BANQUE SAUDI FRANSI v LEAR SIEGLER SERVICES INC
[2006] Lloyd's Rep Plus 8
QUEEN’S BENCH DIVISION COMMERCIAL COURT
Before His Honour Judge Mackie QC
Guarantee – Subsidiary of defendant arranged with bank for
issue of performance bond – Defendant guaranteed subssidiary’s
liability to bank in event of payment – Claim under the bond paid by bank –
Defendant refused to honour guarantee – Whether claim under performance bond
fraudulent.