barclays_kufnerComC2008
The bank sought summary judgment under a guarantee to secure a loan to purchase a luxury yacht which was to be hired out in business. The loan had been charged against the yacht, but when the yacht was re-registered, the bank failed to re-establish its charge.
Held: The application succeeded. There was no duty in equity on the bank to re-establish the charge, since the agreement allowed it to release the charge. Was the bank a supplier within the 1999 Regulations? Whilst the Regulations might apply to a banking guarantee, the defendant here was not acting as a consumer, and therefore they did not apply to him. Nor could he sustain a defence based on negligent misrepresentation.
Field J
[2008] EWHC 2319 (Comm)
Bailii
Unfair Terms in Consumer Contracts Regulations 1999 4(1)
Citing:
Cited – Canada Steamship Lines Ltd v The King PC 21-Jan-1952
A lease of a freight shed exonerated the lessor from ‘any claim . . for . . damage . . to . . Goods . . being . . in the said shed’ and requiring the lessee to indemnify the lessor ‘from and against all claims’. The negligent use of an oxy-acetylene . .
Cited – Skipton Building Society v Stott CA 2001
The issue was whether a mortgagee had sold at an undervalue, and if so what the damages should be.
Held: In a well-developed property market where a sale is assured and the only possible issue is as to the market level, damages for loss of . .
Cited – Bayerische Hypotheken- und Wechselbank v Dietzinger ECJ 17-Mar-1998
The court was asked whether the Directive applied to a bank guarantee given by a natural person who was not acting in the course of a trade or business to secure the overdraft of a third party.
Held: The scope of the Directive is not limited . .
Cited – Bank of Scotland v Singh 17-Jun-2005
. .
Cited – Skipsredittforeningen v Emperor Navigation SA 1997
The court considered the reaonableness of a contract clause which sought to exclude liability for misrepresentation: ‘The consequence of the approach adopted in Stewart Gill [[1992] 1 QB 600] is (as the present case shows) that the court may hear . .
Cited – Standard Bank London Ltd v Apostolakis and Another ComC 9-Feb-2001
Banking and financial services – conflict of laws – contract – anti-suit injunction – unfair contract terms – defendants signed foreign exchange margin trading agreement in greece – proceedings in greece and england – agreement contained english . .
Cited – Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) CA 1982
A plaintiff shareholder cannot recover damages merely because the company in which he has an interest has suffered damage. He cannot recover a sum equal to the diminution in the market value of his shares, or equal to the likely diminution in . .
Cited – Johnson v Gore Wood and Co HL 14-Dec-2000
Shareholder May Sue for Additional Personal Losses
A company brought a claim of negligence against its solicitors, and, after that claim was settled, the company’s owner brought a separate claim in respect of the same subject-matter.
Held: It need not be an abuse of the court for a shareholder . .
Cited – WRM Group Limited (Formerly Known As WRM Logistics Limited) v Wood; Burcher; Wood; Chick and Irving CA 21-Nov-1997
Breach of share sale agreement. . .
Cited – Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) CA 1982
A plaintiff shareholder cannot recover damages merely because the company in which he has an interest has suffered damage. He cannot recover a sum equal to the diminution in the market value of his shares, or equal to the likely diminution in . .
Lists of cited by and citing cases may be incomplete.
Banking, Consumer
Updated: 02 November 2021; Ref: scu.278851
