The Business and Property Courts (Commercial Court) 20 March 2017, [2017] EWHC 522 (Comm) (LBI EHF (in winding up) v Raiffeisen Zentralbank Osterreich AG & Anor)

The Claimant (“LBI”) was the bank formerly named Landsbanki Islands hf. It entered into a number of trades with the Defendants (“RZB”). On 7 October 2008 LBI failed. At that date there were eleven open positions between LBI and RZB relating to “repo” trades and three open positions relating to securities lending trades. These trades were on the terms of two master agreements.