Important Decision on the Right of Subrogation: Day v Tiuta International Ltd [2014] EWCA Civ 1246

The Court of Appeal has handed down its decision in Day v Tiuta International Ltd [2014] EWCA Civ 1246. The case raises issues as to the exercise of the right of subrogation of a chargee in circumstances where the chargor has an unliquidated cross-claim for damages. Mark Warwick QC appeared for the appellant.