Wani LLP v Royal Bank of Scotland plc and another

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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