Menelaou v Bank of Cyprus plc

Subject Matter

RESTITUTION — Unjust enrichment — Subrogation — Bank holding charges over property to secure owners’ indebtedness — Bank agreeing to release charges to enable owners to sell property in order to purchase new property and repay part of indebtedness on condition that bank granted charge over new property — Charged property sold and new property purchased subject to new charge — Original charges not released until after sale and purchase completed — Charge over new property invalid — Whether bank entitled to be subrogated to unpaid vendor’s lien so as to have equitable charge over new property

[2013] EWCA Civ 1960; [2014] 1 WLR 854; [2013] 2 P & CR 21; [2013] WLR (D) 266, CA

RESTITUTION — Unjust enrichment — Subrogation — Bank holding charges over property to secure owners’ indebtedness — Bank agreeing to release charges to enable owners to sell property to allow purchase of new property for daughter and repayment of part of indebtedness on condition that bank granted charge over new property — Charged property sold and new property purchased subject to new charge — Original charges not released until after sale and purchase completed — Charge over new property defectively executed and void — Whether bank entitled to be subrogated to unpaid vendor’s lien so as to have equitable charge over new property

[2015] UKSC 66; [2016] AC 176; [2015] 3 WLR 1334; [2016] 2 All ER 913; [2016] 2 All ER (Comm) 259; [2015] 2 Lloyd's Rep 585; [2016] 1 BCLC 335; [2015] WLR (D) 438; Case details, SC(E)

Appellate History