Briefings

Widening the net: metals repo fraud, rescission and bringing claims in tort

The English Commercial Court has handed down judgment¹  in another metals fraud, this time involving forged warehouse receipts used in contracts for the sale and repurchase of nickel. The case is unusual because having rescinded the contracts in question, the claimant broker sought to recover its losses from a large number of defendants by means of claims in tort, rather than in contract.

Footnotes: 

1. ED&F Man Capital Markets Limited v Come Harvest Limited [2022] EWHC 229 (Comm)

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