English High Court Enforces Asymmetric Jurisdiction Clause in a Syndicated Loan Facility Agreement

On 24 May 2024, the English High Court granted final injunctive relief to Barclays Bank Plc (Barclays), both in the form of an anti-suit injunction and an anti-enforcement injunction, arising out of a syndicated loan agreement (the Facility) entered into between Barclays and PJSC Sovcombank (Sovcombank).¹ In a judgment that will be of interest to financial institutions and investors involved in cross-border disputes and to the public loan market, the English Courts have demonstrated a willingness to enforce asymmetric jurisdiction clauses, which are commonly seen in the syndicated loans market.

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