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National Westminster Bank Plc v Angeli Kotonou : (1) Angeli Kotonou (2) Deborah Kotonou v National Westminster Bank Plc

Where a guarantor had succeeded in setting aside a guarantee given to a bank but had improperly and unreasonably raised allegations of fraud, the justice of the case required a split costs order under which the bank would pay 50 per cent of the guarantor's costs and the guarantor would pay 50 per cent of the bank's costs.

6 October 2006

The applicant (K) sought his costs of mortgage proceedings on an indemnity basis and his costs of guarantee proceedings in which he had succeeded in having his guarantee to the respondent bank (N) set aside. K had given a guarantee to N in respect of the indebtedness of a company he controlled and a second legal mortgage over his matrimonial home. Proceedings to determine the proper interpretation of the mortgage had been concluded in favour of K. K alleged in the guarantee proceedings that the grantee had been induced by fraudulent misrepresentations: that the guarantee would be released or relinquished in certain circumstances; that further facilities would be made available if the guarantee was given; and that if the guarantee was given the account would not be transferred to N's debt recovery department. K succeeded only on the last issue on the basis that before the guarantee was signed the bank had changed its mind and intended to refer the account for transfer and that that w...

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