Venulum Property Investments Ltd v Space Architects Ltd and others

Practice – Pre-trial or post-judgment relief. The claimant was a regulated mutual fund it sought to purchase a site and develop it by a team supplied by the defendants. The claimant entered into a contract for the purchase of the site, planning consent for which had been given in principle for the development of the 155 flats together with 171 parking places. It was a term of the contract that if planning permission was not granted by 31 December 2006, either party would be entitled to rescind the contract and the deposit would be repaid to the claimant with interest. The claimant brought an action in contract and tort against the defendants. The Technology and Construction Court refused largely to strike out the claim on the basis that it was not fanciful and it could not be determined on a summary application whether the claimants claim was stature barred.