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Contract – Construction. The claim concerned notice provisions of an International Swaps and Derivatives Master Agreement 1992 and whether a bank had validly exercised its contractual right to extend the term of a five-year interest rate collar transaction by giving notice to the defendant company. The Chancery Division held that the purported notice sent by the bank by email was not a valid and effective notice and did not operate to extend the term of the collar.
Contract – Construction. The claim concerned notice provisions of an International Swaps and Derivatives Master Agreement 1992 and whether a bank had validly exercised its contractual right to extend the term of a five-year interest rate collar transaction by giving notice to the defendant company. The Chancery Division held that the purported notice sent by the bank by email was not a valid and effective notice and did not operate to extend the term of the collar.
Our call for sufficient resources for the justice system and for the Bar to scrutinise the BSB’s latest consultation
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