Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
Find up-to-date guidance on points of law and then easily pull up sources to support your advice with Lexis PSL
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
What did the court decide in CF Partners (UK) LLP v Barclays Bank Plc and can liability arise without a written confidentiality agreement?
CF Partners (UK) LLP v Barclays Bank Plc  EWHC 3049 (Ch),  All ER (D) 179 (Sep)
The claimant (CFP) had approached the first defendant bank (Barclays), through a company (IVC) intending to obtain financial assistance to pursue a valuable project (Project Arctic Fox). CFP brought a claim for misuse of confidentiality and exclusivity agreements against Barclays and the second defendant company (Tricorona) in respect of the project. The Chancery Division ruled that Barclays and Tricorona had breached obligations of confidentiality by misusing confidential information for the purpose of establishing a strategic partnership between them, but had not breached the exclusivity agreements. Accordingly, CFP was entitled to compensation of €10m.
CFP argued that it had introduced Project Arctic Fox to Barclays, subject to a duty of confidence and subject also to a contractual obligation of exclusivity. It argued that Barclays had then used that information, not to facilitate Project Arctic Fox, but to assist it to develop a strategic partnership with Tricorona, which had resulted in the acquisition of Tricorona by Barclays for its own account.
A confidentiality agreement had been made between IVC and Barclays, which imposed exclusivity obligations. However, it was common ground that those provisions could not be invoked by CFP nor relied on by Barclays. The issue was whether an equitable duty arose. The contractual arrangements did colour the issue—Barclays should be predisposed to accept that information falling within the scope of the definition of confidential information falls to be treated as confidential. The scope and content of equitable obligations are informed, but neither exclusively nor conclusively defined, by a contract, even in the case of a contract between exactly the same parties.
The following points were made regarding Barclays' handling of
Free trials are only available to individuals based in the UK
* denotes a required field
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial. See our full terms here.
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234