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The High Court dismissed the plaintiff's claim against the defendant, a financial institution, on the grounds that it disclosed no reasonable cause of action and was bound to fail. The plaintiff's allegations, which included breaches of the Competition Act 2002, price-fixing, and collusion, were found to lack legal coherence and were previously rejected by the Supreme Court. Additionally, the claims were deemed statute-barred and the plaintiff lacked standing to challenge the bank's conduct that did not directly affect him. The court also refused the plaintiff's applications for judgment in default of defense and to join co-defendants, finding them misconceived. The lis pendens registered by the plaintiff will not be vacated as the defendant's standing to seek such an order is unclear following the sale of rights and interests to a third party.
financial institution, declaratory orders, injunctive relief, damages, property ownership, bank guarantee, Competition Act 2002, Rules of the Superior Courts (RSC), Order 19 rule 28, lis pendens, Land and Conveyancing Act 2009, price-fixing, statute-barred, locus standi, securitisation, international financial reporting standards (IFRS), National Asset Management Agency (NAMA), collateral contingent funding, Henderson v Henderson principle, abuse of process, final determinations, Supreme Court, High Court, Circuit Court.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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