||All England Reporter
|| All ER (D) 340 (May)
||John Higham QC and Luke Parsons (instructed by Stephenson Harwood) for the claimant.
||Ian Hunter QC and Nigel Eaton (instructed by Lawrence Jones) for the defendant.
||22 May 2002
Guarantee - Loss - Recovery - Defendant bank issuing demand performance guarantee - Claimant bank seeking recovery under guarantee from defendant - Defendant contending guarantee void on ground underlying transaction a sham - Whether underlying transaction a sham.
The court gave judgment in favour of the claimant bank in the sum of $US10m in an action brought under a guarantee against the defendant issuing bank; on the facts, the bank's defence that the guarantee was void because the underlying transactions were fraudulent would be dismissed.
- The All England Law Reports comprises judgments with headnotes and catchwords indicating the area of law and key issues of the case prepared by legally qualified editorsFind AllER Reports
- Cases related to this particular case that are related to, or discuss this caseView related cases
- Commentary discussing this particular case from LexisLibrary's comprehensive range of titles including Butterworths, Halsbury's and TolleyView related commentary