*Golden Belt 1 Sukuk Company BSC(C) v BNP Paribas; FCOF II UB Securities LLC and others v BNP Paribas

Bank – Negligence. The Financial List held that the defendant bank, Bnp Paribas, (BNPP), as the arranger of an Islamic financing transaction known as a 'Sukuk', had owed a duty to the claimant in the second action (together, the Funds), but not to the claimants in the first action, to take reasonable care to ensure that a promissory note issued in respect of the Sukuk had been properly executed. The Funds were the holders of the Sukuk certificates in question. The court held that BNPP had breached the duty owed to the Funds and was liable to them in damages to be assessed at a further hearing.

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