Q.B.D. (Com.Ct.) (Chambers judgment) - July 1988

Traded silver options frozen by plaintiff under Mareva injunction - Value of options declining - Brokers unable to contact defendant to obtain instructions to sell - Options ordered to be sold by court upon plaintiff’s application under R.S.C., Order 29, rule 4

The plaintiff, a bank in the Federal Republic of Germany, commenced proceedings in Germany against the defendant, a resident in the Federal Republic, consequent upon the defendant’s failure to repay an unauthorised overdraft. The proceedings had no connection with England.