Landlord and tenant

The decision of HHJ Keyser QC in Quirkco Investments Ltd v Aspray Transport Ltd [2011] EWHC 3060 (Ch), although ultimately turning on the proper construction of a lease, raises a number of interesting general questions of insurance law, including payment of the premium, noting and subrogation waiver.

Quirkco: the facts

By a lease dated 3 January 2001 Asprey became the tenant of commercial premises for a period of 15 years. Quirkco purchased the reversion in 2003 and thus became the landlord. Clause 5 of the lease imposed upon Quirkco the obligation to insure and maintain property insurance and, by clause 5.1.3: