*/
Contract – Breach of contract. The claimant brought a claim for sums allegedly due to it by JP Morgan, pursuant to structured USD and CER-linked Notes, for which the claimant had subscribed. The claimant contended that there had been a 'CER Event' within the meaning of the final terms, such as to oblige the calculation agent under the Notes to re-determine the CER. The Commercial Court, dismissing the claim, held that the relevant provisions were intended to guard against the CER's unavailability for any reason, including actions taken by the Government in preventing, restricting or limiting its calculation or announcement, not to guard against the unprecedented and unanticipated event of fabrication or distortion of the calculations of the consumer price index. The calculation agent's role was not to carry out a fresh determination of the CER and to do so was outside of its responsibility.
Contract – Breach of contract. The claimant brought a claim for sums allegedly due to it by JP Morgan, pursuant to structured USD and CER-linked Notes, for which the claimant had subscribed. The claimant contended that there had been a 'CER Event' within the meaning of the final terms, such as to oblige the calculation agent under the Notes to re-determine the CER. The Commercial Court, dismissing the claim, held that the relevant provisions were intended to guard against the CER's unavailability for any reason, including actions taken by the Government in preventing, restricting or limiting its calculation or announcement, not to guard against the unprecedented and unanticipated event of fabrication or distortion of the calculations of the consumer price index. The calculation agent's role was not to carry out a fresh determination of the CER and to do so was outside of its responsibility.
The Bar Council will press for investment in justice at party conferences, the Chancellor’s Budget and Spending Review
Equip yourself for your new career at the Bar
Louise Crush of Westgate Wealth explores some key steps to take when starting out as a barrister in order to secure your financial future
Millicent Wild of 5 Essex Chambers describes her pupillage experience
Drug, alcohol and DNA testing laboratory AlphaBiolabs has made a £500 donation to Juno Women’s Aid in Nottingham as part of its Giving Back campaign
Casedo explains how to hit the ground running on your next case with a four-step plan to transform the way you work
If you are in/about to start pupillage, you will soon be facing the pupillage stage assessment in professional ethics. Jane Hutton and Patrick Ryan outline exam format and tactics
In a two-part opinion series, James Onalaja considers the International Criminal Court Prosecutor’s requests for arrest warrants in the controversial Israel-Palestine situation
Daniel Barnett serves up a host of summer shows
Britain needs to get over its shameful denial of racism, call it what it is and start to effectively deal with the problem, says Vithyah Chelvam
An epic failure of public policy has filled our crumbling prisons to capacity, says Lord Ken Macdonald KC. How did we get here, and what might reform look like?
