Bank of India v Cati Mandencilik Ithalat VE Ihracat AS & Anor [2018] EWHC 3860 (Comm) (13 April 2018)

There is no real prospect of a defence to the claim for repayment of the loan and enforcement of the guarantee, and no compelling reason for a trial; summary judgment is granted.

Citation: [2018] EWHC 3860 (Comm)
Parties: Claimant: Bank of India; First Defendant: Cati Mandencilik Ithalat ve Ihracat AS; Second Defendant: Facor Alloys Limited
Jurisdiction: England and Wales
Judgment Date: 13 April 2018
Procedural Posture: Commercial Claim for Debt Recovery and Guarantee Enforcement / Summary Judgment Application
Outcome: Summary judgment granted in favour of claimant
Legal Topics: Loan Facility Agreement, Guarantee Enforcement, Jurisdiction, Summary Judgment

Commercial Law Banking Law Loan Facility Agreement Guarantee Enforcement Jurisdiction Summary Judgment

Case Brief

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Parties

Bank of India

Claimant

Cati Mandencilik Ithalat ve Ihracat AS

First Defendant

Facor Alloys Limited

Second Defendant

Procedural Posture

Commercial Claim for Debt Recovery and Guarantee Enforcement / Summary Judgment Application

Legal Issues

1 Whether the claimant is entitled to summary judgment for recovery of loan and enforcement of guarantee
2 Whether service was properly effected on both defendants
3 Whether there is any real prospect of a defence

Ratio Decidendi

There is no real prospect of a defence to the claim for repayment of the loan and enforcement of the guarantee, and no compelling reason for a trial; summary judgment is granted.

Court Disposition

Summary judgment granted in favour of claimant

Orders

Judgment for claimant in the sum of $1,491,763.96
Defendants to pay costs