Deutsche Trustee Company Ltd v Bangkok Land (Cayman Islands) Ltd and another company

Contract – Bond. The claimant trustee claimed for unpaid monies due under bonds pursuant to a trust deed, with appended bond conditions, it had entered into with the first defendant issuer, as guaranteed by the second defendant guarantor. The Commercial Court found, among other things, that the claimant had validly exercised its right in respect of bonds repayable as a result of early redemption. Accordingly, it held that the claimant succeeded in its claim against the defendants, and was entitled to, among other things, $28,201,878.12 less $760,744.53 applied from dividends paid on shares that had been pledged as security by the first defendant.

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