Summary A financier had not been entitled to serve a formal demand as it had, at the time of the demand, held excess funds that had been wrongly deducted as capital repayments from a borrower's bank account, which meant that no sums were in fact due at the relevant time....

Summary The court determined a number of costs issues in a case where the costs of the successful claimant were likely to exceed the damages awarded. Facts The court was required to determine a number of issues concerning costs. The claimant (S) had brought proceedings against the defendants (B and...

Summary If a party was charged with drawing up a court order it was the duty of its solicitors and counsel to produce a draft that fairly reflected what they thought that the judge had decided or directed. A defendant was entitled to its costs unnecessarily incurred as a result...

Summary The "value clean" principle established in relation to the 1992 ISDA Master Agreement had not been preserved by the changes to the closing out provisions introduced by s.14 of the 2002 ISDA Master Agreement. The provisions of a side letter agreement entered into alongside certain Intercompany Transactions were therefore "material terms"...

Summary A bank's claim in debt under a facility agreement succeeded and it was entitled to possession of properties charged to secure the defendants' indebtedness under the facility. A no set-off clause in the facility excluded any counterclaims that the defendants might have had. Facts The claimant bank (D) brought...

Summary The court summarised the legal principles applicable to a situation where the landlord of a long lease claimed damages at the expiry of the lease for the cost of remedying dilapidations. The central issue was whether the repair covenants in a 35-year lease would have been met by delivering...

Summary It was just and convenient in the circumstances to continue a freezing order and permit a claimant to cross-examine the defendant on the disclosure it had given. The claimant had a good and arguable case, and there was the possibility that the defendant's assets would be dissipated if both...