Posted by Michael Wonder on 20 Feb 2019
Brexit doesn't mean EU agency can break Canary Wharf lease
20 February 2019 - EU departure doesn’t allow medicines agency to break its lease.
A London judge gave landlords a bit of good news in a difficult environment, ruling that the European Medicines Agency couldn’t use Brexit as an excuse to break its 500 million-pound ($651 million) lease in Canary Wharf.
Judge Marcus Smith ruled in favour of the Canary Wharf Group, the EMA’s landlord, on Wednesday, saying that the European Union agency remains obligated to honour the lease even though it’s relocating to Amsterdam. The case is one of the first in the U.K. to grapple with the commercial ramifications of Britain’s departure from the bloc.
