Braintree Leisure Ltd v Nationwide Building Society [2013] EWHC 4282 (QB) (08 November 2013)

Braintree Leisure Ltd v Nationwide Building Society [2013] EWHC 4282 (QB) (08 November 2013)

Permission to adduce expert evidence is granted because the nature of the arrangement as a swap is a pleaded issue and the claimant should have the opportunity to present expert evidence, especially given the defendant's evidence on the same point. Permission to amend the pleadings is also granted as the amendment is arguable and aspects are implicit in the existing claim.

Citation
[2013] EWHC 4282 (QB)
Parties
Claimant/respondent: Braintree Leisure Limited; Defendant/appellant: Nationwide Building Society
Jurisdiction
England and Wales
Judgment Date
08 November 2013
Procedural Posture
Commercial Court Application / Pre Trial Interlocutory Application
Outcome
Application granted
Legal Topics
Expert Evidence, Interest Rate Swaps, Pleading Amendments
Banking and Finance Civil Procedure Expert Evidence Interest Rate Swaps Pleading Amendments

Case Brief

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Parties

Braintree Leisure Limited

Claimant/respondent

Nationwide Building Society

Defendant/appellant

Procedural Posture

Commercial Court Application / Pre Trial Interlocutory Application

Legal Issues

  1. 1 Whether the claimant should be permitted to adduce expert evidence on the nature of the interest fixing arrangement
  2. 2 Whether the claimant should be permitted to amend its pleadings

Ratio Decidendi

Permission to adduce expert evidence is granted because the nature of the arrangement as a swap is a pleaded issue and the claimant should have the opportunity to present expert evidence, especially given the defendant's evidence on the same point. Permission to amend the pleadings is also granted as the amendment is arguable and aspects are implicit in the existing claim.

Court Disposition

Application granted

Orders

  • Permission granted to adduce expert evidence from a derivatives expert
  • Permission granted to amend the pleadings