Bank of India v Cati Mandencilik Ithalat VE Ihracat AS & Anor

Bank of India v Cati Mandencilik Ithalat VE Ihracat AS & Anor

There is no real prospect of a defence to the claim for the outstanding loan and interest under the facility agreement and guarantee, and no other compelling reason for a trial; summary judgment is therefore granted for the sum claimed and costs.

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 (summary Judgment Application) / Judgment on Summary Judgment Application
Outcome
Summary judgment granted for the claimant
Legal Topics
Loan Facility Agreement, Guarantee, Summary Judgment, Jurisdiction, Service Out of Jurisdiction
Banking and Finance Contract Law Loan Facility Agreement Guarantee Summary Judgment Jurisdiction Service Out of Jurisdiction

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 (summary Judgment Application) / Judgment on Summary Judgment Application

Legal Issues

  1. 1 Whether the claimant is entitled to summary judgment for the outstanding loan and interest under the facility agreement and guarantee
  2. 2 Whether service was properly effected on both defendants
  3. 3 Whether there is any real prospect of a defence

Ratio Decidendi

There is no real prospect of a defence to the claim for the outstanding loan and interest under the facility agreement and guarantee, and no other compelling reason for a trial; summary judgment is therefore granted for the sum claimed and costs.

Court Disposition

Summary judgment granted for the claimant

Orders

  • Judgment for the claimant in the sum of 1,491,763.96 USD
  • Costs awarded to the claimant