ICICI Bank UK plc v Assam Oil Co Ltd and other companies

Practice – Summary judgment. The claimant bank's application for summary judgment succeeded, in a claim concerning the alleged failure of the first defendant company (Assam) to pay sums owing under an amended facility agreement (the AFA). The Commercial Court held that, on the evidence, Assam had no realistic prospect of successfully denying at a trial that the disputed four categories of payment had been contractually owed. Consequently, the allegation that the bank had made a misrepresentation as to the principal sum owed, which had induced Assam to enter into the AFA, fell away.

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