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Minor variations of guaranteed obligations do not discharge a performance guarantee (TCC)
Practical Law UK Legal Update Case Report 3-508-3729 (Approx. 9 pages)
Minor variations of guaranteed obligations do not discharge a performance guarantee (TCC)
by PLC Construction and PLC Finance
In Hackney Empire Ltd v Aviva Insurance UK Ltd [2011] EWHC 2378 (TCC), the Technology and Construction Court (TCC) gave judgment on liability against a surety (bondsman) in relation to a claim for liquidated damages due from an insolvent contractor, holding that a side agreement and advance payments on account of a loss and expense claim did not discharge the surety's liability under the bond.
Note added (16.7.12): Permission to appeal against the decision of the TCC was granted on 27 January 2012. The appeal is due to heard on 20 November 2012.
Note added (19.12.12): The Court of Appeal dismissed the appeal in a unanimous judgment dated 19 December 2012. We will report on the judgment in more detail in January 2013.
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Resource ID 3-508-3729© 2024 Thomson Reuters. All rights reserved.
Published on 28-Sep-2011
Resource Type Legal update: case report
Jurisdictions
Related Content- England
- Wales