SOCOMEX LTD., DE BOTTON AND SOCOMEX FUTURES LTD. v. BANQUE BRUXELLES LAMBERT S.A.
[1996] 1 Lloyd's Rep. 156
QUEEN’S BENCH DIVISION(COMMERCIAL COURT)
Before Mr. Justice Mance
Banking - Banking facilities - Withdrawal - Commodity contracts - Plaintiffs entered into substantial futures contracts as hedge for unmatched physical purchases - Plaintiffs alleged bank summarily withdrew its support for hedge - Whether bank in breach of contract or duty - Whether reasonable notice of withdrawal of support should have been given.
Banking - Guarantee - Banking facilities - Commodity contracts - Second plaintiff unconditionally guaranteed payment of moneys to bank - Plaintiffs entered into substantial futures contracts - Plaintiffs alleged bank summarily withdrew support - Whether reasonable notice should have been given - Whether liabilities under guarantee discharged.