LSREF III Wight Ltd v Millvalley Ltd

Contract – Restitution. The Commercial Court allowed the claimant company's application for a declaration as to the construction of an interest rate swap agreement. It held that, among other things, the swap in question was not governed by a 2002 ISDA master agreement, and the swap would be rectified so that it was governed by the agreement. Consequently, the early termination amount was due and payable to the claimant.

Category: