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Perspective - Blog
JCT Insurance Options: what's the right fit for fit-out?
Where a tenant is fitting out premises within a multi-occupied building, the JCT's standard insurance options are not always appropriate and, left unaddressed, place unintended and severe risks on the tenant.
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Perspective - Blog
Government property, Kirstie and Phil style?
Ok, so Ms Allsopp and Mr Spencer haven’t quite been called in yet, but almost.
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Perspective - Blog
Is the Green Deal a great deal?
There is no denying the Green Deal has many advantages but consider the deal in relation to short term leases and it may not be as great as it initially seems.
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Perspective - Blog
NEC3 Engineering and Construction Contract "Guidance Notes": more important than you realise for interpreting the ECC
Certain terms of the NEC3 Engineering and Construction Contract ('ECC') are open to interpretation, and the recent case of E-Nik Ltd v Department for Communities & Local Government [2012] EWHC 3027 (Comm) has cast into doubt whether even something as routine as VAT is crystal-clear under the ECC.
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Perspective - Blog
Development incentives – but at what cost?
In light of what is starting to appear to be a wholehearted failure to persuade local communities to meet requisite housing targets, Nick Boles last week proposed self-proclaimed "bungs" to local communities.
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Perspective - Blog
Leaving customers without signal: the task of re-building the Telecoms Code
Now almost 30 years old, the Electronic Communications Code (the 'Code'), falls far short of representing the needs of a swiftly developing communications network.
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Perspective - Blog
H&M: Brave New World?
We have all been involved in lease negotiations where there are differences of opinion as to what is or is not institutionally acceptable.
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Perspective - Blog
End of the line for Village Greens?
Nothing can be more frustrating for a developer to see its scheme delayed or worse still derailed by an application for the registration of land as a town or village green ("TVG").
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Profile
Perspective - Snapshot
Snapshots Summer 2024
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
What in the AI is going on… April to June 2024
Meta launched its newest generation of its open-source LLM (large language model), Llama 3, which is the technology that powers its AI systems. The launch of Llama 3 signals a step closer to human-like AI that can reason and bestow a memory. OpenAI also discussed plans for its next AI model, GPT-5. Like Llama 3, GPT-5 will see improvements to the model’s planning and reasoning capabilities, going beyond its current capability to deal with discrete tasks. GPT-5 is expected to be released later in the year.
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Perspective - Snapshot
CMA publishes update paper on AI Foundation Models
What is the state of play for the market of AI Foundation Models (FM) and what issues in the market is the Competition and Markets Authority (CMA) most concerned about?
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Perspective - Snapshot
EU AI Act is signed!
What are the core elements of the EU’s Artificial Intelligence Act and how does it impact the regulation of AI systems?
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Perspective - Snapshot
Online Safety Act: Ofcom consults on draft codes to protect children online
What must businesses do to ensure online safety for children under the latest codes of practice published by Ofcom?
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Perspective - Snapshot
UK’s Digital Regulation Co-operation Forum announces new AI and Digital Hub Pilot
What is the AI and Digital Hub and how can AI innovators use it?
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Perspective - Snapshot
EU designates Apple a gatekeeper for iPadOS but not for iMessage
Can a business avoid being designated a “gatekeeper” under the Digital Markets Act (DMA) even if it satisfies the quantitative criteria under the DMA?
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Perspective - Snapshot
New EU guidelines on mitigating risks for electoral
What are the European Commission’s new guidelines and how do they protect the integrity of electoral processes?
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Perspective - Snapshot
Snapshots Spring 2024
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Winter 2023
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Autumn 2023
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Summer 2023
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Spring 2023
A roundup of key legal developments for the modern commercial lawyer.
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Perspective - Snapshot
Snapshots Winter 2022
A roundup of key legal developments for the modern commercial lawyer.
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Press and Media
The Times recognises RPC among Best Law Firms 2024
International law firm, RPC, has been recognised by The Times in its Best Law Firms 2024 report, an annual ranking of the top 250 law firms in England and Wales.
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Perspective - Publication
Banking and Financial Markets Litigation Update - Summer 2024
This update is brought to you by RPC’s top tier banking and financial markets disputes practice in London, with specialists in all areas of financial markets litigation (and arbitration) and a wealth of expertise including frequent involvement in the most complex, high-value, and high-profile disputes in the sphere. Here, we take a look at some of the most important judgments in recent months.
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Perspective - Blog
Crypto damages quantification: valuation at the date of breach or date of judgment?
In Southgate v. Graham [2024] EWHC 1692 (Ch), the High Court addressed an appeal from the County Court concerning inter alia the appropriate date for assessing damages in a cryptocurrency loan dispute. Initially, the County Court determined that the damages should be based on the cryptocurrency's fiat value at the breach date. Due to the volatility of the cryptocurrency, this decision would have resulted in significantly lower fiat damages award than if the valuation were based on a later date. The High Court allowed the valuation date part of the appeal, directing a further hearing to establish the appropriate date.
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Perspective - Blog
Summary judgment against persons unknown – a tale of two crypto judgments
Two recent crypto judgements in the High Court, Mooij v Persons Unknown (February 2024) and Boonyaem v Persons Unknown (December 2023) reached different conclusions regarding whether a summary judgment could be granted against unidentified (and unidentifiable) fraudsters, with Mooji deciding 'yes' and Boonyaem deciding 'no'.
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Perspective - Blog
Supreme Court confirms no knowing receipt claim where equitable interest is destroyed: Byers v Saudi National Bank
In Byers v Saudi National Bank, the Supreme Court affirmed the findings of the lower courts by holding that a claim for knowing receipt cannot be made if a claimant’s equitable interest in the property in question has been extinguished by the time of the defendant’s knowing receipt of the property.
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Perspective - Blog
Merchants Beat Venice: Court of Appeal finds that local authority of Venice did have capacity to enter into Interest Rate Swaps
In a significant judgment in Banca Intesa Sanpaolo and Dexia Credit Local SA v Comune di Venezia [2023] EWCA Civ 1482, the Court of Appeal overturned the findings of the High Court
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Perspective - Blog
Binance successfully challenges interim proprietary injunction over deposited cryptoassets
In Piroozzadeh v Persons Unknown and Others [2023] EWHC 1024 (Ch), the cryptocurrency exchange Binance successfully applied to discharge an interim proprietary injunction obtained by a claimant whose misappropriated cryptoassets had been deposited at the exchange. This is the first recorded case of an exchange successfully having discharged such an injunction.
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Perspective - Blog
High Court favours English jurisdiction in bribery claim brought by Kuwaiti pension fund
The High Court recently rejected an application, brought by two defendants to an alleged bribery claim advanced by a Kuwaiti pension fund, that the claim should be heard before the Swiss courts, holding that England was the proper jurisdiction both in order to avoid the risk of fragmentation of proceedings, and in view of the close connection of the claim to England.
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Perspective - Blog
Considering bringing an RFI application? Is it strictly necessary?
Andrew Ayres KC and Andrew Dinsmore (Twenty Essex), instructed by Parham Kouchikali and Suzie Kurdi of this firm, successfully resisted a Request for Further Information (RFI) in the High Court.
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Perspective - Blog
Court of Appeal rejects timing and informed consent defences in bond bribery case
In a recent decision, the Court of Appeal decided in Trafalgar Multi Asset Trading Company Limited (in liquidation) v James David Hadley and others that pleaded defences to a bribery claim were so fanciful as to entitle the claimant to summary judgment.
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Perspective - Blog
High Court rejects Group Litigation Order in FSMA litigation as it would not further the Overriding Objective
In a recent decision in Edward Moon & Ors v Link Fund Solutions, Mr Justice Trower dismissed an application by two groups of claimants, declining to make the Group Litigation Order (GLO) sought.
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Perspective - Blog
No loss? No Quincecare claim … the Supreme Court judgment in Stanford International Bank v HSBC
The Supreme Court has handed down its judgment in Stanford International Bank Ltd v HSBC Bank plc, deciding that there was no pecuniary loss suffered by the Claimant and therefore no basis for a Quincecare claim.
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Perspective - Blog
No need for perfection: ISDA Master Agreement default notice still valid where some errors made
The High Court has decided that a default notice under an ISDA Master Agreement is still valid even if it does not contain wholly accurate statements of the amount of the payment not made, the confirmation of the trade, or the currency of the payment.
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Perspective - Publication
Banking and financial litigation markets update - Summer 2022
In this overview we look at some of the most important judgments in recent months in the area of banking and financial markets litigation.
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Profile
Perspective - Blog
Drones: don't fly out of bounds (legally)
Various commercial industries have already woken up to the myriad opportunities offered by drone technologies. Whilst the regulatory regime evolves, it is important that companies don’t fall foul of the law.
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Event
RPC @ London Tech Week 2024
We are delighted to announce that we will once again be hosting several in-person official fringe events around London Tech Week in June 2024.
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Perspective - Blog
Code of Conduct for Leasing of Retail Premises to take effect from 1 February 2024
Following from the passing of the Lease Agreements for Retail Premises Bill which mandates compliance with the Code of Conduct for Leasing of Retail Premises in Singapore ("Code") for qualifying leases of retail premises earlier this year, the Lease Agreements for Retail Premises Act ("Act') is expected to take effect from 1 February 2024.
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Press and Media
Wilko becomes 'yet another casualty' of tough economic conditions facing UK retailers
'Perfect storm' of rising interest rates, increased energy bills, supply chain issues and squeezed customer spending is hitting retailers hard
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Press and Media
Local authorities install 8,000 new EV chargers in past year – up just 7%
In the last year, around 8,000 public Electric Vehicle (EV) chargers were installed by local authorities in the UK, an increase of just 7% from 7,400 in the previous year , shows research by international law firm RPC.
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Perspective - Blog
Register of Overseas Entities – one month since the deadline and thousands still face penalties from failure to register
The Economic Crime (Transparency and Enforcement) Act 2022 ("the Act") enacted in March 2022 brought into force the register of overseas entities on 1 August 2022. Companies House holds and manages the new register which was introduced to provide greater transparency around UK land ownership. The transitional period ended on 31 January 2023, and as at 3 March 2023, 26,481 out of an estimated 32,440 have registered. Thousands of companies are still to register over a month on from the end of the transitional period, so we've turned our minds to consider the possible consequences of not registering, or delaying registering, as an overseas entity in accordance with the Act, including the potential for the Proceeds of Crime Act 2002 to apply.
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Press and Media
RPC expands real estate practice with the hire of Partner, Jon Ely
International law firm RPC announced today that commercial property lawyer Jon Ely has joined the firm in Bristol as a Partner in the real estate practice.
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Perspective - Blog
Register of Overseas Entities – Register now to keep transactions running smoothly
The Economic Crime (Transparency and Enforcement) Act 2022 ("the Act") has been enacted as part of the Government's drive to increase transparency in the ownership of UK land. Companies and other legal entities governed by the law of a country or territory outside of the UK which own land in the UK satisfying certain requirements, or wish to own such land, must now register information with Companies House. A new Register of Overseas Entities ("the ROE") has been created and certain details of the registered overseas entities and their beneficial owners are available to the public.
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Perspective - Blog
Business Rates – an unpopular tax imposed in unfortunate circumstances
It is almost trite to say that retailers have had a tricky time over the last 20 months. The combination of enforced closures, and more recent supply chain difficulties and staff shortages have left them reeling. On 1 July the business rates holiday ended and, although rates will be discounted by up to 2/3rds for smaller retailers until March 2022, most will come under increased pressures. It is unsurprising that many are calling for a complete overhaul of the business rates system.
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Perspective - Blog
What about the arrears?
On 4 August 2021 the Government published a policy statement clarifying their announcement made on 16 June 2021 in relation to the extension of the forfeiture moratorium, the ringfencing of COVID-19 commercial rent debts and the introduction of a binding arbitration process. The Government has also published its own response to the views of over 500 respondents to the call for evidence.
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Perspective - Blog
The Forfeiture Moratorium has been extended – But what about the arrears?
On 16 June 2021 the Government announced that it is drafting legislation to ringfence outstanding unpaid rent that has accrued during the pandemic in order to protect jobs and give businesses breathing space to recover.
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Perspective - Blog
The risks of going large (again)
In our July 2020 article , we looked at the case of Hart and Hart v Large, which concerned a survey undertaken by Mr Large for the Harts.
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