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06.09.2010
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News Details


Charles Samek QC and David Lascelles secure summary judgment for Icelandic investor
16.03.2010

Charles Samek QC and David Lascelles secure summary judgment for Icelandic investor against the Isle of Man subsidiary of Kaupthing Bank.  The investor had sub-participated in a loan made by Kaupthing to an offshore entity connected with the Tchenguiz brothers’ purchase of Somerfield supermarket group in 2005.  Following the repayment of the loan, the Isle of Man subsidiary had declined to make repayment of principal and interest raising various alleged defences.  Newey J in the Chancery Division granted the investor summary judgment holding that there was no real prospect of a defence to the claim.  Charles and David, who act for other Icelandic investors, were instructed by LOGOS, a specialist Icelandic law firm heavily engaged in the litigation fall-out from the Icelandic banking collapse.

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