The court was asked whether bankers have complied with the re-delivery requirements of repo transactions in relation to cargoes of metal by delivering endorsed warehouse receipts to their counterparty, notwithstanding that (i) there is uncertainty as to the existence of the metal and (if it exists) the bankers’ title to it, and (ii) the warehouse operators have not attorned to (that is, have not acknowledged that they hold the goods on behalf of) the counterparty as required by s29(4) of the Sale of Goods Act 1979 (‘the Act’).
Judges:
Phillips J
Citations:
[2015] EWHC 1481 (Comm)
Links:
Jurisdiction:
England and Wales
Banking
Updated: 20 May 2022; Ref: scu.547085