24 Oct 2008
GDH LTD v. CREDITOR CO LTD AND OTHERS
- Citation
- GDH LTD v. CREDITOR CO LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA1462/2006
The court held the counterclaims against the French Banks were wholly unarguable: on true construction clause 10.1(c) and Schedule 14 allowed creditors the choice whether to submit a proof of claim and provided for transfer of unsubmitted Restructuring Consideration to GDH; CreditorCo could not validly imply duties of good faith or reasonable endeavours that contradicted express terms; the conspiracy claim collapsed with the contractual claim; accordingly the ex parte leave to serve out was set aside and service out of jurisdiction was vacated.