Rawlinson & Hunter Trustees SA v ITG Ltd

Rawlinson & Hunter Trustees SA v ITG Ltd

The subject matter of the Deed of Novation is limited to the substitution of the Transferee for the Transferor and does not extend to all claims under the Loan Agreement; therefore, the exclusive jurisdiction clause in the Loan Agreement remains effective and claims under it are subject to English jurisdiction.

Parties
Claimant/respondent: Rawlinson & Hunter Trustees SA; Defendant/appellant: ITG Limited
Jurisdiction
England and Wales
Judgment Date
21 October 2014
Procedural Posture
Appeal / Judgment
Outcome
Appeal allowed
Legal Topics
Jurisdiction Clauses, Novation, Material Non Disclosure, Trustee Substitution
Contract Law Trust Law Civil Procedure Jurisdiction Clauses Novation Material Non Disclosure Trustee Substitution

Case Brief

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Parties

Rawlinson & Hunter Trustees SA

Claimant/respondent

ITG Limited

Defendant/appellant

Procedural Posture

Appeal / Judgment

Legal Issues

  1. 1 Whether clause 5.2 of the Deed of Novation displaces the exclusive jurisdiction clause in the Loan Agreement
  2. 2 Whether material non-disclosure warrants setting aside permission to serve out

Ratio Decidendi

The subject matter of the Deed of Novation is limited to the substitution of the Transferee for the Transferor and does not extend to all claims under the Loan Agreement; therefore, the exclusive jurisdiction clause in the Loan Agreement remains effective and claims under it are subject to English jurisdiction.

Court Disposition

Appeal allowed

Orders

  • Permission to serve out is not set aside
  • Master's order for costs remains undisturbed