Landau v Barclays Bank Plc

Landau v Barclays Bank Plc

Mr Landau is entitled to 30% of the whole net recoveries under the Tomlin order, as the settlement was in connection with claims brought by reference to the second Grimleys report, and the side letter did not require apportionment between the three reports.

Parties
Claimant/respondent: Leser Landau; Defendant/appellant: Barclays Bank Plc
Jurisdiction
England and Wales
Judgment Date
30 January 2004
Procedural Posture
Civil Appeal / Court of Appeal Judgment on Appeal and Cross Appeal From High Court
Outcome
Appeal dismissed; cross-appeal allowed
Legal Topics
Construction of Contractual Terms, Assignment of Claims, Settlement Agreements, Entitlement to Settlement Proceeds
Contract Law Banking Law Construction of Contractual Terms Assignment of Claims Settlement Agreements Entitlement to Settlement Proceeds

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Parties

Leser Landau

Claimant/respondent

Barclays Bank Plc

Defendant/appellant

Procedural Posture

Civil Appeal / Court of Appeal Judgment on Appeal and Cross Appeal From High Court

Legal Issues

  1. 1 Whether Mr Landau is entitled to 30% of the whole net recoveries under the Tomlin order or only a proportion referable to the second Grimleys report
  2. 2 Proper construction of the side letter dated 28th October 1997 regarding entitlement to settlement proceeds

Ratio Decidendi

Mr Landau is entitled to 30% of the whole net recoveries under the Tomlin order, as the settlement was in connection with claims brought by reference to the second Grimleys report, and the side letter did not require apportionment between the three reports.

Court Disposition

Appeal dismissed; cross-appeal allowed

Orders

  • Set aside the judge's order limiting entitlement to a proportion; declare entitlement to 30% of the whole net recoveries under the Tomlin order
  • Order for payment of recalculated interest at 4.85%