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Statement of claim – Amendment. The claimant entered into a loan agreement with the defendant banks (together the bank). Under the conditions of the loan, the claimant entered into an amortising base rate swap with the bank (the swap). The claimant brought proceedings, contending, among other things, that it had been mis-sold the swap. Only weeks before the trial, the claimant applied for permission to amend its particulars of claim. The Chancery Division ruled that the present case was one where the balance came down firmly in favour of refusing permission for the disputed amendments where the application had been made too late, the amendments were formulated with insufficient clarity and particularity, and where the bank would face real and substantial prejudice if the application were allowed.
Statement of claim – Amendment. The claimant entered into a loan agreement with the defendant banks (together the bank). Under the conditions of the loan, the claimant entered into an amortising base rate swap with the bank (the swap). The claimant brought proceedings, contending, among other things, that it had been mis-sold the swap. Only weeks before the trial, the claimant applied for permission to amend its particulars of claim. The Chancery Division ruled that the present case was one where the balance came down firmly in favour of refusing permission for the disputed amendments where the application had been made too late, the amendments were formulated with insufficient clarity and particularity, and where the bank would face real and substantial prejudice if the application were allowed.
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Giovanni D’Avola explores the issue of over-citation of unreported cases and the ‘added value’ elements of a law report
Louise Crush explores the key points and opportunities for tax efficiency
Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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