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Contract Terms United Kingdom Banks

Sullivan & Worcester

Sullivan works with ITFA on Launch of Short Term SWIFT FI Trade Loan Template

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London, UK – Geoffrey Wynne, partner and head of Sullivan's Trade & Export Finance Group, worked with an ITFA working group headed by Paul Coles, chair of its Market Practice Committee, to develop a Short Term SWIFT Financial...more

Pillsbury Winthrop Shaw Pittman LLP

High Court of England and Wales Decision Clarifies “Lender Discretion”

Borrowers and lenders negotiating commercial loan agreements should use precise contractual language to avoid having terms implied into their agreements. In MacDonald Hotels Limited & Anr v Bank of Scotland Plc [2025] EWHC 32...more

A&O Shearman

Indemnity or indemNOTy? The difference between a guarantee and an indemnity

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A bank sought payment under “deeds of indemnity” related to swap agreements which were part of a number of Dutch mortgage-backed securitisations. The mortgage provider refused to pay, a key argument being that the “deeds...more

A&O Shearman

Where there's no waiver, there's no way

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The English High Court has provided further guidance on the interpretation of “no waiver” clauses in a recent decision. The backdrop to this decision was a sanctions related dispute about the termination of a currency swap...more

Goodwin

The Silicon Valley Bank UK insolvency: FAQ for those doing business with the Bank

Goodwin on

News of the failure of Silicon Valley Bank in the United States has dominated headlines over the last few days. Late yesterday, Friday, 10 March 2023, the Bank of England made an announcement about the status of Silicon...more

BCLP

High Court hands down first ever merits judgment on international banking transfer rights under Lebanese law - Vatche Manoukian v...

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Following the recent decision of the High Court, in which specific performance was ordered against two Lebanese banks in favour of our client, Vatche Manoukian, the Court has now handed down its fully reasoned judgment. ...more

White & Case LLP

Advance payment guarantees: three unsuccessful attempts to prevent encashment

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Advance payment guarantees are commonly used in the construction industry. However, successful challenges to a demand made under an advance payment guarantee appear to be less common. This article looks at three recent cases...more

White & Case LLP

The EU loan syndication impact assessment is out: more competition scrutiny ahead?

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Setting the scene The long anticipated European Commission (DG COMP) report on "EU loan syndication and its impact on competition in credit markets" (see here) has finally been published. The study primarily focuses on the...more

A&O Shearman

Substantive inconsistency between express and implied terms

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The Court of Appeal has considered the question of when a proposed implied term should be considered “inconsistent” with an express term of a contract, contrasting direct linguistic inconsistency and substantive...more

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