Braintree Leisure Ltd v Nationwide Building Society

Braintree Leisure Ltd v Nationwide Building Society

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 its case fully, despite the court's reluctance and potential cost consequences. Permission to amend the pleadings is also granted as the amendments are arguable and largely implicit in the existing pleadings.

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, Pleadings Amendment
Banking Law Contract Law Civil Procedure Expert Evidence Interest Rate Swaps Pleadings Amendment

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 regarding 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 its case fully, despite the court's reluctance and potential cost consequences. Permission to amend the pleadings is also granted as the amendments are arguable and largely implicit in the existing pleadings.

Court Disposition

Application granted

Orders

  • Permission granted to adduce expert evidence
  • Permission granted to amend pleadings