Braintree Leisure Ltd v Nationwide Building Society [2013] EWHC 4282 (QB) (08 November 2013)
Permission is granted to adduce expert evidence and to amend pleadings because the issues are pleaded and expert evidence may assist in resolving factual disputes regarding the nature of the arrangement, despite judicial reluctance and potential cost consequences.
- Citation
- [2013] EWHC 4282
- Parties
- Claimant/respondent: Braintree Leisure Limited; Defendant/appellant: Nationwide Building Society
- Jurisdiction
- England and Wales
- Judgment Date
- 08 November 2013
- Procedural Posture
- Commercial Application / Pre Trial Interlocutory Application
- Outcome
- Application granted
- Legal Topics
- Expert Evidence, Interest Rate Swaps, Contractual Interpretation, FSA Compliance
Case Brief
Summary, issues, holding and outcome
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Parties
Braintree Leisure Limited
Claimant/respondent
Nationwide Building Society
Defendant/appellant
Procedural Posture
Commercial Application / Pre Trial Interlocutory Application
Legal Issues
- 1 Whether the interest fixing arrangement under the loan agreement constituted a swap requiring FSA compliance
- 2 Whether expert evidence should be admitted to address the nature of the arrangement
- 3 Whether the claimant should be permitted to amend pleadings
Ratio Decidendi
Permission is granted to adduce expert evidence and to amend pleadings because the issues are pleaded and expert evidence may assist in resolving factual disputes regarding the nature of the arrangement, despite judicial reluctance and potential cost consequences.
Court Disposition
Application granted
Orders
- Permission to adduce expert evidence granted
- Permission to amend pleadings granted
Full Case Text
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