FBME Bank Ltd v Elwes & Anor [2012] EWHC 2209 (QB) (25 July 2012)

FBME Bank Ltd v Elwes & Anor [2012] EWHC 2209 (QB) (25 July 2012)

Mr. Aspin is liable to pay the first instalment of £10,000 under the guarantee, as the guarantee and addendum were valid and enforceable, and no breach by FBME of the facility agreement or lack of FBME's signature discharged or excused his liability. The guarantee's terms were clear, and the parties were bound by them.

Citation
[2012] EWHC 2209 (QB)
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 / Trial Judgment
Outcome
judgment for claimant in part
Legal Topics
Guarantee Enforcement, Facility Agreements, Personal Guarantees, Contractual Interpretation
Banking Law Contract Law Guarantee Enforcement Facility Agreements Personal Guarantees Contractual Interpretation

Case Brief

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Parties

FBME Bank Limited

Claimant

Jonathan Elwes

First Defendant

Kevin Aspin

Second Defendant

Procedural Posture

Civil / Trial Judgment

Legal Issues

  1. 1 Whether the guarantee signed by Mr. Aspin is enforceable for the sum of £10,000 following demand by FBME.
  2. 2 Whether FBME's refusal to permit a drawdown of £72,000 under the facility agreement affects Mr. Aspin's liability under the guarantee.
  3. 3 Whether the guarantee is unenforceable due to lack of signature by FBME or because it differed from Mr. Aspin's expectations.

Ratio Decidendi

Mr. Aspin is liable to pay the first instalment of £10,000 under the guarantee, as the guarantee and addendum were valid and enforceable, and no breach by FBME of the facility agreement or lack of FBME's signature discharged or excused his liability. The guarantee's terms were clear, and the parties were bound by them.

Court Disposition

judgment for claimant in part

Orders

  • Mr. Aspin to pay FBME Bank Limited the sum of £10,000.