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England and Wales Case Law

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Insolvency [2025] EWHC 2631 (Ch)

Credit Suisse Virtuoso Sicav-Sif & Anor v Softbank Group Corp & Ors

Credit Suisse Virtuoso Sicav-Sif & Anor v Softbank Group Corp & Ors [2025] EWHC 2631 (Ch) (15 October 2025)

High Court section 423 claim over the Greensill/Katerra financing structure and the $440 million Fairymead Notes, involving SoftBank entities and Greensill Limited.

  • Section 423 insolvency act 1986
  • Transactions at undervalue
  • Supply chain finance
  • Securitisation
  • Trusteeship
  • Corporate restructuring
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Civil procedure

Lloyds Bank PLC v Michael Thomas Cook

County Court appeal in a mortgage possession claim allowed the defence to stand, holding the summary strike-out was premature given unresolved issues over equitable assignment and enforcement.

  • Mortgage possession
  • Securitisation
  • Equitable assignment
  • Summary judgment
  • Strike out applications
  • Mortgage-possession
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Property law [2025] EWCC 43

Lloyds Bank PLC v Cook

Lloyds Bank PLC v Cook [2025] EWCC 43 (24 July 2025)

Appeal against strike-out of a defence to a possession claim was allowed because the defence raised a real prospect of success on assignment and entitlement issues.

  • Mortgage possession
  • Securitisation
  • Equitable assignment
  • Summary judgment
  • Regulated mortgage contracts
  • Mortgage-possession
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Contract law

NatWest Market NV & Anor v CMIS Nederland BV & Anor

The Deeds are contracts of indemnity imposing primary obligations on CMIS. The Relevant Amounts are 'due' under the EMAC Master Agreements and payable by CMIS under the Deeds. CMIS is not entitled to rely on Payment Deferral or Limited Recourse Provisions as a defence under clause 2.1(iv).

  • Indemnity vs guarantee
  • Interpretation of isda master agreements
  • Securitisation
  • Payment deferral provisions
  • Limited recourse provisions
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Commercial law [2025] EWHC 37 (Comm)

NatWest Market NV & Anor v CMIS Nederland BV & Anor

NatWest Market NV & Anor v CMIS Nederland BV & Anor [2025] EWHC 37 (Comm) (15 January 2025)

The High Court held that CMIS’s deeds were indemnities, not guarantees, so CMIS had to pay NatWest the claimed swap-related sums and could not rely on deferral provisions.

  • Indemnity vs guarantee
  • Securitisation
  • Interpretation of contracts
  • Primary vs secondary liability
  • Payment deferral provisions
  • Indemnity-vs-guarantee
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Commercial law [2024] EWHC 2542 (Comm)

BNP Paribas Trust Corporation UK Ltd v Uro Property Holdings SA

BNP Paribas Trust Corporation UK Ltd v Uro Property Holdings SA [2024] EWHC 2542 (Comm) (24 September 2024)

The Commercial Court allowed only a construction amendment and refused estoppel and breach of contract amendments as late, prejudicial, and weak.

  • Amendment of pleadings
  • Estoppel
  • Breach of contract
  • Limitation periods
  • Securitisation
  • Bond market practice
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Contract law [2024] EWCA Civ 886

Banca Generali SPA v Sovereign Credit Opportunities SA & Anor

Banca Generali SPA v Sovereign Credit Opportunities SA & Anor [2024] EWCA Civ 886 (31 July 2024)

The Court of Appeal held that, after a Trigger Notice, senior noteholders could direct the issuer to remove and replace the fiscal agent under the transaction documents.

  • Interpretation of contractual provisions
  • Removal and replacement of agents
  • Noteholder powers post-default
  • Contract-interpretation
  • Securitisation
  • Agent-removal
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Contract law

Banca Generali SpA v Sovereign Credit Opportunities SA & Anor

The Court of Appeal held that, after default and a Trigger Notice, senior noteholders could direct the issuer to remove and replace the fiscal agent under the transaction documents.

  • Interpretation of contractual provisions
  • Removal and replacement of agents
  • Securitisation schemes
  • Noteholder rights after default
  • Contract-interpretation
  • Securitisation
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Contract law [2023] EWHC 1732 (Ch)

Banca Generali SpA v Sovereign Credit Opportunities SA & Anor

Banca Generali SpA v Sovereign Credit Opportunities SA & Anor [2023] EWHC 1732 (Ch) (11 July 2023)

The High Court construed securitisation documents and held that senior noteholders could direct removal of the Fiscal Agent, but not the Calculation Agent, after trigger notices.

  • Interpretation of contractual provisions
  • Removal and replacement of agents
  • Management and administration of receivables
  • Contract-interpretation
  • Securitisation
  • Agent-removal
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England and Wales decisions are organised by court, judge, legal area and indexed issue so a practitioner can move from a proposition to a citable authority with the surrounding context intact.