- Defence conditional on payment of $120m in LIBOR rigging case (Deutsche Bank v Unitech)
- Practical implications
- The facts
- Was it possible for the court to order a payment into court or an interim payment in these circumstances?
- Interim payment
- Defence conditional on payment into court
- What did the court order and why?
- Court details
Dispute Resolution analysis: The Court of Appeal has made an order making the defendant’s defence conditional on payment of $120m into court in circumstances where, even if the defendant’s defence was successful, it would be required to pay a minimum of $120m to the claimants following a trial. The court considered that it had the power to make this order under its general case management powers in CPR 3.1(3) and that it could also, if this had been the claimants’ preference, have made an order for an interim payment under CPR 25.1(1)(k). In the circumstances, it was not just for the claimants to be kept out of their money to this extent until after a trial.
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