JP Morgan Chase Bank NA v The Federal Republic of Nigeria

JP Morgan Chase Bank NA v The Federal Republic of Nigeria

The Quincecare duty of care is not excluded or negated by the express terms of the depository agreement between the parties. None of the clauses relied on by Morgan Chase (entire agreement, exclusion, indemnity, or clauses inconsistent with the duty) are sufficiently clear or unequivocal to exclude the duty. The claim raises triable issues and should proceed to trial.

Parties
Appellant/defendant: JP Morgan Chase Bank, N.A.; Respondent/claimant: The Federal Republic of Nigeria
Jurisdiction
England and Wales
Judgment Date
08 October 2019
Procedural Posture
Civil Appeal / Appeal From Summary Judgment Refusal
Outcome
appeal dismissed; summary judgment application refused
Legal Topics
Quincecare Duty, Bank's Duty of Care, Contractual Interpretation, Exclusion Clauses, Indemnity Clauses, Summary Judgment
Banking Law Contract Law Tort Law Quincecare Duty Bank's Duty of Care Contractual Interpretation Exclusion Clauses Indemnity Clauses +1 more

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Parties

JP Morgan Chase Bank, N.A.

Appellant/defendant

The Federal Republic of Nigeria

Respondent/claimant

Procedural Posture

Civil Appeal / Appeal From Summary Judgment Refusal

Legal Issues

  1. 1 Whether the Quincecare duty of care arises in the context of the depository agreement between the parties
  2. 2 Whether the terms of the depository agreement exclude or negate the Quincecare duty
  3. 3 Whether exclusion and indemnity clauses in the agreement bar the claim

Ratio Decidendi

The Quincecare duty of care is not excluded or negated by the express terms of the depository agreement between the parties. None of the clauses relied on by Morgan Chase (entire agreement, exclusion, indemnity, or clauses inconsistent with the duty) are sufficiently clear or unequivocal to exclude the duty. The claim raises triable issues and should proceed to trial.

Court Disposition

appeal dismissed; summary judgment application refused

Orders

  • The claim is not struck out and may proceed to trial.