Defeased Leases: Some Light, If Not Certainty.
Mondaq Business Briefing › Nbr. 2005, January 2005
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Summary
Barclays Mercantile Finance Limited
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Extract
Defeased Leases: Some Light, If Not Certainty.
The long running saga of Barclays Mercantile Finance Limited ("BMBF") v Mawson reached its conclusion in the House of Lords on 25 November 2004. The final resolution of this case has brought some relief to finance lessors. What was generally perceived as an aggressive attack by the Inland Revenue on finance leasing and in particular defeased transactions has, to some extent, been curtailed.
The case is of great importance in resolving the tax treatment of a large ...See the full content of this document
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