The Weekly Law Reports
[2012] 2 WLR 564
Chancery Division
Carey Group plc and others v AIB Group (UK) plc and another
[2011] EWHC 567 (Ch)
2011 March 8;
11
Briggs J
Conflict of laws— Jurisdiction— Public law of foreign state— Enforcement— Foreign statutory agency— Scheme under foreign statute for acquisition by agency of bank assets from participating institutions— Bank willing voluntarily to comply with acquisition process— Claimants seeking injunctions restraining agency from enforcing acquisition process within jurisdiction and bank from complying with it— Whether implementation of acquisition process unlawful exercise of sovereign power
Contract— Implied term— Duty to exercise discretion personally— Bank granting claimants secured lending facilities under facility agreement— Whether implied term that bank exercise discretions under agreement personally