court case and is now due a commission of some £150,000 for the sale of Mill Ride Estate near Ascot in Berkshire, which sold for early £7 million in 2012.The estate used to be land and stables but during the 1990s was laid out as a golf course with a clubhouse (pictured). It was bought by Sidemanor Ltd in 2003, a company owned by London and Argyll-based businessman Peter Blacker (pictured, left)Savills were instructed to sell the property in 2012 and produced several valuations ranging from £2.5m to £10m, the higher of which assumed that planning permission could be gained for a large detached residence within the estate’s grounds, and vacant possession of a cottage.Savills also produced a document outlining what was to be sold including how, should the property sell, they would be due to a fee.This included the recommendation that the estate be sold via “private treaty” and that “we suggest that the estate is offered for sale as soon as planning consent has been granted and we advise that the marketing is initially carried out on a very private basis,” said Savills director Paul Finnegan (pictured, right) in the document, court records show.But Mr Blacker then changed the strategy as he rushed to sell the property. He was under financial pressure to dispose of it from Barclays – who had lent him the money to buy the estate – and so wanted to sell it prior to planning permission being secured. The sales agreement between Blacker and Savills was amended and signed, although the first was not.Sold for £6.8mMill Ride Estate was subsequently sold in November 2012 for £6.8 million albeit not through the agent, nevertheless Savills claimed their commission of £150,000. But this was refused after Mr Blacker claimed the estate was sold without planning permission.Savills took Blacker’s company Sidemanor Ltd to court, claiming a commission of £120,000 plus VAT but on the October 6, 2015, this was dismissed by Judge Edward Bailey. Savills disagreed with the judgement and applied for a hearing at the Appeal Court, which took place in early February this year.Savills won the appeal, which has only recently come to light after its lawyer Glenn Willetts (pictured, left) of Birmingham-based No5 Barristers’ Chambers released a statement about the case.In his judgement, Lord Justice Patten said: “On the [original] judge’s construction of the agreement, Savills would have had no entitlement to commission even if they had introduced a purchaser who exchanged contracts at any time prior to planning permission. It is clear that the judge in this case adopted a literal approach.”Lord Justice Patten allowed the appeal, and ordered the defendants to pay Savills £144,000 with interest of nearly £27,000, with costs of £80,000.Mr Willetts, for Savills, said: “We are delighted with this outcome, which proves that marketing recommendations are simply that; they are proposals and are not binding.“The [original] judge was wrong to say they were set in stone.”Paul Finnegan Peter Blacker Glenn Willetts Savills May 15, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Agencies & People » Savills wins Appeal Court case over unpaid £150,000 commission previous nextRegulation & LawSavills wins Appeal Court case over unpaid £150,000 commissionFee initially refused by Berkshire estate-selling client must now be paid.Nigel Lewis15th May 201702,985 Viewslast_img read more

Continue reading

Press release: December 2018 Price Paid Data

first_imgThis month’s Price Paid Data includes details of more than 88,700 sales of land and property in England and Wales that HM Land Registry received for registration in December 2018.,Trafalgar House1 Bedford ParkCroydonCR0 2AQlast_img

Continue reading

Speech: Lord Ahmad Opening Speech at the Governing Council of the Community of Democracies

first_imgDistinguished Guests. Ladies and Gentlemen. I welcome you all here formally. I was just saying to the Secretary General that I have had a rather interesting start to my morning – when we talk of Human Rights and Democracy and the rule of law, I had a fascinating insight this morning, and quite privileged to do so, in the company of Henry Kissinger – so that is my reason why I am slightly late; the Foreign Secretary, together with a few other Ministers today hosted Henry Kissinger and it was a fascinating insight into his own life, but also his world view on where we are today.The issue of democracy and human rights is very close to my heart, as someone who is also Minister for the United Nations and the family of the Commonwealth 53. It is something that defines a nation, it defines how we are, it defines our interaction on the world stage.Since the United Kingdom joined the Community in 2016, we have played an increasingly active role. The focus of our time as chair over the past 6 months has been to maximise the organisations practical impact; the need for that is clear: when we cast our eyes around the world today, there are far too many countries where it is not just a democratic deficit, but where democracy does not exist. Institutions are weak, at best constrained and those that are operational, we find quite often are being eroded – the rule of law is not being applied or indeed is struggling to take root.That is why, once we have concluded our procedural business this morning, we will hold sessions designed to share know-how and understanding on how we can support democracy in both Mali and in the Maldives, followed by sessions on strengthening democratic participation and media freedoms – both of which are vital to the functioning of a successful democracy.One thing I have always been mindful of as I travel around the world is that we have got to be very careful, that this is not a question of pointing fingers or a blame game – to say, look at us, aren’t we a great democracy; we have press freedom, we have religious freedoms, so on and so forth and you do not, that can never be the approach.Indeed, on a bit of self reflection, our own journey in the United Kingdom to get to where we are today, has not been an easy one. One only needs to cast one’s mind back 100 years ago, women did not have the right to vote. The struggle that women had to go through to get that basic right and democratic right.So this is not one, as I say, about blaming others, but how through sharing experiences of our own journeys in our respective countries we can help strengthen those vital pillars of democracy, the rule of law, the importance of governments and institutions around the world.Therefore, I am delighted that we will be hearing later from the Foreign Minister of the Maldives, His Excellency Mr Abdulla Shahid, and from His Excellency the Ambassador of Mali to the United Kingdom. I welcome you both here today. Your countries face various hurdles in their democratic journeys, and I hope we can collectively, from our own experiences, we can help you overcome them.In Mali, a key component of the 2015 Agreement on Peace and Reconciliation offered greater autonomy to the regions. This process of devolution is still in progress. From our own experience, in the United Kingdom. I would always say that devolution is important, regional governance is important, but also defining what devolution actually means is also equally important. Devolution takes different forms as well – no one type fits all. This afternoon we will look at how devolution works in the UK, in order to stimulate a broader discussion, which I hope will show the benefits to democracy of bringing decision-making closer to those it affects the most.Political participation in the second item on our agenda this afternoon, will be a key focus in our discussions.Engaging all people in democratic processes and decision-making is a challenge for us all. Certainly here in the UK there are still too many people not engaged in, or disillusioned by politics.A personal reflection, if I may, I remember my time in local government – there quite often the biggest challenge was not just about winning, which is important for any democrat as you want to be the first past the post, but it was about participation. On average, the participation in local elections in the United Kingdom, at best in the high thirties. Now thirty-odd percent, means that two thirds of your local electorate are disengaged or not interested. They are not interested in local governments and therein lies a great challenge, and I hope our discussions later on will shed light on how we can improve that.Last year we held our first National Democracy Week to encourage participation from the most under-represented in the country. When I talk about the under-represented, we need to ask the question; why? Why are people not participating? It is very easy as a politician, or those in government to say it is about disillusionment – but there are often real reasons why people are not participating and we need to bridge the gap.Therefore, I am delighted that my colleague, the Chloe Smith MP, the Minister for the Constitution, will be joining us this afternoon to discuss this issue in detail. I will also be interested to hear your thoughts and experiences of political participation in your respective countries.A note of apology, right from the outset, some of you may have noticed we have a few things happening in the British parliament today and who knows for the next few days – so if my attendance or that of my colleagues is somewhat intermittent, it is because we have various bells ringing in both the House of Commons and House of Lords, requiring us to be in attendance. But that is an important part of democracy – making sure your representatives go and vote.So, turning back to our agenda, if we truly want citizens to engage with democracy and democratic processes, we have to ensure some vital components of that democratic process are in place. First of all safety – when we again look around the world, the safety and security of citizens casting their votes for their representatives is paramount and therefore that is an essential part of ensuring a vibrant democracy. It needs to be open, there needs to be free space to express contrary opinion and to challenge. There needs to be an opportunity for those who come from minority perspectives to also, not only feel they have a right to expression but to be fully integrated into the norms of society in the country. And for all of those minority views to be represented, so they can be heard.The final issue we are going to explore today is media freedom. On that particular issue, our Foreign Secretary, Jeremy Hunt, has made media freedom his priority focus for 2019.If we reflect on history, if we reflect on current situations around the world, where freedom of expression is unduly restricted, either in the real world or online, there follows that democracy is damaged, accountability is constrained or restricted, and rule of law is weakened.We hope there will be opportunities to work with you in the run up to the international conference on media freedom we are hosting later this year, where we intend to shine a spotlight on media freedom, and to galvanise a consensus behind the need to protect journalists.I was in the United Nations, attending the Security Council last week, and one of things I did, whilst I was there, was convene a round table of the media who is often questioning us – Ministers who are attending the UN on important issues of international affairs – and I asked those representatives of the media as to what they felt were the major challenges and what more could governments to ensure the kind of media freedom we all need to see.The need for action is clear. Quite often it is asked where is the evidence? And the evidence, the stark evidence is right there in front of us. 80 journalists killed in 2018, almost 350 are in prison, and 60 journalists are currently held hostage.Therefore I hope that discussions today lead to a Call for Action on the important issue of media freedom from all Governing Council members present.Finally, I am pleased to announce that as part of our continuing commitment to this important organisation, to the Community of Democracies, the UK is pledging £60,000 to the Community’s fact-finding missions, including the mission, which is planned to Mali.I wish you all a productive morning and I look forward to joining you together with Chloe later this afternoon. And ultimately, we all have the shared objective and the shared vision to strengthen democracy, to strengthen media freedoms, to strengthen the rule of law and to ensure all citizens of the world have a voice.Thank you very much.last_img read more

Continue reading

Guidance: Commercial procurement pipeline for DHSC

first_imgThis forecast is provided for planned procurements of over £5 million. It does not include pipeline data for NHS Test and Trace or the PPE Cell.All planned procurements listed are subject to change and may not progress to a tender.The pipeline is published to provide information to potential suppliers to raise awareness of commercial opportunities that may be available with DHSC and how we’re planning to procure those opportunities.last_img

Continue reading

Audra McDonald Will Lead Shuffle Along Musical on B’way

first_img Shuffle Along View Comments Related Shows Who says vaudeville’s dead? Audra McDonald, George C. Wolfe and Savion Glover are teaming up to collaborate on Shuffle Along, Or, The Making of the Musical Sensation of 1921 and All That Followed. Previews will begin on March 14, 2016 and opening night is set for April 21 at the Music Box Theatre.McDonald will play 1920s star Lottie Gee. She’s won Tonys for Lady Day at Emerson’s Bar and Grill, Carousel, Master Class, Ragtime, A Raisin in the Sun and Porgy and Bess. On screen, she’s appeared in The Sound of Music Live!, Annie, Private Practice and Wit.In May 1921, Shuffle Along, a new musical conceived by Flournoy Miller and Aubrey Lyles with music and lyrics by Eubie Blake and Noble Sissle, became the unlikeliest of hits, significantly altering the face of the Broadway musical as well as that of New York City. By the time Shuffle Along stumbled into town after a back-breaking pre-Broadway tour, it was deeply in debt and set to open at a remote Broadway house on West 63rd Street. In a season full of spectacles, such as Sally—a Ziegfeld musical comedy—and another edition of George White’s Scandals, Shuffle Along’s failure was almost a foregone conclusion. New York City was still in the throes of the Depression of 1920. And despite being celebrated vaudeville performers, Miller and Lyles and Sissle and Blake had never performed on Broadway, much less written a musical.However, with an infectious jazz score and exuberant dancing, Shuffle Along ignited not just Broadway but all of New York City. George Gershwin, Fanny Brice, Al Jolson, Langston Hughes, and famed critic George Jean Nathan were among the many fans who flocked to see a cast which—during its run of 504 performances—featured such soon-to-be theatrical luminaries as Josephine Baker, Paul Robeson, Florence Mills, Fredi Washington and Adelaide Hall.Shuffle Along, Or, The Making of the Musical Sensation of 1921 and All That Followed will have music supervision, arrangements, and orchestrations by Daryl Waters. The production will feature scenic design by Santo Loquasto, costume design by Ann Roth and lighting design by Jules Fisher and Peggy Eisenhauer. Show Closed This production ended its run on July 24, 2016last_img read more

Continue reading

PNM Asks State to Approve More Solar, Wind For Facebook Inc. Data Facility

first_imgPNM Asks State to Approve More Solar, Wind For Facebook Inc. Data Facility FacebookTwitterLinkedInEmailPrint分享Albuquerque Journal:Two new wind farms and a solar facility may be built in New Mexico to supply another 266 megawatts of renewable energy to Facebook’s massive data center in Los Lunas. Public Service Co. of New Mexico asked the Public Regulation Commission on Wednesday to approve power purchase agreements with third-party producers to build new generating facilities in eastern, central and western New Mexico.PNM is already building three solar plants of its own in Los Lunas to supply 30 MW of power for the first two buildings in Facebook’s facility. But Facebook announced plans to expand to six buildings over the next five years, ramping up its energy needs. To supply the additional power, PNM negotiated agreements with two companies, Avangrid Renewables and NextEra Energy Inc., to build and run the plants and sell the energy to PNM for delivery to Facebook.PNM is requesting that the PRC expedite approval of the power purchase agreements to accommodate Facebook’s fast-track construction plans for the data center. PNM wants PRC commissioners to directly hear the case, rather than sending it first to hearing examiners for recommendations, potentially paving the way for approval by April 4.The PRC approved a new “green energy tariff” in 2016 that allows PNM to negotiate special rates with large-scale consumers like Facebook who want to power their facilities with renewable resources. The tariff covers the full cost of electricity produced, eliminating any impact on other customers’ bills. The new purchase agreements would be included under the same tariff arrangement.Facebook says the new agreements reflect the company’s commitment to exclusively power its data center with renewable resources. PNM said the partnership with Facebook is a win-win arrangement that’s creating more clean energy while boosting the local economy.More: PNM wants to add wind and solar farms for Facebook facilitylast_img read more

Continue reading

What does the CHOICE Act mean for credit unions?

first_imgHappy Friday everyone! The Legislative Affairs team is taking over the Compliance Blog this morning to bring you updates on the Financial CHOICE Act – a piece of legislation that has gotten quite a bit of news recently. At nearly 600 pages, the Act contains dozens of detailed provisions – some NAFCU is in favor of, and some not. To save you the trouble of reading through the entire bill and enduring the portions that aren’t relevant to credit unions, I thought I’d write this blog to give you a brief summary of the salient parts, what to expect in the coming weeks, and what NAFCU is doing to make sure the bill helps your credit union.But before we get started, I want to provide a bit of context. First introduced and passed in the House Financial Services Committee last year, the CHOICE Act is designed to replace large portions of the Dodd-Frank Act. Although the bill passed Committee last year, it never made it to a full House vote. Fulfilling his promise in this new Congress, Chairman Jeb Hensarling (R-TX) reintroduced the CHOICE Act on Wednesday as H.R. 10. This version contains several changes to last year’s version – hence the informal moniker, CHOICE 2.0.NAFCU is supportive of the Financial CHOICE Act as it contains a number of regulatory relief provisions for credit unions.   Issues we are pleased to see covered in CHOICE 2.0 include: continue reading » 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Continue reading

Long Island Man Charged With Sexually Exploiting Girl

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 28-year-old Long Island man was arrested for allegedly coercing a girl into engaging in sexual acts with the suspect, who also had her send him pornographic images of herself, authorities said.Hassan Khan was charged Thursday at Manhattan federal court with coercing and enticing a minor to engage in illegal sexual activity, sexual exploitation of a child, sexual exploitation of a minor outside of the United States and receipt of child pornography.“As this terrifying ordeal comes to an end, the nightmare continues for the victim and her family,” said Diego Rodriguez, Assistant Director-in-Charge of the FBI’s New York office. “Innocence, once stolen, is not easily restored.”Federal prosecutors and the FBI said that Kahn met the victim online in 2007 when she was 11, when he began grooming her to perform the alleged acts later.If convicted, he faces up to 30 years in prison. The investigation is continuing. The FBI asks anyone with information on this case to call them at 212-384-1000.last_img read more

Continue reading

Massimiliano Allegri wants to replace Unai Emery as Arsenal make contact

first_imgUnai Emery has been sacked by Arsenal after a poor run of results (AFP via Getty Images)More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man CityAdvertisementAdvertisementAccording to Sky Sports, Arsenal have made contact with Allegri and the former Juventus manager has indicated that he would take the job.The 52-year-old is currently out of work after leaving Juventus at the end of last season.Allegri has been living in London and has been learning English in preparation for a job in the Premier League. Allegri won five Serie A titles with Juventus (Getty Images)Earlier this week, it was claimed that Allegri had doubts about taking the Arsenal job as he wants to join a club who are capable of winning the Champions League.Allegri won five Serie A titles during his time as Juventus manager and guided the Italian club to two Champions League finals, although he lost on both occasions.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal Massimiliano Allegri wants to replace Unai Emery as Arsenal make contact Advertisement Metro Sport ReporterFriday 29 Nov 2019 11:42 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link4.9kSharescenter_img Comment Advertisement Massimiliano Allegri is in contact with Arsenal (Getty Images)Arsenal are in talks with Massimiliano Allegri and the Italian is open to replacing Unai Emery as manager, according to reports.Arsenal’s hierarchy have sacked Emery following the 2-1 defeat at home to Eintracht Frankfurt on Thursday evening.The Gunners are now seven games without a victory in all competitions, their worse run of form since February 1992.In a statement released on Friday morning, Arsenal said: ‘The decision has been taken due to results and performances not being at the level required.’ADVERTISEMENTFreddie Ljungberg, who was already part of Arsenal’s first-team coaching staff, has been named Emery’s replacement on an interim basis.last_img read more

Continue reading

Austria’s VBV: wrong on Brexit but right on credit strategy

first_imgSchiendl said loan funds that were added to the portfolio three years ago had been “the right choice”.“We included these at a time when the best managers were still available,” he added.VBV also expanded its in-house team over the last few years to strengthen its own credit research, Schiendl said.Apart from adding loan funds, VBV also further decreased its exposure to government bonds, especially from European periphery countries. It maintained its exposure to corporate bonds “so we could profit from the ECB’s purchasing programme”, Schiendl said.Another source of returns last year were emerging markets, which according to the CIO were “long believed to be dead”. “We even went into emerging market high yield and corporate debt,” he said.Over both two-year and five-year periods VBV outperformed the market average.Talking to IPE, Gernot Heschl, CEO at VBV Pensionskasse, said the pension fund was the main driver behind the idea of creating a long-term account in which both time as well as money can be stored. The idea of this so-called “Langzeitkonten” (literally, “long-term accounts”) was presented by the Austrian pension fund association last summer. The equity downturn in the wake of the UK’s vote to leave the EU hurt the €6.3bn Austrian pension fund VBV.For 2016 it returned 3.4%, below the market average of 4.17%.  “It was the Brexit, we simply got this one wrong,” Günther Schiendl, board member and CIO at VBV, told IPE.However, a hedging strategy put in place before the US elections, along with the pension fund’s fixed income strategy, helped to recover some of the losses.last_img read more

Continue reading