Contract for the sale of land – disputes – protection pending resolution of the disputes – entry of a unilateral notice – undertaking in damages

Swiss Cottage (40) Properties Limited v Primestate Investments Limited [2015] EWHC 520 (Ch) (Morgan J) (16 February and 5 March 2015)

The background facts

The claimant (V) entered into a contract in 2014 for the sale of a property to the defendant (P) for the price of £40m. A deposit of £4m was paid on exchange. The contract has not yet been completed. V is now in administration. P is a single purpose British Virgin Islands (BVI) registered company.