United Kingdom

Lomas v JFB Firth Rixson Inc

[2012] EWCA Civ 419

JurisdictionUnited Kingdom

Year2012

Statusunclear

Key Principle

The ipso facto prohibition (now reflected in the Companies Act 2006) prevents counterparties from terminating derivatives contracts solely because a company enters administration; but flawed asset provisions are enforceable.

Area of Law

banking

Related Cases

Westpac Banking Corporation v Lenthall (2019) 269 CLR 574

AUSTRAC v Commonwealth Bank of Australia [2018] FCA 930

Paciocco v ANZ Banking Group Ltd (Full Federal Court) (2015) 236 FCR 199

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