Barclays Capital v Petromiralles

[2015] EWHC 2512

15th October 2015

Commercial Court


The bank sought several million euros from downstream Spanish oil company, Petromiralles under foreign exchange accumulator transactions.  P denied the debt and that it had entered into any contract with the bank, although accepted that it had entered into spot purchase transactions with Barclays Spain.  Invoking Article 23 44/2001, the bank alleged that the English court had jurisdiction under the jurisdiction clause in its terms of business.

HHJ Mackie (sitting as a High Court Judge)


Finding for P, the judge held that on the facts, there could not have been a consensus on the jurisdiction clause, the bank’s standard terms did not identify the parties, or that it was provided to P in Spanish, nor was such a clause established in the parties routine trading relations. 

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