High Court upholds financial institution restructuring unit’s exercise of its powers under facility agreement following borrower default, finding there was no “relational contract” and rejecting claims for intimidation and economic duress

The High Court has dismissed the most recent claim to reach trial arising from the actions taken by a lending bank’s restructuring unit following a borrower’s default under a facility agreement during the global financial crisis. The court rejected all claims that the bank failed to discharge its duty to provide lending services with reasonable … Read more