Sucden Financial Limited v TMT Metals AG & Ors [2024]

Appeared for the First Defendant, in a summary judgment application in a claim for over $6.6 million in a dispute arising from a metals trading facility.   Mr Justice Picken considered the circumstances in which the prevention principle applied, in the context of the First Defendant’s argument that it had been prevented from paying the sums due by being forced to close its open nickel positions, as well the scope of the broker’s contractual discretion to make a margin call.