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.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

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): 1,098.00
No. of lawyers: 2,313 (UK 200)
Jurisdiction: UK
No. of offices: 9
No. of qualified lawyers: 206 (International 50)

Jobs