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CHOICE OF LAW: A fair exchange

04 August 2017  

Chris Webber and Michael Davar weigh up the impact of the Rome Convention in financial derivatives claims

In the sphere of financial derivatives, claims in the English courts by foreign municipalities and other public bodies subject to special legislation have, since 2008, been numerous. In particular, there have been a number of disputes over whether foreign ‘mandatory’ laws apply to derivative contracts by operation of Art 3(3) of the Rome Convention despite the parties’ express choice of English law.

Additional Info

  • Case(s) Referenced:

    Banco Santander Totta SA v Companhia Carris De Ferro De Lisboa SA & ors [2017] EWCA Civ 1267

    Credit Suisse International v Stichting Vestia Groep [2014] EWHC 3103 (Comm)

    Dexia Crediop SPA v Comune Di Prato [2017] EWCA Civ 428

    Haugesund Kommune & anor v Depfa ACS Bank & anor [2010] EWCA Civ 579