Deutsche Bank AG v Comune Di Savona

Deutsche Bank AG v Comune Di Savona

The declarations challenged relate to the swap contracts governed by the ISDA Master Agreement, which contain an English jurisdiction clause and an entire agreement clause confirming their self-contained nature. The Convention governs the generic advisory relationship, while the swap contracts govern the specific transactional relationship. Disputes relating to the swaps fall within the English jurisdiction clause under Article 25 of Regulation (EU) No. 1215/2012. The Court of Appeal holds that the English court has jurisdiction to determine declarations (7)-(10) and (12).

Parties
Claimant/appellant: Deutsche Bank AG; Defendant/respondent: Comune di Savona
Jurisdiction
England and Wales
Judgment Date
27 July 2018
Procedural Posture
Civil Appeal / Court of Appeal Judgment
Outcome
Appeal allowed; English court has jurisdiction over declarations (7)-(10) and (12).
Legal Topics
Jurisdiction Clauses, Interpretation of Contracts, EU Regulation 1215/2012, Declaratory Relief
Civil Procedure Contract Law International Commercial Law Jurisdiction Clauses Interpretation of Contracts EU Regulation 1215/2012 Declaratory Relief

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Parties

Deutsche Bank AG

Claimant/appellant

Comune di Savona

Defendant/respondent

Procedural Posture

Civil Appeal / Court of Appeal Judgment

Legal Issues

  1. 1 Whether the English court has jurisdiction to determine declarations (7)-(10) and (12) under competing jurisdiction clauses in contracts between the parties
  2. 2 Interpretation and scope of jurisdiction clauses in the Convention and ISDA Master Agreement
  3. 3 Application of Article 25 of Regulation (EU) No. 1215/2012

Ratio Decidendi

The declarations challenged relate to the swap contracts governed by the ISDA Master Agreement, which contain an English jurisdiction clause and an entire agreement clause confirming their self-contained nature. The Convention governs the generic advisory relationship, while the swap contracts govern the specific transactional relationship. Disputes relating to the swaps fall within the English jurisdiction clause under Article 25 of Regulation (EU) No. 1215/2012. The Court of Appeal holds that the English court has jurisdiction to determine declarations (7)-(10) and (12).

Court Disposition

Appeal allowed; English court has jurisdiction over declarations (7)-(10) and (12).

Orders

  • Paragraphs 2, 4, 6 and 7 of the Order of HHJ Waksman QC of 18 May 2017 set aside.
  • Respondent’s application challenging jurisdiction dismissed.