BANQUE SAUDI FRANSI v LEAR SIEGLER SERVICES INC
[2006] 1 Lloyd's Rep. 273
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 subsidiary’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.