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Contact

Our clerks’ room is open between:

8.30am – 6.30pm

Outside of these hours and in cases of urgency, please contact
Paul Bunting on 07971 843023 or
Darren Madle on 07769 714399.

Clerk contacts

Richard Sheehan

Deputy Senior Clerk

020 7420 9503
Oliver Ventura

First Junior Clerk

020 7420 9505
Aron Hanks

Second Junior Clerk

020 7420 9506
Archie Conners

Third Junior Clerk

020 7420 9507

Our clerks’ room is open between:

8.30am – 6.30pm

Outside of these hours and in cases of urgency, please contact
Paul Bunting on 07971 843023 or
Darren Madle on 07769 714399.

Clerk contacts

Richard Sheehan

Deputy Senior Clerk

020 7420 9503
Oliver Ventura

First Junior Clerk

020 7420 9505
Aron Hanks

Second Junior Clerk

020 7420 9506
Archie Conners

Third Junior Clerk

020 7420 9507

Interest Rate Swaps: Barnett Waddington Trustees (1980) Ltd v The Royal Bank of Scotland Plc [2015] EWHC 2435 (Ch)

Warren J has handed down his judgment in Barnett Waddington Trustees (1980) Ltd v The Royal Bank of Scotland Plc [2015] EWHC 2435 (Ch). This is an important case concerning the liability of a borrower to indemnify a lender against certain ‘losses’ said to have been suffered by the lender as a result of an internal hedging arrangement.  In this case, the borrower wished to redeem a loan. However, the lender insisted that, as a condition of such redemption, the borrower had to pay an ‘interest rate swap termination cost’ of c.£2.4m. At trial, Warren J determined that no such sum was payable.

Mark Warwick QC, leading Justina Stewart, appeared for the successful borrower.