AMALGAMATED INVESTMENT AND PROPERTY COMPANY LTD. (in liquidation) v. TEXAS COMMERCE INTERNATIONAL BANK LTD.

[1982] 1 Lloyd's Rep. 27

COURT OF APPEAL

Before Lord Denning, M.R., Lord Justice Eveleigh and Lord Justice Brandon

Banking - Guarantee - Estoppel - Loan made by bank subsidiary to subsidiary of plaintiffs - Guarantee not altered - Loan not repaid - Whether bank could rely on guarantee - Whether guarantee only covered sums owed by plaintiffs to bank - Whether plaintiffs estopped from contending that guarantee did not cover subsidiary's liability.