MAPLE LEAF MACRO VOLATILITY MASTER FUND AND ANOTHER v ROUVROY AND ANOTHER

[2009] Lloyd's Rep Plus 36

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Andrew Smith

Funding Agreement – Claim for breach and claim for deceit – Whether English court possessed jurisdiction – Whether defendants had submitted to the jurisdiction of the English courts by entering appearance – Scope of exclusive jurisdiction agreement – Whether agreement a consumer agreement – Whether tort committed in England – Council Regulation (EC) No 44/2001, articles 5(3), 15, 23 and 24 – Validity of Funding Agreement – Intention to create legal relations – Whether there was a breach of the Funding Agreement – Whether termination provisions in Funding Agreement constituted a penalty at common law – Scope of Unfair Terms in Consumer Contracts Regulations 1999 – Scope of Consumer Credit Act 1974, sections 140A and 140B – Whether defendants liable in the tort of deceit – Whether defendants had counterclaim under section 150 of the Financial Services and Markets Act 2000 for breach of Conduct of Business Rules.