*Goldman Sachs International v Videocon Global Ltd and another

Contract – Condition. Following early termination by the claimant of an ISDA Master Agreement, the claimant sought summary judgment on its claim for money said to be owed. The application was dismissed due to the claimant's failure to provide the defendants with sufficient details of how the sum claimed had been calculated. The claimant provided further calculations, more than two years after termination of the agreement, and again applied for summary judgment. The Commercial Court allowed the application as, on the proper construction of cl 6(d) of the ISDA Master Agreement, the second notification, although late, had been effective and so the sums owed had been payable under that clause.

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