Deutsche Bank AG & Ors v Unitech Global Ltd & Ors

The court has no power under CPR Part 24, Part 3, or Part 25 to order the defendants to pay US$120m into court or as an interim payment in these circumstances, as the requirements for such orders are not met. The application for payment in or interim payment is dismissed.

Parties: Claimant: Deutsche Bank AG and others; Defendant: Unitech Global Limited; Defendant: Unitech Limited
Jurisdiction: England and Wales
Judgment Date: 03 October 2014
Procedural Posture: Commercial / Interlocutory Application Following Court of Appeal Decision
Outcome: Application for payment into court or interim payment dismissed; costs orders varied.
Legal Topics: Rescission, Summary Judgment, Interim Payment, Issue Estoppel, Case Management, Costs

Commercial Law Civil Procedure Rescission Summary Judgment Interim Payment Issue Estoppel Case Management Costs

Case Brief

Summary, issues, holding and outcome

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Full judgment text Downloadable case file Legal principles 4 Authorities cited 8 Party arguments 2 Amounts and remedies 7

Parties

Deutsche Bank AG and others

Claimant

Unitech Global Limited

Defendant

Unitech Limited

Defendant

Procedural Posture

Commercial / Interlocutory Application Following Court of Appeal Decision

Legal Issues

1 Whether the court should order the defendants to pay a sum into court or make an interim payment to the claimants pending trial, in light of the Court of Appeal's decision allowing a rescission defence
2 Whether CPR Part 24, Part 3, or Part 25 empower the court to order such payment in these circumstances

Ratio Decidendi

Court Disposition

Application for payment into court or interim payment dismissed; costs orders varied.

Orders

Order for summary judgment in the sum of US$177,287,980.83 set aside.
Bank awarded 70% of costs of the amendment application.