The Canary Wharf “Spens” Case: Why Welsh Caravan Parks Are a Danger to the Financial Markets

    View Author February 2016

    The Oxwich Leisure Park on Wales’s Gower Peninsular might seem a world away from the concerns of Noteholders of a Canary Wharf securitisation following the sale of a £795 million skyscraper. But a decision in the Commercial Court last week (28 January 2016) showed how in the one-size-fits-all world of English contract law they can become intertwined, with unpredictable consequences for financial markets.