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Lloyd's Law Reports

BANQUE SAUDI FRANSI v LEAR SIEGLER SERVICES INC

[2006] 1 Lloyd's Rep. 273

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before His Honour Judge Mackie QC

Guarantee - Subsidiary of defendant arranged with bank for issue of performance bond - Defendant guaranteed subsidiary’s liability to bank in event of payment - Claim under the bond paid by bank - Defendant refused to honour guarantee - Whether claim under performance bond fraudulent.

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