Mirador International LLC v MF Global UK Ltd [2012] EWCA Civ 1662 (13 December 2012)

The Agreement does not entitle Mirador to commission for introductions made before it became effective; clause 8c is not ambiguous and only covers introductions made during Mirador's appointment as introducing broker.

Citation: [2012] EWCA Civ 1662
Parties: Claimant/respondent: Mirador International LLC; Defendant/appellant: MF Global UK Limited
Jurisdiction: England and Wales
Judgment Date: 13 December 2012
Procedural Posture: Appeal From High Court (commercial Court) / Court of Appeal Judgment
Outcome: Appeal allowed (Moore-Bick LJ), Appeal dismissed (Lewison LJ, Rix LJ)
Legal Topics: Interpretation of Contracts, Brokerage Agreements, Commission Entitlement, Termination Consequences

Contract Law Commercial Law Interpretation of Contracts Brokerage Agreements Commission Entitlement Termination Consequences

Case Brief

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Parties

Mirador International LLC

Claimant/respondent

MF Global UK Limited

Defendant/appellant

Procedural Posture

Appeal From High Court (commercial Court) / Court of Appeal Judgment

Legal Issues

1 Whether Mirador is entitled to commission for introductions made before the Introducing Broker Agreement became effective
2 Proper construction of clause 8c of the Introducing Broker Agreement

Ratio Decidendi

Court Disposition

Appeal allowed (Moore-Bick LJ), Appeal dismissed (Lewison LJ, Rix LJ)

Orders

No entitlement for Mirador to commission for Dante Lido's trading prior to Agreement's effectiveness
No order for payment to Mirador for pre-Agreement introductions