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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.
Read moreSummary 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'.
Read moreSupreme 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.
Read moreMerchants 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
Read moreBinance 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.
Read moreHigh 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.
Read moreConsidering 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.
Read moreCourt 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.
Read moreHigh 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.
Read moreNo 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.
Read moreNo 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.
Read moreThe High Court continues interim anti-harassment injunction
At a return date hearing on 12 July 2024, Aidan Eardley KC (sitting as a Deputy High Court Judge) continued until trial or further order an anti-harassment injunction granted to prevent the Defendant from, amongst other things, approaching or contacting the Claimant.
Read moreThe Supreme Court clarifies the law on the recovery of damages for non-pecuniary damage arising out of a maliciously false statement
The Claimant was an employee of the second defendant, LCA, a recruitment agency owned and operated by the first defendant. After leaving LCA, the Claimant was employed by another recruitment agency and began targeting LCA's clients. LCA's owner told two third parties, one of whom was the Claimant’s new line manager and the other a client of LCA, that by doing this the Claimant was in breach of her contract of employment with LCA. In fact, there was no term of that contract (as the owner of LCA knew) which prohibited the claimant from soliciting business from LCA’s clients.
Read moreThe Model Anti-SLAPP Law: an overview
Following the Government's response to the SLAPP consultation in the summer, the UK Anti-SLAPP coalition (a working group that includes English PEN, the Foreign Policy Centre and Index on Censorship, "the Coalition") has this week published a model Anti-SLAPP law, which has been endorsed by a collection of free speech and anti-corruption organisations, journalists, editors and lawyers.
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 moreEBA encourages banks to pool their resources for cloud audits
The EBA has set out that banks are no longer required to provide their auditors (or themselves) with an independent right to audit their cloud service providers.
Read moreParliamentary 'wash up' – which Bills made it through?
On 22 May 2024, Prime Minister Rishi Sunak announced that a General Election will take place on 4 July 2024. Parliament was then prorogued on 24 May 2024 which allowed a mere 2 days for 'wash up' - the process by which outstanding bills may be rushed through the parliamentary process.
Read moreOfcom's 'Roadmap to Regulation' underway with its consultation on illegal harms duties under the Online Safety Act
In November, Ofcom, as new online safety regulator, published the first of four major consultations under the Online Safety Act ("OSA"), which sets out its proposals for how "user-to-user" ("U2U") services (essentially any online website or app that allows users to interact with each other) and online search services (i.e. Google, Bing and similar) should approach their illegal content duties under the new legislation. The consultation provides guidance in a number of areas including governance, content moderation, reporting and complaints mechanisms, terms of service, supporting child users, and user empowerment.
Read moreThe Online Safety Bill is set to become law
The Online Safety Bill will shortly become law in the UK as soon as it receives Royal Assent. The legislation will introduce a new regulatory regime for online platforms and search engines which target the UK, imposing wide-ranging obligations on in-scope services with serious consequences for non-compliance.
Read moreCyber_Bytes - Issue 34
We hope you enjoy this latest edition of Cyber_Bytes, our biweekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 33
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 32
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 31
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 30
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 29
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 28
Welcome to latest edition of Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 27
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 26
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 25
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 24
Welcome to Cyber_Bytes, our bi-weekly round up of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 23
Welcome to Cyber_Bytes, a round up of key developments in cyber, tech and evolving risks over the last two weeks.
Read moreCyber_Bytes - Issue 22
Welcome to the latest edition of Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 21
Welcome to the latest edition of Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 19
Welcome to Cyber_Bytes, a round up of key developments in cyber, tech and evolving risks over the last two weeks.
Read moreCyber bytes - Issue 17
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber bytes - Issue 16
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber bytes - Issue 15
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber bytes - Issue 14
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber Bytes - Issue 13
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber Bytes - Issue 12
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 10
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber Bytes - Issue 11
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 8 2020
Welcome to the eighth 2020 edition of Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 9
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 7 2020
Welcome to the seventh 2020 edition of Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCyber_Bytes - Issue 6 2020
Welcome to Cyber_Bytes, a round up of key developments in cyber, tech and evolving risks over the first month of 2020.
Read moreCyber_Bytes - Issue 5 2019
Welcome to Cyber_Bytes, a bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read morePushing back on APP scams
An Authorised Push Payment (APP) is where a payer instructs their payment service provider, such as their bank, to send money from their account to another. These payments are usually made through the Faster Payment Service or CHAPS.
Read moreBrevan Howard's gagging order against Reuters upheld by the Court of Appeal in breach of confidence case
The news agency, Reuters, has lost its appeal against an injunction, which prevented it from reporting leaked confidential and commercially sensitive information concerning a leading global alternative asset manager, Brevan Howard Asset Management LLP.
Read more18 months on - the ICO reflects on Google Spain
The ICO has recently blogged on the cases it has received in the year and a half since the Google Spain decision last May.
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