Search results
1696 results ordered by
Injunction granted over stolen NFTs held on constructive trust
In a highly anticipated judgment, the Commercial Court in Lavinia Deborah Osbourne v (1) Persons Unknown (2) Ozone Networks Inc held that "there is at least a realistically arguable case" that non-fungible tokens ('NFTs') are to be treated as property in English Law.
Read moreMarex Strikes Again: Giles v Rhind exception to rule against reflective loss is "dead for all intents and purposes"
Despite it being almost two years since the Supreme Court judgment in Marex Financial Ltd v Sevilleja [2020] UKSC 31 considered the principle of reflective loss, the courts continue to grapple with its impacts and effects in relation to existing cases, many of which were stayed pending the appeal.
Read moreGleeson Privies: Can non-parties to an arbitration be estopped by it?
The recent judgment in PJSC National Bank Trust and others v Boris Mints and others(1) clarifies that arbitral proceedings can give rise to an issue estoppel or abuse of process claim against a non-party who is a "privy" of a party to the arbitration. However, the court observed that this would be exceptional given the contractual and confidential nature of arbitration.
Read moreAre you a "person discharging managerial responsibility"? High Court clarifies meaning of PDMRs under FSMA
In a recent interim decision in Allianz Global Investors GmbH and Ors v G4S Ltd (formerly G4S plc) [2022] EWHC 1081 (Ch), Mr Justice Miles clarified the scope of the expression "persons discharging managerial responsibility" ("PDMRs") for the purpose of establishing liability under s.90A and Schedule 10A of Financial Services and Markets Act 2000 ("FSMA").
Read moreIrrelevant to any issue in the proceedings? High Court orders complete re-review of party's redactions under disclosure pilot scheme
In JSC Commercial Bank Privatbank v Kolomoisky and other the English court determined that, having adopted an unduly narrow approach to relevance, the first defendant should conduct a complete re-review of each of over 6,000 WhatsApp messages in order to determine whether the redactions that had been applied could be maintained, and to provide further information about each redacted message.
Read moreIs the crypto market at the end of its Tether?
The crashing out of Terra has unleashed fears of unsettled investors, rising disputes and fraud exposure.
Read morePrivy Council decides that banks owe no Quincecare duty to a beneficial owner of monies in an account
A bank does not owe the beneficial owner of account monies any duty of care in negligence, including any Quincecare duty: this was the conclusion of the Privy Council in the Isle of Man case Royal Bank of Scotland International Ltd v JP SPC4 and another. The appeal concerned a fraud where the account holder had defrauded the beneficial owner of the monies, an investment fund, by paying funds out of the relevant bank accounts in contravention of a legitimate investment scheme.
Read moreCourt of Appeal says no to purely factual appeals
In the context of a dispute as to whether funding provided from a father to his son to purchase a property constituted a gift or a loan, the Court of Appeal re-articulated the very limited circumstances in which an appeal court may interfere with a trial judge's conclusions on primary facts. The trial judge must be "plainly wrong", in the sense that their conclusion was "rationally insupportable" in order to warrant such interference. The court also considered a list of features of purely factual appeals which are unlikely to succeed in the appeal court.
Read moreCourt of Appeal upholds the CAT's opt-out certification in Le Patourel v BT
Last week, the Court of Appeal delivered its judgment in Le Patourel v BT Group. BT's appeal against the Competition Appeal Tribunal's decision to grant a collective proceedings order (CPO) on an opt-out* basis was unsuccessful. In a claimant-friendly ruling, the Court of Appeal held that the CAT's opt-out determination was correct and that direct account crediting at distribution stage would be permissible.
Read moreObvious arithmetical error in damages calculation is sufficient for arbitral award to be set aside for procedural irregularity, finds High Court
The High Court has found that an "obvious arithmetical error" in the calculation of damages was a procedural irregularity under s 68 of the Arbitration Act 1996 (the Act) and set aside the relevant part of the award.
Read moreCourt of Appeal strikes out defences that funds' losses resulting from FX manipulation have been passed on to investors following redemption
In Allianz Global Investors GmbH & Ors v Barclays Bank PLC & Ors(1), the Court of Appeal allowed an appeal by the claimant funds (the Funds) and struck out defences by the Defendant banks (the Banks) that losses incurred by the Funds had been avoided or passed on upon redemption by their investors.
Read moreHong Kong – General adjournment of court proceedings ends with more guidance for remote hearings
Hong Kong's general adjournment of court proceedings ends with more guidance for remote hearings.
Read moreCommercial Court confirms limits of full and frank disclosure duty in arbitration enforcement action
What happens when a party makes a without notice application? How far should it go to meet its obligation of full and frank disclosure? The Commercial Court gave clear guidance on the limits of this duty when it dismissed the latest claim by the State of Libya that challenged General Dynamic's permission to enforce an arbitral award in General Dynamics United Kingdom Ltd v State of Libya.(1) This was one in a series of cases between the company and the North African country.
Read moreDisputes Yearbook 2022: Retail and Restructuring
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 moreDisputes Yearbook 2022: Civil Fraud
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 moreDisputes Yearbook 2022: Banking Litigation
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 moreDisputes Yearbook 2022: Technology 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 moreCourt of Appeal holds that Quincecare duty can arise in principle where customer gives instructions in authorised push payment fraud
The Court of Appeal has clarified in Philipp v Barclays Bank UK Plc [2022] EWCA Civ 318 that the Quincecare duty, which requires a bank to refrain from acting on a payment instruction and to make inquiries when it is on notice of a serious possibility of fraud, can arise for a bank even where it is the customer themselves giving instructions to pay money out of their account to a fraudster.
Read moreSupreme Court rules that solicitor's equitable lien was valid even though no proceedings were issued
An equitable lien allows solicitors involved in litigation to deduct their fees before paying compensation to their client and if the paying party deliberately bypasses the solicitor, they may be liable to pay any unrecoverable fees. The Supreme Court has re-confirmed that a solicitor benefits from this equitable lien when they are instructed to make a claim even if proceedings have not been issued and it is not anticipated that the claim will be disputed.
Read morePrivy Council widens law on freezing injunctions in "ground-breaking" exposition of the law
In Broad Idea International Ltd v Convoy Collateral Ltd / Convoy Collateral Ltd v Cho Kwai Chee [2021] UKPC 24, the Privy Council handed down a judgment which set new juridical boundaries for the law of freezing injunctions. Rejecting the long-established position in The Siskina, the panel of judges confirmed that a court's injunctive power extends to the grant of freezing orders where (i) there are no relevant domestic proceedings in prospect and (ii) the sole purpose of the order is to aid enforcement in foreign proceedings.
Read moreCourt of Appeal draws distinction between claims for recovery of tax and restitution for tax paid out fraudulently
In Skatteforvaltningen v Solo Capital Partners,(1) the Court of Appeal investigated in detail the operation of rule 3(1) of Dicey, Morris & Collins on the Conflict of Laws (edition 15) (Dicey rule 3), which provides that English courts do not have jurisdiction over actions for "the enforcement, either directly or indirectly, of a penal, revenue, or other public law of a foreign State". The Court decided that the Danish tax authority's claim did not fall within Dicey rule 3 as it concerned the restitution of monies misappropriated by fraud rather than enforcement of tax.
Read moreCompeting opt-out claims refused certification in CAT's FX decision
Since the first opt-out certification last summer in Merricks, a steady stream of collective claims has been certified by the CAT. There have now been four opt-out certifications with many more applications in the wings. Last week's FX decision is the CAT's first certification refusal following Merricks.
Read moreHong Kong – General adjournment of court proceedings given severity of “5th Wave” of COVID-19
Given the severity of the “5th Wave” of the pandemic in Hong Kong, on 4 March 2022 the judiciary announced another “general adjournment of proceedings”; this time to run from 7 March to 11 April 2022.
Read moreCan litigation privilege be claimed for exploratory correspondence with an expert before litigation is in prospect?
In a recent case, the Court decided that correspondence with an expert did not attract legal professional privilege. The expert's work had been intended to provide "ballast" for a claim in suspected mismanagement, but in fact the expert's investigation uncovered a potential alternative claim, which was quite distinct from the claim initially being investigated.
Read moreCourt of Appeal issues "clear message" that those who breach embargoes on draft judgments risk contempt proceedings
In only the third judgment ever to consider the issue, the Court of Appeal has issued a stark reminder that court users should take care to observe any embargo over a draft judgment or else face the possibility of proceedings for contempt of court.
Read moreCourt of Appeal holds that Quincecare duty can arise where the customer gives instructions in authorised push payment fraud
The Court of Appeal has allowed an appeal in relation to a bank's Quincecare duty and authorised push payment fraud, finding in favour of the customer who lost the bulk of her life savings.
Read moreWhere's the damage? High Court dismisses jurisdiction challenge in US$495 million claim
The High Court has dismissed UBS' challenge to jurisdiction in a ca. US$495 million claim – and in doing so set out useful guidance in terms of how the Court will determine "where the damage has occurred" in cases of economic loss. The judge looked for the most "natural analysis" in determining the manifestation of the loss, and broadly agreed that "the usual answer [in bad investment cases] will be that the loss occurs in, and at the place of, the bank account which was depleted."
Read moreRelying on the Defence to plead a new, time-barred claim – Court of Appeal provides clarity
The Court of Appeal has provided clarity on a claimant's ability to bring an otherwise time-barred claim in reliance on facts raised in the Defence. In the recent case of Mulalley & Co. Ltd v Martlet Homes Ltd [2022] EWCA Civ 32 the claimant was permitted to introduce a new claim, post-limitation, in response to what was potentially a full defence to the original Particulars of Claim.
Read moreHigh Court finds that a cryptocurrency exchange arrangement was not a trust
The High Court decided that no trust could arise where two parties had agreed to an exchange of cryptocurrencies (in essence a sale and repurchase agreement), as the essential economic reciprocity precluded the existence of any trust.
Read moreESG claims in the banking and financial markets Sector: will "greenwashing" claims soon be common in the UK?
Environmental, Social and Governance "ESG" funds are an attractive avenue for investors seeking responsible investment choices.
Read moreHide and Seek: Limitation Periods in Competition Law Damages Claims
The recent judgment in Gemalto v Infineon and Renesas put back into focus the duty of potential claimants in competition damages claims to reasonably investigate potential claims against cartelists when relevant facts emerge.
Read moreNo knowing receipt claim where equitable interest is destroyed: Byers v Saudi National Bank
The Court of Appeal has held that a claim in knowing receipt will fail if, at the moment of receipt, the beneficiary’s equitable proprietary interest is destroyed or overridden so that the recipient holds the property as beneficial owner.
Read moreCase closed: Court of Appeal has no inherent jurisdiction to review decision by single Court of Appeal Judge refusing permission to appeal if refusal is 'arguably wrong'
The Court of Appeal has confirmed that it has no inherent jurisdiction (outside Civil Procedure Rule.52.30 which applies in very limited circumstances) to reopen an appeal where a single judge has refused permission
Read moreHow aware were you? High Court refuses to strike out fraudulent misrepresentation claim in VW 'Dieselgate' emissions
In Crossley and others v Volkswagen Aktiengesellschaft and others(1) the High Court refused to strike out or summarily dismiss the fraudulent misrepresentation claim brought by more than 86,000 vehicle owners against Volkswagen ("VW").
Read moreHigh Court dismisses application for extension of limitation period on basis of fraud at summary judgment stage
In Libyan Investment Authority v Credit Suisse International & Ors ([2021] EWHC 2684 (Comm), the Commercial Court granted summary judgment dismissing the Libyan Investment Authority's (LIA's) claims against Credit Suisse International (Credit Suisse) and others on the grounds that they were time-barred.
Read moreLimitation Act 1980 s.32(1): whether a claimant could have discovered fraud with "reasonable diligence" extends to events prior to accrual of the cause of action
The High Court found that, when considering the postponement of the limitation period for the purposes of Section 32(1) of the Limitation Act 1980, the question of whether the claimant could have discovered the fraud with "reasonable diligence" extends to the period before the claimant suffered a loss.
Read moreIs your phone tracking you? Perhaps, but it is a mere witness to your whereabouts according to the Court of Appeal
In EUI Ltd v UK Vodaphone Ltd(1) a claimant insurance company sought a Norwich Pharmacal order for mobile phone records to prove that an insurance claim had been falsely made.
Read moreHigh Court clarifies new witness evidence rules and requirement for list of documents under Practice Direction 57AC
Only list the documents used to refresh the memory of the witness, use the statement of best practice as a checklist and follow the principles of the practice direction: these are some of the main points arising out of the decision in Mansion Place Ltd v Fox Industrial Services Ltd [2021] EWHC 2747 (TCC), the first decision to give substantial guidance on the new witness statement rules under Practice Direction (PD) 57 AC.
Read moreNo best endeavours order where documents are out of party's control
The High Court considered in Various Airfinance Leasing Companies & Anor v Saudi Arabian Airlines Corporation(1) whether a party could be obliged to seek disclosure from the personal mobile devices of its ex-employees (i) on the basis that documents on the phones were within the party's control; and (ii) alternatively, by using its best endeavours to seek disclosure. The application was dismissed as the court found that the documents were not within the "control" of the party as a matter of Saudi law and that there was no power to compel best endeavours to seek disclosure of documents outside a party's control.
Read moreRecent judgment on ad hoc admission of overseas counsel tells of wider COVID-19 story
Applications for ad hoc admission, pursuant to section 27(4) of the Ordinance, are fact dependent and the relevant legal principles are well-established.
Read moreUpdated P.R.I.M.E. Finance Arbitration Rules launched for 2022
P.R.I.M.E Finance, the Hague-based Panel of Recognised International Market Experts in Finance, has launched updated P.R.I.M.E Finance Arbitration Rules (the Rules), which come into force from 1 January 2022.
Read moreUpdated P.R.I.M.E. Finance Arbitration Rules launched for 2022
P.R.I.M.E Finance, the Hague-based Panel of Recognised International Market Experts in Finance, has launched updated P.R.I.M.E Finance Arbitration Rules (the Rules), which come into force from 1 January 2022.
Read moreSummary judgment application does not amount to submission to English jurisdiction
Does applying for summary judgment application before the determination of a parallel application for a stay, amount to a step in the proceedings that results submission to the jurisdiction?
Read moreSummary judgment application does not amount to submission to English jurisdiction
Does applying for summary judgment application before the determination of a parallel application for a stay, amount to a step in the proceedings that results submission to the jurisdiction?
Read moreWhat's up with disclosure? The pilot goes into a new phase from November
November ushers in a brand new phase for the disclosure pilot with several substantive amendments being made to the rules.
Read moreEnglish Commercial Court upholds the validity of swap contracts entered into by an Italian local authority
The Commercial Court has found that there was no limitation on the capacity of the Italian local authority Busto di Arsizio to enter into a valid swap contracts with Deutsche Bank.
Read moreOpening the gateway: Supreme Court favours wide interpretation for service out of the jurisdiction and clarifies rules of pleading foreign law
In order to sue a defendant who is outside the jurisdiction of the English courts, a claimant must show that damage was sustained in England.
Read moreCourt of Appeal holds that uncontroverted expert evidence can be rejected
The Court of Appeal has held that there is no rule that an uncontroverted expert report which complies with CPR PD 35 cannot be impugned in submissions and ultimately rejected by the judge.
Read moreStating the not-so-obvious: the importance of highlighting onerous standard contract terms and the perils of e-signing (Blu-Sky Solutions Limited v Be Caring Limited)
The importance of the duty to "fairly and reasonably" draw any particularly onerous clauses in standard conditions to the attention of customers has been highlighted by the High Court in Blu-Sky Solutions Limited v Be Caring Limited, where a party did not review standard terms when e-signing a contract.
Read moreHigh Court finds agency relationship and 'control' for purposes of disclosure where third party not authorised to sign contract for principal
In Quartz Assets LLC and another v Kestrel Coal Midco Pty Ltd [2021] EWHC 2675 (Comm), the High Court held that a third party authorised to conduct contractual negotiations on behalf of the Defendant, but not sign the contract, was acting as an agent, and that relevant documents which it had created were therefore in the Defendant's control and ought to be disclosed. The decision emphasises that the courts will consider substance over form when determining whether an agency relationship exists, and constitutes a reminder of the definition of 'control' for the purposes of disclosure.
Read moreStay connected and subscribe to our latest insights and views
Subscribe Here