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ON APPEAL FROM THE FAMILY DIVSION
(MR JUSTICE PARKER)
Strand, London, WC2A 2LL |
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B e f o r e :
LORD JUSTICE LEWISON
and
LORD JUSTICE HEDLEY
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MALIALIS |
Appellant |
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- and - |
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MALIALIS |
Respondent |
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Mr David Sawtell (instructed by Arlington Crown Solicitors) appeared on behalf of the Respondent.
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Crown Copyright ©
Lord Justice Thorpe:
"Upon the Court expecting the Respondent to use his best endeavours to procure the release of the Petitioner from any liability in respect of liabilities under any Laiki bank guarantee he has caused to come into being."
"Residual liability means the difference between:
1) the amount of any liability or potential liability to Laiki bank undertaking by the petitioner under any guarantee, and
2) the amount which can reasonably be expected to be recovered by the Laiki bank from the principal debtor whose debt is guaranteed by any such guarantee."
"by way of indemnity a lump sum equivalent to the residual liability as defined above."
Lord Justice Lewison:
Mr Justice Hedley:
Order: Application granted; appeal allowed subject to revisions