applied to loans via bank’s subsidiary.
denying the fact by an estoppel by convention:
by convention differs from promissory estoppel in that no representation
needed, judgments indicate that different forms of estoppel could be merged
together into one general principle shorn of technicalities.
strictly it was AIP who brought the claim (for declaratory relief), bank was
effectively founding cause of action on estoppel.
But Brandon LJ stated that whilst plaintiff
could not found an action on an estoppel,
he may, as result of being able to rely on estoppel, succeed on a cause of action
which otherwise would have failed.