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Hazell v Hammersmith and Fulham London Borough Council: HL 1991

Swap deals outwith Council powers The authority entered into interest rate swap deals to protect itself against adverse money market movements. They began to lose substantial amounts when interest rates rose, and the district auditor sought a declaration that the contracts were void, there being no express power in the relevant legislation. Held: The arrangements … Continue reading Hazell v Hammersmith and Fulham London Borough Council: HL 1991