Al Mashariq for Trading and Contracting Co v HSBC Bank Plc

Al Mashariq for Trading and Contracting Co v HSBC Bank Plc

Strike out application fails as the Defendant's Amended Defence is coherent and entitled to put the Claimant to proof on reliance and causation. Summary judgment on estoppel by representation fails as no relevant cause of action is pleaded in the Claim Form. Summary judgment on negligent misstatement is granted only as to duty and breach, which are admitted; all other issues including reliance, causation, and loss require trial.

Parties
Claimant: Al Mashariq for Trading and Contracting Co; Defendant: HSBC Bank Plc
Jurisdiction
England and Wales
Judgment Date
03 May 2025
Procedural Posture
Commercial Court Claim / Ruling on Strike Out and Summary Judgment Applications
Outcome
Strike out and summary judgment applications dismissed except for declarations on duty and breach.
Legal Topics
Negligent Misstatement, Estoppel by Representation, Summary Judgment, Strike Out, Duty of Care
Tort Contract Negligent Misstatement Estoppel by Representation Summary Judgment Strike Out Duty of Care

Case Brief

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Parties

Al Mashariq for Trading and Contracting Co

Claimant

HSBC Bank Plc

Defendant

Procedural Posture

Commercial Court Claim / Ruling on Strike Out and Summary Judgment Applications

Legal Issues

  1. 1 Whether the Defendant's Amended Defence should be struck out for disclosing no reasonable grounds for resisting the Claimant's case
  2. 2 Whether summary judgment should be granted for US$5,750,000 (or Sterling equivalent) on grounds of estoppel by representation
  3. 3 Whether summary judgment should be granted on the basis of liability for negligent misstatement with damages to be assessed

Ratio Decidendi

Strike out application fails as the Defendant's Amended Defence is coherent and entitled to put the Claimant to proof on reliance and causation. Summary judgment on estoppel by representation fails as no relevant cause of action is pleaded in the Claim Form. Summary judgment on negligent misstatement is granted only as to duty and breach, which are admitted; all other issues including reliance, causation, and loss require trial.

Court Disposition

Strike out and summary judgment applications dismissed except for declarations on duty and breach.

Orders

  • Declaration that Defendant owed a duty of care to the Claimant in respect of the statements pleaded and breached that duty.
  • All other issues including reliance, causation, and loss to be determined at trial.