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competing jurisdiction clausesderivativesconstruction
Deutsche Bank AG v Sebastian Holdings Inc
Deutsche Bank AG v Sebastian Holdings Inc [2009] EWHC 3069 (Comm)
Key Principle
Where a series of related financial agreements contains differing jurisdiction clauses, the court construes them as a coherent whole presuming that the parties intended any given dispute to be litigated in a single jurisdiction, and a later exclusive English jurisdiction agreement may be taken to vary earlier arrangements permitting concurrent proceedings, so the English court will not stay claims properly brought under the clause conferring English jurisdiction.
Area of Law
General
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