Read the full judgment text of HCCL 15/2013 on BabelCite. This HCCL judgment was delivered on 10 July 2013.
1. In this action the plaintiff (“Leighton”) claims payment from the defendant (“MECL”) under a written guarantee dated 2 June 2010. It is not disputed that a demand for payment of 12,162,710,117 MNT (Mongolian Tugrik) was sent by Leighton to MECL. This was the plaintiff’s application under Order 14A for my determination by way of construction of the guarantee: the plaintiff contending that it was an on demand bond or guarantee and the defendant contending that it was a true guarantee where the
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