Court confirms it is reasonable for banks to look out for themselves

The English Court of Appeal has confirmed a High Court decision that a bank does not need to take into account the interests of a contractual counterparty when exercising its discretion on a ‘commercially reasonable’ basis. The use of such a term did require the bank to act in an objectively reasonable manner, but it was fully entitled to put its own interests ahead of those of the counterparty.

In Barclays v Unicredit, Barclays’ refusal to give consent to an early termination of loan securitisation unless it received five years’ fees was upheld to be ‘commercially reasonable’…

Click on the link below to read the rest of the Hogan Lovells briefing.

Briefings from Hogan Lovells

View more briefings from Hogan Lovells

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

Atlantic House
Holborn Viaduct
London
EC1A 2FG
UK
http://www.hoganlovells.com

Turnover (£m): 1,030.00
No. of lawyers: 2,280
(UK 200)
Jurisdiction: UK
No. of offices: 9
No. of qualified lawyers: 206 (International 50)

Jobs