Judgement Handed Down: ABT Auto Investments Ltd v Aapico

An important judgment on the Financial Collateral Arrangements Regulations 2003 was handed down today (ABT Auto Investments Ltd v Aapico Investment Pte Ltd [2022] EWHC 2839 (Comm)).

Tom Smith KC and Ryan Perkins appeared for the Defendants, who succeeded in arguing that their appropriation of the shares in a company was fully compliant with the Regulations. This is the first case in which the Court has considered whether a collateral-taker complied with its duty under Regulation 18 to value the collateral in a “commercially reasonable manner”. The judgment also contains a detailed discussion on the power of appropriation.

 

An important judgment on the Financial Collateral Arrangements Regulations 2003 was handed down today (ABT Auto Investments Ltd v Aapico Investment Pte Ltd [2022] EWHC 2839 (Comm)).

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