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ARTICLE · 25 OCTOBER 2022

S&B v Bourn – The Thresholds And Parameters For Claimants Seeking Summary Judgment

Mayer Brown
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The claimant is a company which introduces businesses to potential funders.

United KingdomFinance and Banking
Airlie Goodman
Airlie Goodman
Sarah Shearman
Sarah Shearman
Hormis Kallarackel
Hormis Kallarackel
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Summary

On 20 September 2022, the High Court handed down a judgment in S&B Consultancy Services Limited v Bourn and Anor [2022] EWHC 2359 (Comm), a claim relating to unpaid fees under an introducer agreement. The court dismissed the claimant's application for summary judgment on a portion of the Defence, on the basis that it raised a novel point of law about whether the Claimant's actions constituted performance for the purposes of s26 of the Financial Services and Markets Act 2000.

We will be closely monitoring any decision of the court made following a trial on this issue, which will be of interest to firms engaged in UK regulated activities, in particular those paying/receiving introducer fees. The substantive judgment on the s26 defence should clarify whether, when and how that provision may operate to nullify introducer agreements. It may also shed light on how the court perceives possible links between an introduction and any unauthorised advising and

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