LMA briefing – Q3 2020: cases looking a contractual interpretation

LMA briefing – Q3 2020: cases looking a contractual interpretation In this briefing, the LexisPSL Banking & Finance team looks at three recent cases on contractual
interpretation. Each provides interesting insights into questions of construction which could arise in

a lending context.

The Court of Appeal decision in Lamesa Investment Ltd v Cynergy Bank Ltd leaves open the possibility
of a significantly different outcome depending on whether the clause in question is a standard form
clause or more bespoke. In the second case, AXA SA v Genworth Financial International Holdings, the
court looked at the meaning of ‘incurred’, a term commonly used in finance documentation. The
third, Altera Voyageur Production Ltd v Premier Oil is only the second reported decision on the effect of

worked examples on interpretation of contracts.

Click here to read the briefing. 

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About the author:

Miranda is a solicitor specialising in leveraged and acquisition finance. She trained at Hogan Lovells International LLP and qualified into the international banking and finance team. During her time at Hogan Lovells she worked on a variety of domestic and cross-border transactions, acting for both borrowers and lenders. She also experienced secondments to Barclays Bank PLC and Kaupthing Bank hf.