Federal Republic of Nigeria v JPMorgan Chase Bank NA – the Quincecare saga continues

On 14 June 2022, Cockerill J handed down her much-anticipated judgment in the trial of the claim by the Federal Republic of Nigeria (the "FRN") against JPMorgan Chase Bank NA ("JPMorgan"): [2022] EWHC 1447 (Comm). The FRN alleged breaches of the so-called Quincecare duty against JPMorgan and sought to recover in the region of USD 1 billion in relation to payments made in 2011 and 2013. The claim was commenced in 2017 and went to a heavy trial from late February to early April 2022.

You can read the full post on our Commercial, Construction & International Arbitration Blog here.