Contract

02 December 2016

Issue: 7725 / Categories: Case law , Law digest , In Court

Lehman Brothers International (Europe) (an unlimited company incorporated under the law of England and Wales) (in administration) v Exxonmobil Financial Services BV [2016] EWHC 2699 (Comm), [2016] All ER (D) 138 (Nov)

The case concerned an outstanding sale and repurchase (“repo”) transaction between Lehman Brothers International (Europe) and ExxonMobil Financial Services BV at the time of the international financial collapse of the Lehman Brothers group. The Queen’s Bench Division made a number of findings as to the construction of the termination provisions in the Global Master Repurchase Agreement (2000 version) as the repo was subject to such provisions.

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