Lloyd's Law Reports Plus

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

THE ARGO FUND LTD v ESSAR STEEL LTD

[2006] Lloyd's Rep Plus 64

COURT OF APPEAL

Before Lord Justice Auld Lord Justice Rix and Lady Justice Hallett

Banking – Banks entering into syndicated loan facility agreement with borrower – Investment company purchasing debt on secondary debt market – Purchaser alleging borrower in breach of facility agreement by failing to repay debt on date due – Whether purchaser entitled to claim under facility agreement as transferee or assignee of debt.

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