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March 2023


15/3/23

THE LAW DEBENTURE TRUST CORPORATION PLC v UKRAINE [2023] UKSC 11

Contains a useful summary of general principles of actual and ostensible authority [38] and duress [136].  On an application for summary judgment to enforce payment of notes issued by Ukraine to the Russian Federation, a defence that the notes had been signed without authority failed.  The Minister of Finance of Ukraine had ostensible authority to issue notes.  The imposition of trade restrictions on Ukraine by Russia was not capable of establishing a defence of economic duress in English law but the threatened use of force by Russia against Ukrainian citizens and property was, and would have to be determined at a trial.