CL-2022-000456 - [2025] EWHC 1938 (Comm)

In addition to Article 2 of Regulation 269, the Banks also relied on Article 11. This prohibits the satisfaction of any claim in connection with any contract or transaction the performance of which has been affected by Regulation 269, if it is made by a designated person or entity.

Article 11 can only apply if the Bonds are affected by Regulation 269. If so, this provision adds nothing to the other arguments. I understood Mr Handyside KC, in particular, to accept this.