Credit Lyonnais v. ECGD

[1999] 1 Lloyd's Rep. 563

Banking - Export credit guarantee - Construction - Vicarious liability - Comprehensive bank guarantee and specific bank guarantee - Default of exporter - Bank claimed under guarantees in contract and tort - Allegations of misrepresentation and non-disclosure - Whether bank failed to verify validity and enforceability of bills of exchange - Duty of disclosure under contract of guarantee - Whether employee of ECGD had actual or ostensible authority to issue guarantees of bills of exchange - Whether employer vicariously liable - Breach of duty in relation to termination of insurance policy underlying CBG.