Riley & anr (claimants/appellants) v National Westminster Bank PLC (defendant/respondent)
Tuesday 25 – Wednesday 26 June 2024
By appellant’s notice filed on 30 November 2023, the claimants appeal the order of Freedman J, sitting in the High Court, Business and Property Courts, dated 2 November 2023 (judgment on 29 September 2023), whereby he ordered that the claim be dismissed, judgment entered on the counterclaim of £2,750,000 inclusive of interest and made consequential orders.
Background – The case arises out of a relationship between a company called Riley (Holdings) Limited (“RHL”) and NatWest (“the Bank”). The Bank had made a series of loans to RHL to finance a high quality residential development. In 2012, the Bank served a series of demands for repayment of the loans and then placed RHL into administration. Following various allegations made against the Bank thereafter, the claimants and the Bank entered into a Settlement Deed on 12 November 2014.
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