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ARTICLE · 25 OCTOBER 2017

Finance Litigation: The Latest Cases And Issues In October 2017

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Gowling WLG's finance litigation experts bring you the latest on the cases and issues affecting the lending industry.

United KingdomFinance and Banking
Turon Miah
Turon Miah
Ian Weatherall
Ian Weatherall
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Gowling WLG's finance litigation experts bring you the latest on the cases and issues affecting the lending industry.

No clear and unequivocal promise by bank not to rely upon its strict legal rights

There needs to be clear and unequivocal evidence of a promise that a lender would not insist on its strict legal rights before a court will make a finding of promissory estoppel to that effect.

In Clydesdale Bank Plc v Gough (trading as JC Gough & Sons) and another, Clydesdale Bank PLC (the Bank) advanced substantial sums to the defendants under financing agreements which were secured by way of legal charges over two properties and a guarantee. Additional finance was required without any repayment being made and eventually the Bank demanded repayment. The defendants failed to repay the sums due. Receivers were appointed and possession of the two properties was sought.

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