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Contract – Loan agreement. The defendant entered into a number of financing arrangements with a consortium of banks, including the Royal Bank of Scotland (RBS), concerning the purchase of a property in Madrid. The rights and obligations under a junior loan, an upside fee agreement (UFA) and a personal loan had been transferred from RBS to the claimants. The defendant defaulted on the personal loan. The claimants claimed the principal sum of €105,201,095.89, to which they claimed to be entitled as a fee due under the UFA, plus interest. The Commercial Court held that a 'payment event' had occurred, pursuant to the events of default under the agreement. Further, a clause in the agreement allowing for the fee, was not unenforceable as a penalty or disguised penalty.
Contract – Loan agreement. The defendant entered into a number of financing arrangements with a consortium of banks, including the Royal Bank of Scotland (RBS), concerning the purchase of a property in Madrid. The rights and obligations under a junior loan, an upside fee agreement (UFA) and a personal loan had been transferred from RBS to the claimants. The defendant defaulted on the personal loan. The claimants claimed the principal sum of €105,201,095.89, to which they claimed to be entitled as a fee due under the UFA, plus interest. The Commercial Court held that a 'payment event' had occurred, pursuant to the events of default under the agreement. Further, a clause in the agreement allowing for the fee, was not unenforceable as a penalty or disguised penalty.
Chair of the Bar reports back
Marie Law, Director of Toxicology at AlphaBiolabs
A £500 donation from AlphaBiolabs has been made to the leading UK charity tackling international parental child abduction and the movement of children across international borders
Marie Law, Director of Toxicology at AlphaBiolabs, outlines the drug and alcohol testing options available for family law professionals, and how a new, free guide can help identify the most appropriate testing method for each specific case
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Marie Law, Director of Toxicology at AlphaBiolabs, examines the latest ONS data on drug misuse and its implications for toxicology testing in family law cases
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