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The Supreme Court has refused Rusal’s application for leave to appeal in a case on the procedural fairness of a consultation process carried out by the London Metal Exchange, stating that “the application does not raise an arguable point of law”.

The attached article, written by Sarah Wilkinson, gives a summary of the issues involved in the case and of the judgment of the Court of Appeal, which now stands.  This article will appear in the January 2015 issue of the Journal of International Banking and Finance Law. The full Court of Appeal judgment can be found here: http://www.bailii.org/ew/cases/EWCA/Civ/2014/1271.html.

Monica Carss-Frisk QC, James Segan and Naina Patel acted for the metal producer Rusal, and Michael Beloff QC and Simon Pritchard acted for the London Metal Exchange.

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