In this article, Brad Pomfret KC, Asa Tolson and Rebecca Jones consider whether resource-backed loans secured by an ad infinitum pledge of the resources concerned risk creating irredeemable security as a matter of English law.
29 SEP 2025A majority decision of the UK Supreme Court, Barton v Morris [2023] UKSC 3, handed down in January this year confirmed the existence of the subsisting contract rule, the effect of which is that where services are provided under a valid contract no claim to payment will generally lie in unjust enrichment, the parties’ rights and obligations being limited to those provided for by the contract.
1 JUL 2023