Credit Suisse Asset Management LLC v Titan Europe 2006-1 plc and others; Credit Suisse Asset Management LLC v Titan Europe 2006-2 and others

Bank – Bank loan. The Court of Appeal, Civil Division dismissed the appeal of the claimant Credit Suisse. In so doing it agreed with the trial judge that in coming to the proper interpretation of a trust deed and conditions by which notes (including Class X and Class A to H notes) were issued in four securitisation structures, no account should be taken of additional interest following a default under the loans, only of the interest rate ordinarily payable by the borrower.

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