Central Térmica de Temane S.A. v TSK Electrónica y Electricidad S.A. and TSK Moçambique Limitada

Procedural record

1. 13 October 2026United Kingdom

   13 October 2026United Kingdom

   Judgment of the High Court of Justice, Commercial Court in the case CL-2025-000494 dated 13 October 2026

   High Court of Justice, Commercial Court

   Case no.

   CL-2025-000494

   Citation

   [2026] EWHC 2587 (Comm)

   Decision summary

   The court held that Santander could not rely on the Spanish interim injunction as a defence to payment under the English-law demand bonds, ordered payment of USD 90,796,078.66 plus interest to Central Térmica de Temane, and refused a stay or deferred payment order.

   Participants

   Application

   Part 8 claim — Judgment for Central Térmica de Temane

   Application

   Application for stay of execution — Refused

   Application

   Application for deferred payment order — Refused

   Central Térmica de Temane S.A.

   Representative

   Stephen Houseman KC (For: Central Térmica de Temane S.A.)

   Representative

   Nehali Shah KC (For: Central Térmica de Temane S.A.)

   Representative

   Moritz Grimm (For: Central Térmica de Temane S.A.)

   Representative

   Greenwoods Legal Services Limited (For: Central Térmica de Temane S.A.)

   Citibank, N.A., London Branch

   Representative

   Goodwin Procter (UK) LLP (For: Citibank, N.A., London Branch)

   Banco Santander S.A.

   Representative

   Adrian Beltrami KC (For: Banco Santander S.A.)

   Representative

   Paul Bonner Hughes (For: Banco Santander S.A.)

   Representative

   Allen Overy Shearman Sterling LLP (For: Banco Santander S.A.)

   High Court of Justice, Commercial Court

   Judge

   Mr Justice Calver

   Authorities cited

   13

   • Ralli Brothers
     case-law
   • Libyan Investment Authority v Maud
     case-law
   • Ross T Smyth v WN Lindsay ([1953] WLR 1280)
     case-law
   • In re Anglo-Russian Merchant Traders and John Batt & Co ([1917] 2 KB 679)
     case-law
   • Spliethoff's Bevrachtingskantoor BV v Bank of China ([2016] 1 All ER (Comm) 1034)
     case-law
   • National Infrastructure Development Co Ltd v BNP Paribas ([2016] EWHC 2508 (Comm))
     case-law
   • Macquarie Bank Ltd v Banque Cantonale Vaudoise ([2024] EWHC 114 (Comm))
     case-law
   • Edward Owen Engineering Ltd v Barclays Bank International Ltd ([1979] QB 159)
     case-law
   • Hamzeh Malas & Sons v British Imex Industries Ltd ([1958] 2 QB 127)
     case-law
   • Power Curber International Ltd v National Bank of Kuwait SAK ([1981] 1 WLR 1233)
     case-law
   • Continental Illinois v National Bank Trust Company of Chicago ([1986] 2 Lloyd's Rep 441)
     case-law
   • Maritza
     case-law
   • Civil Procedure Rules
     statute