SUMITOMO BANK LTD. v. BANQUE BRUXELLES LAMBERT S.A. SANWA BANK LTD. v. SAME ARAB BANK PLC v. SAME

[1997] 1 Lloyd's Rep. 487

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Langley

Insurance (MIG) - Non-disclosure - Duty of care - Defendants arranged loan facility with plaintiff banks - Loans underwritten by insurance company - Borrowers defaulted on loans - Insurers avoided policies for non-disclosure - Whether defendants under duty to plaintiffs to exercise proper and reasonable care to discharge disclosure obligations - Whether plaintiffs relied on representations made by defendants.