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Natural justice – Duty to act fairly. The defendant, the London Metal Exchange, decided, following a consultation process, to implement a new rule (the LILO rule)and excluded the possibility of a rent ban option. The claimant, United Company Rusal Plc, sought judicial review. The judge held that, inter alia, as the rent ban was the next best option, consultees had to know the reasons why it had been rejected in order properly to understand the LILO rule. The Court of Appeal, Civil Division, in allowing the defendant's appeal, held that, inter alia, the defendant had correctly disclosed the true reasons for the LILO rule and it had had no obligation to put forward a proposal which it was not willing to promote.
Natural justice – Duty to act fairly. The defendant, the London Metal Exchange, decided, following a consultation process, to implement a new rule (the LILO rule)and excluded the possibility of a rent ban option. The claimant, United Company Rusal Plc, sought judicial review. The judge held that, inter alia, as the rent ban was the next best option, consultees had to know the reasons why it had been rejected in order properly to understand the LILO rule. The Court of Appeal, Civil Division, in allowing the defendant's appeal, held that, inter alia, the defendant had correctly disclosed the true reasons for the LILO rule and it had had no obligation to put forward a proposal which it was not willing to promote.
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