An interlocutory injunction may be granted pending appeal to restrain a party from calling on bank guarantees where the appeal has reasonable prospects of success on the construction of the contractual clause governing recourse to the guarantees, and there is a substantial risk the appeal will be rendered nugatory. Reputational damage from the calling of bonds is a relevant factor in the balance of convenience.
The full text is available to signed-in members, including the 1 later case that cites this judgment.