Back to all cases

Sumitomo Bank, Sanwa Bank, Arab Bank -v- Banque Bruxelles Lambert

2nd Oct 1996

[1997] 1 Lloyd’s Rep. 487

Gavin Kealey QC led David Edwards for syndicate of Banks in trial against Agent Bank: Duties of care owed by agent bank to syndicate of banks, misrepresentation and duties in the context of commercial property lending and mortgage indemnity insurance policies, the syndication of credit risks, the construction of Loan Agreements.

Insurance (MIG) – Non-disclosure – Duty of care – Defendants arranged loan facility with plaintiff banks – Loans underwritten by insurance company – Borrowers defaulted on loans – Insurers avoided policies for non-disclosure – Whether defendants under duty to plaintiffs to exercise proper and reasonable care to discharge disclosure obligations – Whether plaintiffs relied on representations made by defendants