Judge refuses to strike out good faith term in banking contract
Asplin J sitting as a Judge in the Financial List today handed down judgment in Hockin Ors v RBS Plc or  EWHC 925 (Ch). The Judge held that it was arguable that a power or discretion of assignment in the hands of the bank within a £55million loan facility agreement was attended by an implied duty of good faith as to the manner in which it was exercised. The Judge also considered the proper construction of a Deed of Assignment by which the administrators assigned certain causes of action to the claimants. The matter is due to go to trial in January 2017.
Farhaz Khan (who was brought in to act on the applications) led by David Reade QC acted for the Claimants (instructed by Berg). Mark Hapgood QC, Laura John and Adam Sher acted for the bank (instructed by Dentons).
The Judgment can be found here.
Barristers: Farhaz Khan