Summary judgment

Goldman Sachs International v Videocon Global Ltd and another [2016] EWCA Civ 130, [2016] All ER (D) 151 (Mar) NLJ 8 April


The Court of Appeal dismissed the defendants’ appeal against the grant of summary judgment to the claimant in the sum of almost US $4.1m, together with interest and expenses. In construing s6 of the 1992 (Multicurrency—Cross Border) ISDA Master Agreement, it held that a debt obligation in respect of an early termination date arose, or accrued due on, or as at, the early termination date. The payment date was triggered, for the purposes of s6(d)(ii) of the Master Agreement, by the “effective” giving of notice of the amount payable.