Kleinwort Benson LTD vs Malasian Mining Corporation (1989) Preview
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Kleinwort Benson LTD vs Malasian Mining Corporation (1989)
Kleinwort Benson LTD vs Malasian Mining Corporation (1989)

Malaysian Mining Corporation had a subsidiary business called Metals LTD of which Kleinwort lent £10 Million. The parent company, Malaysian Mining Corporation, refused to guarantee a loan but instead issued a comfort letter that stated that their intention was to ensure that Metals LTD had sufficient funds available for the repayment of the loan. When Metals LTD went out of business and could not repay Kleinwort, he later sued the parent company. This was based on the existence of the comfort letter but he failed with his attempts.

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