Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 13 DECEMBER 2007

Developments In Finance Litigation

Stephenson Harwood
Stephenson Harwood
Contributor
Stephenson Harwood

Stephenson Harwood

Stephenson Harwood is an international law firm, and we're committed to creating 'positive...

View firm profile
Explore more from Stephenson Harwood

Banks who are participating in a borrower work-out or negotiating an agreement whereby one bank will take out the other, should take note of a recent decision of the High Court in National Westminster Bank plc v Rabobank Nederland [2007] EWCH 1056 (Comm) in which the Court ruled on the duties of disclosure in such circumstances.

United KingdomLitigation, Mediation & Arbitration
Sue Millar
Sue Millar

Disclosure In Work-Outs

Banks who are participating in a borrower "work-out" or negotiating an agreement whereby one bank will "take out" the other, should take note of a recent decision of the High Court in National Westminster Bank plc v Rabobank Nederland [2007] EWCH 1056 (Comm) in which the Court ruled on the duties of disclosure in such circumstances.

Rabobank Nederland ("Rabobank") and National Westminster Bank plc ("NatWest") made available an unsecured credit facility and overdraft facility to Yorkshire Food Group Plc ("the Borrower"), a public company in the business of the processing and sale of dried fruit and nuts, founded by a Mr Michael Frith ("Mr Frith"). Both these facilities were extended in March 1996 to a US$100 million credit facility and a £4 million overdraft facility.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Meta's $18 Billion Settlement: Reckoning Or Managed Exit?

Meta has agreed to pay up to $18 billion over 10 years to settle claims by 52 US state and territory attorneys general in the largest state consumer-protection settlement in American history outside tobacco. The settlement imposes binding child-safety obligations including time limits and age assurance, but leaves the core algorithmic feed unchanged and raises questions about whether this represents genuine accountability or a commercially managed outcome.
United KingdomLitigation, Mediation & Arbitration
Mishcon de Reya LLP
Mishcon de Reya LLP
Article

Game Developer And Publisher Battle Over Step In Rights

A High Court ruling examines a contentious dispute between a video game developer and publisher over milestone-based funding and "step in" rights for the first-person shooter Six Days in Fallujah. With over $50 million in development costs at stake and allegations of conspiracy to acquire proprietary source code, the court declined to grant either party interim control of the game's development, leaving both sides without the "keys to the kingdom" pending a full trial.
United KingdomLitigation, Mediation & Arbitration
Lewis Silkin
Lewis Silkin
Article

LNG Charterparty Hire Formula: Meaning Of JKM–TTF Pricing Spread

The Commercial Court ruled on a USD 29 million dispute over an LNG carrier charterparty's index-linked pricing formula, determining whether the "JKM-TTF spread" operated bidirectionally or only when JKM exceeded TTF. The decision examines how unprecedented market conditions—where European gas prices surged above Asian prices due to the Ukraine war—tested the contractual formula's application and whether rectification could remedy an alleged drafting oversight.
European UnionLitigation, Mediation & Arbitration
CMS Wistrand
CMS Wistrand
Video

One-Punch Manslaughter – When A Single Blow Kills (Video)

A split-second decision can change lives forever. In one-punch manslaughter cases, a single impulsive blow, perhaps thrown in anger, fear or misguided bravado, leads to a tragic death. These ‘death by a single punch’ incidents are more common in the UK than many realise. Dozens of families every year are left devastated, with one family grieving an unimaginable loss, and another family shocked and fearful as their loved one faces a homicide investigation for an outcome no one intended. It’s a tragic reality, one moment of anger, one fatal assault involving a single blow, and two lives (and families) ruined.
United KingdomLitigation, Mediation & Arbitration
Olliers Solicitors
Olliers Solicitors
Article

UK Government Announces Social Media Ban For Under-16s: Enforcement And Next Steps

The UK Government has announced plans to ban social media platforms from offering services to children under 16, marking a significant escalation in the country's approach to children's online safety. The proposal extends beyond a blanket ban to target harmful functionality including livestreaming and certain messaging features, with platforms expected to implement robust age assurance measures and demonstrate effective compliance with child safety requirements. Organisations operating in-scope services fac
United KingdomMedia, Telecoms, IT, Entertainment
Stephenson Harwood
Stephenson Harwood