Brexit Does Not Frustrate a Commercial Lease

ByMichael Morrison

Brexit Does Not Frustrate a Commercial Lease

A recent High Court challenge by the European Medicines Agency (EMA) to sever the commercial lease for its offices was won by its landlord the Canary Wharf Group. The EMA complained that its lease signed in 2014 for 25 years had been frustrated by Brexit which it contended was an unforeseen event. The value of the lease is £500m and the EMA intended to move to Amsterdam.

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