United Kingdom close outrepudiationmargin

Sucden Financial Ltd v Fluxo-Cane Overseas Ltd

[2010] EWHC 2133 (Comm)

JurisdictionUnited Kingdom

CourtHigh Court of Justice, Queen's Bench Division (Commercial Court)

Year2010

StatusPersuasive authority

Key Principle

The court held that a margin call under an ISDA Master Agreement is enforceable as a contractual right; the failure to meet a margin call constitutes an event of default entitling the non-defaulting party to close out and net.

Area of Law

banking

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