Close Brothers Ltd v Baleday Ltd

Practice – Summary judgment. The Chancery Division dismissed applications by the claimant and defendant for summary judgment in respect of a claim for breach of contract and a defence, respectively, where the issue concerned the true consideration due under an asset sale agreement. The evidence currently available did not enable the court to accept that the broadly pleaded case was bound to succeed, nor that it was bound to fail. Further, the court did not accept that the defence was sufficiently shadowy to justify only conditional permission to defend.

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