*Decura IM investments LLP and others v UBS AG, London Branch

Bank – Contract. The parties made a contract, whereby the claimants, Decura, would exclusively supply the defendant company, UBS with financial products and services. A dispute arose out of Decura's asserted right to terminate pursuant to cl 20 of the contract. The Commercial Court, in finding for UBS, held that the word 'material' would be defined as 'substantial' or 'insignificant', and that, on the wording of the contract, there had been no cessation of a part of UBS' business that proved Decura's case.

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