Barclays Bank Plc v Nylon Capital LLP
The expert determination clause in the LLP agreement only applies after an allocation has been made by the Managing Member; since no allocation was made, the expert has no jurisdiction, and the court should not stay proceedings. The court, not the expert, must determine jurisdiction where allocation is a condition precedent.
- Parties
- Claimant/respondent: Barclays Bank PLC; Defendant/appellant: Nylon Capital LLP
- Jurisdiction
- England and Wales
- Judgment Date
- 18 July 2011
- Procedural Posture
- Civil Appeal / Court of Appeal Judgment
- Outcome
- Appeal dismissed
- Legal Topics
- Expert Determination, Jurisdiction, Interpretation of Contracts, Stay of Proceedings
Case Brief
Summary, issues, holding and outcome
More case intelligence is available
Unlock the full research layer for this judgment.
Parties
Barclays Bank PLC
Claimant/respondent
Nylon Capital LLP
Defendant/appellant
Procedural Posture
Civil Appeal / Court of Appeal Judgment
Legal Issues
- 1 Whether the court should stay proceedings pending expert determination under the LLP agreement
- 2 Whether the expert has jurisdiction to determine disputes regarding profit allocation absent an allocation
- 3 Interpretation of expert determination clauses
Ratio Decidendi
The expert determination clause in the LLP agreement only applies after an allocation has been made by the Managing Member; since no allocation was made, the expert has no jurisdiction, and the court should not stay proceedings. The court, not the expert, must determine jurisdiction where allocation is a condition precedent.
Court Disposition
Appeal dismissed
Orders
- Proceedings brought by Barclays are not stayed
- No determination by expert unless allocation is made
Full Case Text
Judgment text and source record
Sign in to read
Sign in to read the full judgment text
Sign in to read the full judgment text. Downloads and additional research tools may depend on your plan.
Sign in to read the full judgment