Asplin J sitting as a Judge in the Financial List today handed down judgment inHockin Ors v RBS plc Or [2016] EWHC 925 (Ch). The Judge held that it was arguable that a power or discretion of assignment in the hands of the bank within a £55m loan facility agreement was attended by an implied duty of good faith as to the manner in which it was exercised.
The Judge also considered the proper construction of a Deed of Assignment by which the administrators assigned certain causes of action to the claimants. The matter is due to go to trial in January 2017.