Law digests: 2 August 2024

Bank

Riley and another v National Westminster Bank Plc [2024] EWCA Civ 833, [2024] All ER (D) 97 (Jul)

The Court of Appeal, Civil Division, dismissed an appeal by the appellant, directors of a building company, from a decision of the High Court that had granted the respondent bank reverse summary judgment on the appellants’ claim against the bank for fraudulent misrepresentation. The appellants were the directors of a building development company, RHL. The respondent bank gave secure loans to RHL. The bank later transferred management of RHL’s loans to its Global Restructuring Group (GRG). The appellants contended that that involved wrongdoing by the bank. The parties entered into a settlement deed under which the appellants paid a reduced sum to settle all claims against the bank related to RHL. Later the appellants brought a claim alleging that the bank had made fraudulent misrepresentations about its intentions regarding RHL, based in part on new information. The bank denied the claim. The judge decided that the claims against the bank had been compromised