The Business Law Reports
[2015] Bus LR 278
Supreme Court
Tael One Partners Ltd
v
Morgan Stanley & Co International plc
[2015] UKSC 12
2014 Nov 17;
2015 March 11
Lord Neuberger of Abbotsbury PSC, Lord Kerr of Tonaghmore, Lord Reed, Lord Toulson, Lord Hodge JJSC
Contract— Construction— Secondary loan agreement— Facility agreement providing for payment premium to be paid by borrower on repayment of loan— Claimant lender transferring participation in loan to defendant— Whether payment premium “expressed to accrue by reference to lapse of time”— Whether claimant having entitlement to payment premium attributable to period prior to transfer—
Loan Market Association standard terms and conditions for par trade transactions, condition 11(9)