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Contract – Breach of contract. The Commercial Court made findings, overall in the claimant Portuguese bank's favour, in its claim for declarations that the defendant Portuguese transport companies' obligations under long-term interest rate swaps constituted legal, valid and binding obligations, enforceable in accordance with their respective terms. It rejected the defendants' defences that they lacked capacity to enter into the swaps, that art 3(3) of the Convention on the Law Applicable to Contractual Obligations 1980 applied and that the bank had acted in breach of its duties under the Portuguese Securities Code.
Contract – Breach of contract. The Commercial Court made findings, overall in the claimant Portuguese bank's favour, in its claim for declarations that the defendant Portuguese transport companies' obligations under long-term interest rate swaps constituted legal, valid and binding obligations, enforceable in accordance with their respective terms. It rejected the defendants' defences that they lacked capacity to enter into the swaps, that art 3(3) of the Convention on the Law Applicable to Contractual Obligations 1980 applied and that the bank had acted in breach of its duties under the Portuguese Securities Code.
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By David Green
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Solicitor General Ellie Reeves KC MP discusses her decade as a trade union and employment law barrister, the demands of life as a Law Officer and the number one priority shaping her work. Interview by Anthony Inglese CB
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