Canary Wharf Group legal battle over Brexit to have far-reaching consequences for landlords and tenants

EMA Canary Wharf

European Medicines Agency’s landlords stand to lose millions of pounds of rent from tenants moving because of Brexit.

As the King’s appendicitis was neither man’s fault, Mr Krell successfully argued for the first time in the history of English law that a contract had been frustrated, on the grounds that an implied condition of the contract was that the King would be at the coronation procession. As a result, Mr Krell was not liable to pay any rent.

In a case that is due to be heard in the coming weeks, the European Medicines Agency (EMA) is aiming to use this same legal precedent to win a case against landlord Canary Wharf Group so it can break a 25-year lease and move to Amsterdam. In this instance, there is no unforeseen monarchical malaise. Instead, Brexit is at the heart of the case.

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