Santander Wins Bid To Force €11.5M ING Dispute To Spain
Law360, London (December 22, 2020, 5:35 PM GMT) -- A judge in London ruled on Tuesday that the English courts do not have jurisdiction to hear ING Bank's €11.5 million ($14 million) lawsuit against Santander over unpaid interest from the €1.6 billion purchase of the Spanish bank's headquarters because insolvency proceedings are underway in Spain.
High Court Judge Sara Cockerill granted Banco Santander SA's jurisdictional application in a 46-page decision, ruling the Dutch lender's claim against Santander for unpaid interest falls within the EU Insolvency Regulation and therefore must be heard in Spain.
ING can't rely on Article 25 of the Brussels Regulation, which allows the parties to pick where...
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