Anti-suit injunctions and exclusion of liability (JP Morgan v Werealize)
Commercial analysis: The Commercial Court granted anti-suit injunction (ASI) relief to directors of Viva, a Greek fintech company, restraining JP Morgan (JPM) from pursuing tort claims against them in Greece, as such proceedings breached an implied obligation in a shareholders’ agreement (SHA) not to bring proceedings in jurisdictions where exclusion of liability provisions would not be effective. The court found that clause 33 of the SHA, which provided that ‘no party (nor any of its Representatives) shall owe any duty of care or have any liability in tort or otherwise to any other party (or its respective Representatives)’, contained an implied promise not to sue in jurisdictions that would not give effect to such provisions. The court rejected alternative ASI relief claims based on quasi-contractual arguments and vexatious conduct. This decision demonstrates how contractual immunity clauses can be enforced through ASI even against non-signatory third parties, providing important guidance for commercial drafters on extraterritorial enforcement of liability exclusions. Written by Parham Kouchikali (partner) and Natalia Faekova (Senior Associate) at Taylor Wessing LLP.