Lombard north central PLC sort code
In a judgment dated 25 April 2012 (Lombard North Central plc and another v GATX Corporation  EWHC 1067 (Comm)), Judge Andrew Smith of the English High Court (Commercial Court) underlined the potential risks that might arise from arbitration clauses which have a limited scope. Although this judgment is relevant to a number of different procedural and substantive aspects (including the statutory construction of the arbitration exception as enshrined in English law (Section 9 of the Arbitration Act 1996 (the “Act”)), this blog post considers issues of scope of arbitration clauses.
In 1998, Lombard and GATX concluded an agreement concerning the financing of train vehicles. In 2000, Lombard and GATX concluded another agreement. Clause 9.4 of the 2000 agreement allowed GATX, in some circumstances, to force the sale of the trains and realise their share of the profits. The 2000 agreement, including parts of its Clause 9.4, was amended by a further agreement entered into in 2004.
Clause 9.4(i), as amended in 2004, provided that if no agreement to extend the lease of the train vehicles was put into place with the UK Strategic Rail Authority by 30 March 2004, then, by no later than 30 June 2011, the parties were to establish a joint venture “in a form and manner acceptable to the parties thereto.” This provision added that “[if] the parties have been unable to establish a [joint venture] by 30 June 2011, the parties agree to negotiate in good faith to achieve such objectives through other means at the earliest opportunity.”
Source: Kluwer Arbitration Blog
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Search for Bank Sort Code Q&A Bank Sort Code
Sort Codes. Displaying 1 to 2 of 2 results. Bank Name; Sort Code; Address. LOMBARD NORTH CENTRAL PLC. 571433. Equivalent Codes: 57-14-33.