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Las Vegas of the East – Navigating Challenges and Embracing Economic Diversification in Macau
Read moreDigital nomads: the world is your oyster?
Imagine seeing the world while you work, without having to take time off. That's quite the dream, isn't it?
Read moreTrainees take on 2024
2023 was a year of change, with the Coronation of King Charles III, COVID-19 finally losing its pandemic status and continued economic and political instability across the globe.
Read moreRumble in the concrete jungle – London as a disputes powerhouse
"London is the most attractive centre for commercial litigation and international arbitration" according to the Law Society's International Data Insights Report 2023.
Read moreAdvertising Video on Demand – To AVOD or avoid?
As most movie and TV streamers can attest to, Subscription Video on Demand services (or 'SVODs') continue to multiply. No need to put the kettle on while the adverts play; SVODs offer consumers an instant, ad-free escape to worlds unknown at just a click of a button.
Read moreListing reforms in the UK: to market, to market?
The Financial Conduct Authority is proposing wide ranging reforms to the UK's Listings Rules to entice more high growth companies to list in London
Read moreNext-gen AI: Disrupting your business?
It’s no secret the tech sector is going through a tough time at the moment with the large swathes of layoffs seen in 2022 continuing into 2023. So much so that bespoke trackers now actively monitor the 167,004 (and counting) tech jobs already lost this year.
Read moreTrainees take on 2023
2022 was a year of extremes, with focus on our longest-reigning Monarch alongside our shortest-serving Prime Minister (and a lettuce).
Read moreTGI…Thursday?
What would you say if I offered you 100% of your salary and you only had to work four days a week? For the employees of 70 companies across the UK, this was their reality for the second half of 2022.
Read moreMoney Covered: The Week That Was – 10 May
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 3 May
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week That Was – 26 April
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week that Was - 19 April
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week that Was - 25 August
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week that Was - 04 August
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreFix up, look sharp: FRC update
What's the latest on fixed recoverable costs in professional negligence claims?
Read moreMoney Covered: The Week that Was - 28 July
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreMoney Covered: The Week that Was - 07 July
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreLead market regulator's lawsuit includes professional advisers
In another significant development in the Securities and Futures Commission's (SFC) efforts to combat market misconduct-type activity involving listed shares in Hong Kong, the lead market regulator has commenced civil proceedings under Section 213 of the Securities and Futures Ordinance (Cap 571) in respect of China Forestry Holdings Co Ltd (in official liquidation). What makes the proceedings noteworthy is that besides naming the company and two of its directors as co-defendants, the regulator's civil complaint also names two co-sponsors and the auditor involved with the company's initial public offering (IPO) in 2009.(1)
Read moreDisputes Yearbook 2021: Retail disputes
As part of the acclaimed Disputes Yearbook, Legal Business interviewed members of our disputes team exploring the litigation landscape and what RPC brings to the table.
Read moreWhistle-blowing on illegal cartels drops 70% in 5 years
Competition and Markets Authority (CMA) recently increased award to £250,000 Calls to the CMA hotline have plummeted from 1,442 in 2017 to 427 in 2022
Read moreConstruction disciplinary trends analysis #3: fraud and dishonesty
This article is the third instalment in our mini-series analysing trends in disciplinary decisions involving construction professionals, with insight from our specialist disciplinary team.
Read moreConstruction disciplinary trends analysis #2: engagement letters – worth more than the paper they're written on!
This article is the second in our mini-series analysing trends in disciplinary decisions involving construction professionals, with insight from our specialist disciplinary team.
Read moreConstruction disciplinary trends analysis #1: continuing professional development
This article is the first in our mini-series analysing trends in disciplinary decisions involving construction professionals, with insight from our specialist disciplinary team.
Read moreIs the FCA to blame for BSPS? MPs seem to think so
The House of Commons Public Accounts Committee (PAC) yesterday published a report entitled "Investigation into the British Steel Pension Scheme". The report makes a number of recommendations in light of its investigations in to the FCA's conduct and regulatory oversight at the time of the issues arising from the British Steel Pension Scheme (BSPS) and in particular the decision by 7,834 members to transfer to a personal pension arrangement. The report is heavily critical of the FCA's handling of BSPS and its regulatory oversight of the defined benefit transfer market generally. Given the request in the report for an update from the FCA on its progress on the various recommendations and conclusions in 6 months' time, we wait to see how the FCA reacts to yet further criticism of its handling of BSPS at a time when it is reviewing responses to the consumer redress scheme consultation.
Read moreSIPPs and FOS - does the Rowanmoor decision change anything?
Last week FOS published a decision it reached last year in a complaint against a SIPP provider involving advised sales. The FOS upheld the complaint, finding that the SIPP provider should have rejected business from the regulated financial adviser, CIB Life and Pensions Limited (CIB), given, broadly, red flags available to the SIPP provider with respect to the operation of CIB's business model including that CIB was not advising on the ultimate investment within the SIPP and as a result such introductions involved a significant risk of consumer detriment. The decision has received quite a bit of press attention - but has it moved the dial for SIPP complaints before FOS or not?
Read moreThe Future of Insolvency Regulation
On 21 December 2021 the Government launched a consultation into the future of insolvency regulation. The changes proposed in the consultation document will have a wide ranging impact on the insolvency profession (and its insurers) with the proposals including: the direct regulation of insolvency firms, the introduction of a single regulatory body with powers to order compensation against insolvency practitioners and firms, a new additional requirements regime, changes to the bond regime and a public register of insolvency practitioners and firms. Many of the changes proposed require primary legislation and so it may be some time before the changes to take effect (if adopted). But there does appear to be some wind behind these proposals given they follow on from the Call for Evidence in 2019 and a more general focus on insolvency issues in the wake of the Covid-19 pandemic.
Read moreCAT Collective Proceedings - Summer 2024 update
Developments in the UK’s competition collective proceedings regime continue apace with new claims recently issued in the Competition Appeal Tribunal (CAT).
Read moreThe CAT's new approach: I can't afford a carriage (dispute)
Since the collective proceedings regime in the UK's Competition Appeal Tribunal (CAT) kicked off, a number of carriage disputes have arisen. So-called 'carriage disputes' arise when there are two or more competing proposed class representatives (PCRs) seeking certification (and therefore 'carriage') of overlapping class actions.
Read moreWhat 6 key challenges will insurers face in 2024?
Climate change, Artificial Intelligence and ESG top this year's predictions in latest edition of Annual insurance review from international law firm RPC
Read moreProcedure damages & costs
In this chapter of our Annual Insurance Review 2024, we look at the main developments in 2023 and expected issues in 2024 for Procedure damages & costs.
Read moreProduct liability
In this chapter of our Annual Insurance Review 2024, we look at the main developments in 2023 and expected issues in 2024 for Product liability.
Read moreAnnual Insurance Review 2023
Hello and welcome to RPC's Annual Insurance Review – a look back at the events that shaped the insurance market in 2022 and a look forward towards what to expect in 2023.
Read moreWhat are the 8 key concerns insurers will face in 2023?
Annual Insurance Review from international law firm RPC identifies ESG risks, climate change and cyber-attacks as top challenges.
Read moreFalse statements in a bill of lading and the indemnities to a master
This Article discusses the recent decision of the English Court of Appeal in the case of “TAI PRIZE” [2021] EWCA Civ 87 on the industry practice of Masters signing bills of lading containing statements about the condition of the cargo, the threshold of the Master's inspection, whether they amount to representations and the consequences of the statements turning out to be false.
Read moreMisrepresentation, inducement, reservation of rights, affirmation of contract, rescission and damages in lieu of rescission
This Article discusses the recent decision of the English High Court in the case of SK Shipping Europe LLC v (3) Capital VLCC 3 Corp (5) Capital Maritime and Trading Corp [2020] EWHC 3448 (COMM) and the lessons learnt from that case and its application under English law and Singapore law.
Read moreLOIs and liability for inducement of breach of contract
A recent Court of Appeal ruling highlights the risk to traders and, in particular, to their officers and employees personally, of giving/arranging a letter of indemnity to a carrier against liability arising out of delivery of goods without presentation of the bills of lading. This blog examines the risk of such arrangements giving rise to a liability on their part under the tort of procuring a breach of contract.
Read moreLetters of Credit under commodity contracts – keep the focus
This blog takes a look at the issues concerning the timing of the provision of letters of credit under commodity contracts and the importance, from both the buyer's and seller's perspective, of keeping an "eye on the ball".
Read moreArbitration awards and fraud revisited
The English Court of Appeal has rejected a further attempt by the buyers of goods to set aside enforcement of a CIETAC arbitration award on grounds of fraud.
Read moreSabotage at sea - The LADY M
In The LADY M, the English Commercial Court held that shipowners could rely on the Hague-Visby Rules fire defence even when the fire was set by the crew (without owners’ knowledge). In so doing, the admiralty concept of barratry received rare consideration by the Courts.
Read moreCommodity specification breach – can I reject?
A common question which arises in day to day commodity trading is whether a buyer can reject goods which do not meet the specifications set out in the contract. This blog discusses the factors which commonly come into play in determining that question.
Read moreLiability for commencement of approach voyage under voyage charters - absolute?
A recent judgment of the Commercial Court examines a novel point in respect of the obligation on an owner under a voyage charter to get the vessel to the load port when the charter contains a cancelling date but no expected readiness to load date or load port ETA.
Read moreShow me the money – turning liens into cash
Most charterparties give owners the right to lien cargo for unpaid hire or freight. However, it may be necessary to sell the cargo in order to obtain payment. The English Commercial Court has recently considered the circumstances in which it would be prepared to order the sale of cargo held under a shipowners' lien.
Read moreOdd but clear contract lines not to be disturbed by the Court
In a recent Commercial Court decision on the construction of a tailored demurrage provision in a charterparty, the Court refused to rewrite the parties agreement regarding demurrage merely because "it might be thought odd".
Read moreKnow your (package) limitations
High Court decision clarifying application of the Hague-Visby Rules (HVR) to sea waybills and package limitation for containerised goods
Read moreI see no ships – condition precedents under FOB contracts
A recent judgment of the Commercial Court suggests that a FOB buyer can be excused from nominating a vessel by an unaccepted renunciation of contract by a seller. This blog questions the court's approach in this case and examines the basic principles engaged.
Read morePayment against letters of indemnity – is it safe?
In the commodity trading world, it is traditional for payment to be made by the buyer against the presentation by the seller of certain shipping documents including bills of lading. That is the case whether payment is to be made under a letter of credit (LC) or by direct tender of documents to the buyer. However, a common practice has developed, particularly in the oil trade, for parties to agree in their contracts that the seller may, instead of presenting shipping documents to trigger payment, present a letter of indemnity instead. But there are risks to the buyer in paying against such letters of indemnity.
Read more"NEW FLAMENCO" – Supreme Court reverses Court of Appeal
In a shock decision, the Supreme Court has allowed shipowners' appeal in the "NEW FLAMENCO". The Supreme Court held that the sale of the ship following the repudiation of the charterparty was not an act in mitigation, and was not relevant to the calculation of damages for breach of contract.
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