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When is a primary obligor actually a guarantor? (Court of Appeal)
Practical Law UK Legal Update Case Report 9-523-1307 (Approx. 3 pages)
When is a primary obligor actually a guarantor? (Court of Appeal)
by PLC Finance
In Wuhan Guoyu Logistics Group Co Ltd and another v Emporiki Bank of Greece SA [2012] EWCA Civ 1629 (7 December 2012) the Court of Appeal decided that a payment guarantee was a performance bond on the basis of its commercial context.
NOTE: The Supreme Court refused permission to appeal this decision on 24 April 2013.
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Resource ID 9-523-1307© 2024 Thomson Reuters. All rights reserved.
Published on 13-Dec-2012
Resource Type Legal update: case report
Jurisdictions
Related Content- England
- Wales