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High Court grants summary judgment to plaintiff in sums of US$219,901,910.64 and €253,951,810.67, despite bankruptcy of defendant in Northern Ireland, and adjourns balance of claims.
Applications for summary judgment in three actions - funds due on instruments of guarantee and indemnity - transfer to Commercial Court - bankruptcy of defendant in Northern Ireland - invitation to Official Receiver to participate in proceedings - application pending to annul bankruptcy - application by Official Receiver for adjournment - test for summary judgment - lack of defence on part of either defendant - whether bankruptcy in Northern Ireland resulted in automatic stay on proceedings - whether any decision would have an effect on bankruptcy process - debts to plaintiff admitted by defendant in affidavit in Northern Irish proceedings.
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