Citation: BLM Vol. 27 No. 7 TCC, EWHC 1632 (TCC)
Nature of case: This is a subsequent part of the litigation which dealt with argument of frustration by economic factors. This part considered the nature and extent of the obligation of a party who agrees to act at all times in good faith. The basic interpretation was that it does not impose a fiduciary duty so that the party subject to the obligation is not required to abandon the pursuit of self-interest. Rather it operates to qualify self-interest, requiring that both parties act so as to allow both to enjoy the anticipated benefits of the contract. It does not require either party to give up a freely negotiated financial advantage clearly expressed in the contract.
Counsel: HH Judge Stephen Furst QC sitting as a Deputy Judge
