In this article, Andrew Bowen QC looks at the doctrine of subrogation in the context of complex contractual relationships and debtors liability in the case of Ibrahim v Barclays Bank Plc [2012] 2 All E.R. (Comm) 1167. In this case, the subrogation claim was defeated as a result of the discharge of the debt and provides a salutary lesson in the dangers involved in negotiating complex contracts under time pressure. This article was first published in Greens Business Law Bulletin, Issue 124 (published June 2013) and is reproduced here with the kind permission of W. Green, The Law Publishers.