Jurisdiction(s):
United Kingdom

Banking & Finance litigation round-up (England and Wales), February 2026: performance bond injunctions, service of winding-up petitions, s 44 CA 2006 good faith, economic duress, solicitors’ negligence, undervalue transactions

Published on: 04 March 2026

Published by a LexisNexis Banking & Finance expert

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Banking & Finance—February 2026 case round-up

CR Construction (UK) Co Ltd v Barclays Bank Plc (Northern Gateway (FEC) No 7 Ltd, intervening) [2026] EWHC 202 (TCC)

Performance bond—injunction to restrain payment

This matter concerned a contractor’s bid for an interim injunction preventing a bank from honouring the employer’s call under a performance bond that secured the contractor’s payment liabilities under a construction contract. The employer brought the contract to an end for alleged breaches by the contractor. The contractor disputed those breaches, treated the termination as repudiatory, and accepted that repudiation. The High Court refused the application, restating that an injunction restraining a paying bank will only be granted where there is clear evidence of fraud, which was not advanced in this case. The court also rejected the argument that the employer’s repudiatory breach discharged the bond, finding that the bond’s standard savings clause was sufficiently broad to encompass repudiatory termination, so the bond remained enforceable…

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