Torre Asset Funding Ltd and another v Royal Bank of Scotland plc – WLR Daily

Posted September 10th, 2013 in agency, banking, contracts, disclosure, law reports, news by tracey

Torre Asset Funding Ltd and another v Royal Bank of Scotland plc: [2013] EWHC 2670 (Ch);   [2013] WLR (D)  343

“A term was not to be implied into a mezzanine lending agreement that a bank, which had acted as agent for two special purpose vehicles (‘SPVs’) when they participated as junior lenders in such structured lending to a property company which subsequently collapsed, was obliged to disclose to the SPVs material financial information in its possession as to the declining health of the company.”

WLR Daily, 3rd September 2013

Source: www.iclr.co.uk