In a judgment handed down on 24 November 2017, Pendennis Shipyard learned the outcome of its application to the Upper Tribunal (Lands Chamber) in the Royal Courts of Justice for the modification of a restrictive covenant affecting part of its estate in Falmouth. In summary, Pendennis invested some £8 million in developing a wet basin on its estate, to allow works to be undertaken in a sheltered location. The land on which the wet basin is situated was subject to a restrictiv