In 2008, the claimants, PGF, were the landlord of a six-storey office building in Lime Street in the City of London. The building was let to Royal & Sun Alliance (the first defendant) under a 35 year lease until 24 June 2008 and, in turn, sub-let to London & Edinburgh Insurance (the second defendant) on a sub-lease expiring four days before the expiry of the head lease.