African Export-Import Bank and others v Shebah Exploration & Production Company Ltd and others

Contract – Unfair terms. The Court of Appeal, Civil Division, dismissed the appellants' appeal against summary judgment made in favour of the claimant banks for sums due for repayment under a facility agreement, whereby the banks had agreed to advance US $150m to the first appellant. A party who wished to contend that it was arguable that a deal was on standard business terms, within s 3 of the Unfair Contract Terms Act 1977, had to produce some evidence that it was likely to have been so done. It was not right that any defaulting borrower could just assert that business was being done on standard terms and that the lender then had to disclose the terms of other transactions he had entered into before he was entitled to summary judgment.

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