AFB Seminar: Trade Finance – Performance Bonds, Injunctions and the Autonomy Principle – CR Construction (UK) Company Limited v Barclays Bank Plc

AFB, in partnership with Eversheds Sutherland, invites members active in trade finance transactions to an interactive seminar examining the recent Technology and Construction Court (TCC) decision in CR Construction (UK) Company Limited v Barclays Bank Plc [2026] EWHC 202.

The judgment concerns an attempt by a principal to restrain payment under an on-demand performance bond. It provides important guidance on the autonomy principle, the fraud exception and demand validity. The Court refused the application on all grounds and awarded indemnity costs to Barclays. Eversheds Sutherland acted for Barclays as issuer.

Why attend?

The dispute progressed from first demand to judgment in approximately seven weeks, highlighting the operational and legal challenges banks face when demands, injunction threats and court proceedings arise in quick succession.

Experts from Eversheds Sutherland will discuss/review the key areas below:

• the key facts and findings of the judgment
• the Court’s approach to the autonomy principle and fraud exception
• demand validity and practical implications for issuers
• explore the operational challenges arising from urgent demands and injunction applications
• consider practical lessons and best practice for trade finance legal and operational teams

Who should attend?

This seminar will be relevant for Trade Finance, Legal, and Operations teams/ practitioners involved in trade finance transactions (including the issuance of guarantees, standby instruments and performance bonds).

Speakers

Tom Parry, Principal Associate, Litigation and Dispute Management

Tom specialises in high-stakes commercial disputes for financial services and institutional clients. He manages complex, multi-jurisdictional matters worth hundreds of millions of pounds that are strategically critical and reputationally sensitive.

He is ranked as a Leading Associate for banking litigation in the Northwest by Legal 500 and recognised as a Key Lawyer in the international Civil Fraud team. Clients describe him as “a superb associate (and partner in the making)” who is “brilliant, dedicated, engaged, client focused” and “a delight to work with.”

Tom has developed particular expertise in equitable and restitution claims, civil fraud and asset recovery, and contentious insolvency. His practice spans sophisticated interim relief applications, cross-border asset tracing, and complex multi-party disputes.

Tom has published in Law360, Global Restructuring Review, and Practical Law Company, and regularly delivers client training on interim relief and asset recovery strategy. He also serves on multiple client service teams for key financial services clients.

Logistics

Fee: Included in membership

Venue:  Eversheds Sutherland, 1 Wood St, London EC2V 7WS

Date: Tuesday, 15 September 2026

Time: 09:00 – 10:15 (arrivals and breakfast from 08:30)

If you would like to submit a question or have any specific areas that you would like the session to address, please send them to AFB at secretariat@foreignbanks.org.uk. You will receive details on how to join this session a week before the event.