Barclays Bank v Metcalfe &Mansfield (Devonshire Trust)
Counsel to Devonshire Trust in a case arising out of the disruption of the Canadian Asset Backed Commercial Paper market in August 2007. Devonshire Trust was successful after a lengthy trial. The Court of Appeal affirmed the trial judge's decision and found that Barclays' notice terminating the swap transaction was invalid because of Barclays' misrepresentation and bad faith.
Read Lexpert's Significant Matters summary.