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

Lloyd's Law Reports

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.

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