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Judgment of Norris J in Innovatis Investment Fund Ltd v Ejder Group Ltd

Romie Tager QC and Stuart Hornett have successfully obtained judgment for over US$4m in an action concerning a Lehman Brothers Medium Term Basket Note with a face value of US$7m. It is believed that this is the first reported decision ([2010] EWHC 1851) in which the High Court has considered the legal nature of a securities repurchaser agreement. The case also concerned issues of an agent’s liability under a contract in the context of securities trading.

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