One deal, two jurisdictions: Interpreting competing jurisdiction clauses

The Court of Appeal has provided comfort to the derivatives market by giving a wide, commercial interpretation to an exclusive English jurisdiction clause in the 1992 ISDA Master Agreement. In BNP Paribas SA v Trattamento Rifiuti Metropolitani SPA [2019] EWCA Civ 768, it upheld a decision that a competing jurisdiction clause in another related contract did not override the English jurisdiction clause.

The judgment also helpfully brings together the relevant case law on how to interpret competing jurisdiction clauses. To read the full article, please register here.