One-sided jurisdiction clause is effective
By Brian Cain
The High Court has held that a typical hybrid jurisdiction clause found in many finance documents, which confers exclusive jurisdiction on English courts to settle disputes but which states that this is for the benefit of the lenders who may take proceedings in any other jurisdiction, is valid.
MCB had entered into a revised facility agreement containing a guarantee with a Mauritian borrower and an Indian guarantor. The facility agreement contained a clause stating it was governed by English law. It replaced earlier agreements that had been governed by Mauritian law — which generally follows French law…
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