ABN AMRO COMMERCIAL FINANCE PLC v MCGINN AND OTHERS

[2014] 2 Lloyd's Rep. 333

QUEEN'S BENCH DIVISION(COMMERCIAL COURT)

Before Mr Justice FLAUX

Deed of indemnity – Factor entering into invoice discounting agreement with company and purchasing company's present and future debts – Factor also entering into deeds of indemnity with directors of company – Company going into administration – Factor claiming to recover outstanding debit balance from directors under deeds of indemnity – Whether liability of directors primary or secondary – Whether “proofs of delivery” constituted “Financial Records” – Whether defendants had arguable defence as to quantum – Effect of “conclusive evidence” clause – Whether “manifest error” – Whether claimant failed to mitigate loss – Whether claimant entitled to summary judgment.