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ARTICLE · 15 FEBRUARY 2018

Finance Litigation: The Latest Cases And Issues In January 2018

Gowling WLG
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ABN Amro Bank NV was entitled to summary judgment in relation to unpaid sums under a facility agreement

United KingdomFinance and Banking
Ian Weatherall
Ian Weatherall
Turon Miah
Turon Miah
Jane Bates
Jane Bates
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Gowling WLG's finance litigation experts bring you the latest on the cases and issues affecting the lending industry, looking at 'no set-off' clauses and the court's discretion in exercising a stay of execution of a judgment, the proper procedure for contempt of court proceedings against a bankrupt under the Insolvency Act 1986, as well as other cases and issues.

Effect of no set-off clause on counterclaim

It is well understood that the courts will seek to give effect to the express terms of a contract. In ABN Amro Bank NV v Totisa Holdings SA and others, the effect of the court doing so was to refuse to grant a stay of execution of a judgment (the Stay) pending determination of a counterclaim.

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