Andric v Credit Suisse (UK) Ltd and another

Bank – Deposit. The claimant brought a claim against Credit Suisse (UK) Ltd and its then employee (H), alleging that his former company had been induced, by H's false representations, to become involved in raising finance for the purchase of a property in Canary Warf, and that the claimant had lost a deposit paid to Banco Espirito Santo (BES) after the property transaction had fallen through. The deposit had allegedly been paid to BES to secure credit of €320m for the purchase. The Chancery Division, in dismissing Credit Suisse's application to strike out the claim and/or for summary judgment, held that, whilst the claimant's claim that a deposit had been contractually payable to BES faced undoubted difficulties, it had a real prospect of success, and the assessment of the evidence had to await trial.

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