Timothy Howe QC, Henry King and Natasha Bennett, instructed by Herbert Smith Freehills LLP (Simon Clarke) have succeeded in recovering for Credit Suisse substantial sums due from its counterparty Vestia, the Dutch housing association, under an ISDA Master Agreement (or damages in that amount), with an interim payment of over €73 million. The case raised issues of contractual estoppel, capacity, authority and damages for breach of warranty in the ISDA Master Agreement. The judgment can be found here.
