FBME Bank Ltd v Elwes & Anor

FBME Bank Ltd v Elwes & Anor

Mr. Aspin is liable to pay £10,000 to FBME as the first instalment under the guarantee, due twelve months after demand, and FBME was entitled to refuse the drawdown under the Second Facility Agreement; breach by FBME did not discharge Aspin's liability under the guarantee.

Parties
Claimant: FBME Bank Limited; First Defendant: Jonathan Elwes; Second Defendant: Kevin Aspin
Jurisdiction
England and Wales
Judgment Date
25 July 2012
Procedural Posture
Civil / Judgment After Trial
Outcome
judgment for claimant against second defendant for £10,000
Legal Topics
Enforcement of Guarantee, Facility Agreement, Breach of Contract, Repudiation, Counterclaim
Contract Banking Guarantee Enforcement of Guarantee Facility Agreement Breach of Contract Repudiation Counterclaim

Case Brief

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Parties

FBME Bank Limited

Claimant

Jonathan Elwes

First Defendant

Kevin Aspin

Second Defendant

Procedural Posture

Civil / Judgment After Trial

Legal Issues

  1. 1 Whether FBME was entitled to refuse drawdown under the Second Facility Agreement
  2. 2 Whether Mr. Aspin is liable under his personal guarantee
  3. 3 Effect of Addendum on timing of instalments

Ratio Decidendi

Mr. Aspin is liable to pay £10,000 to FBME as the first instalment under the guarantee, due twelve months after demand, and FBME was entitled to refuse the drawdown under the Second Facility Agreement; breach by FBME did not discharge Aspin's liability under the guarantee.

Court Disposition

judgment for claimant against second defendant for £10,000

Orders

  • Second defendant to pay claimant £10,000