We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. Close

CHAPTER 5 The change in English law introduced by Miliangos and its forebears

Foreign Currency: Claims, Judgments and Damages

Page 42 CHAPTER 5 The change in English law introduced by Miliangos and its forebears The impact of Miliangos Miliangos and the doctrine of precedent 5.1 One of the most abrupt reversals of the common law occurred when the House of Lords held in 1976 in Miliangos v George Frank (Textiles) Ltd 1 that claims for debts incurred in a foreign currency could be made in a foreign currency rather than in sterling. Previously, it had always been accepted as inevitable that foreign currency debts had to be converted into sterling because sterling was the currency of the forum. Miliangos was decided less than 15 years after the House had decided In re United Railways of Havana and Regla Warehouses Ltd , 2 which appeared to have set up a rampart protecting sterling judgments.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, please enter your details below to log in.

Enter your email address to log in as a user on your corporate account.
Remember me on this computer

Not yet an i-law subscriber?

Devices

Request a trial Find out more