Barclays Bank Plc v Taberna Europe CDO I Plc & Ors [2016] EWHC 1958 (Ch) (14 July 2016)

Barclays Bank Plc v Taberna Europe CDO I Plc & Ors [2016] EWHC 1958 (Ch) (14 July 2016)

It is not appropriate to restrict Barclays' disclosure to only the two issues originally proposed; standard disclosure should be ordered, as it will in practice relate only to the significant factual issues identified, with parties expected to limit the scope and cost of disclosure through sensible agreement on timeframes and custodians.

Citation
[2016] EWHC 1958 (Ch)
Parties
Claimant: Barclays Bank plc; First Defendant: Taberna Europe CDO I plc; Second Defendant: Taberna European Capital Management LLC; Third Defendant: Third Defendant
Jurisdiction
England and Wales
Judgment Date
14 July 2016
Procedural Posture
Disclosure Application in Financial Litigation / Interlocutory Application for Disclosure Order
Outcome
Application for issue-based disclosure refused; standard disclosure ordered.
Legal Topics
Disclosure, Standard Disclosure, Issue Based Disclosure, Civil Procedure Rules, Financial Instruments
Civil Procedure Banking and Finance Disclosure Standard Disclosure Issue Based Disclosure Civil Procedure Rules Financial Instruments

Case Brief

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Parties

Barclays Bank plc

Claimant

Taberna Europe CDO I plc

First Defendant

Taberna European Capital Management LLC

Second Defendant

Third Defendant

Third Defendant

Procedural Posture

Disclosure Application in Financial Litigation / Interlocutory Application for Disclosure Order

Legal Issues

  1. 1 Whether Barclays should be ordered to give standard disclosure or issue-based disclosure
  2. 2 Scope of disclosure required from Barclays in relation to specific factual issues

Ratio Decidendi

It is not appropriate to restrict Barclays' disclosure to only the two issues originally proposed; standard disclosure should be ordered, as it will in practice relate only to the significant factual issues identified, with parties expected to limit the scope and cost of disclosure through sensible agreement on timeframes and custodians.

Court Disposition

Application for issue-based disclosure refused; standard disclosure ordered.

Orders

  • Barclays to give standard disclosure, with practical limitations to be agreed between the parties to confine the scope, timeframes, and custodians.