Nationwide Building Society v The Bank of New York Mellon, London Branch & Anor
A&O's claim that BNY owed a contractual and/or tortious duty to confirm listing of the notes, based on the S&CAs, has real prospects of success and should proceed to trial. The S&CAs may evidence an intention to create legal relations, and the context does not preclude the existence of such duties. The Indenture and Supplemental Indentures do not, as a matter of law, exclude the possibility of contractual or tortious duties arising from the S&CAs. Summary judgment is therefore refused on A&O's contribution claim.
Source excerpt
- Intention to create legal relations
- Assumption of responsibility
- Summary judgment
- Contribution claims
- Withholding tax liability
- Interpretation of transaction documents