Greenclose Ltd v National Westminster Bank plc – WLR Daily

Greenclose Ltd v National Westminster Bank plc: [2014] EWHC 1156 (Ch);   [2014] WLR (D)  173

‘The terms of section 12(a) of the International Swaps and Derivatives Association (“ISDA”) Master Agreement (Multi Currency-Cross Border Form) (1992 ed) were mandatory and any notice purportedly served pursuant to those provisions had to have been given by the means therein prescribed, and by reference to and in accordance with the contact information provided in part 4 of the schedule to the agreement, subject to any amendment properly notified pursuant to section 12(b). If the schedule did not provide certain information necessary for service by a prescribed method, the contract was to be construed as limiting the prescribed methods to those expressly permitted by the schedule unless and until the missing information was notified under section 12(b) or the contract was formally amended.’

WLR Daily, 14th April 2014