Milbank’s Mark Padley and Thomas Deakin Co‑Author Article in Financier Worldwide Corporate Disputes Issue

Milbank LLP Litigation & Arbitration special counsel Mark Padley and associate Thomas Deakin co‑authored “Braganza and Beyond: Why Rationality Matters in Exercising Contractual Discretion,” an in‑depth article featured in the 54th edition of Corporate Disputes, published quarterly by Financier Worldwide.

The article examines how English law applies the Braganza duty to ensure that contractual discretion is exercised in a rational, non‑arbitrary manner, tracing its origins to Braganza v BP Shipping Ltd and highlighting its increasing relevance in commercial contracts. The feature also discusses the duty’s application in the 2025 High Court decision in Macdonald Hotels v Bank of Scotland and explores the practical implications for commercial parties when negotiating and performing contracts involving discretionary rights.

Click here to read (Financier Worldwide subscription required).