News & Insights

Our Thinking · Investments & Capital Markets · Europe

LIBOR: ISDA consults on pre-cessation triggers – and extends deadline for consultation

The London Interbank Offered Rate (“LIBOR”) is an interest-rate average calculated from estimates submitted by the leading banks in London, used in lending between banks on the London interbank market. Over time, LIBOR has been used as a reference for setting the interest rate on other loans and a myriad of other financial products. Following […]

Leela31 March 2020

Our Thinking · Regulatory & Compliance · Europe

Regulatory issues surrounding stablecoins and their potential impact on global financial stability

SUMMARY On 18 October 2019, the Financial Stability Board (the “FSB”) issued a note (the “Note”) regarding regulatory issues of stablecoins as part of its Group of 20 (“G20”) mandate. The Note highlights that the development of this type of cryptoasset in particular may alter the G20’s current assessment that cryptoassets do not pose a […]

Leela26 March 2020

Our Thinking · Commercial & Corporate · Europe

Court of appeal decides on non compete clause in shareholder agreements

The case of Guest Services Worldwide Limited (“GSW”) v David Shelmerdine (“Mr S”) [2020], is a rare example of the English court looking at covenants in the specific context of shareholders’ agreements and doing so in light of their interaction with compulsory transfer provisions. This is also the first Court of Appeal decision which addresses […]

Leela6 February 2020

Our Thinking · Investments & Capital Markets · Regulatory & Compliance · Europe

LIBOR: FCA issues guidance on discontinuation; ISDA discusses pre-cessation triggers

London Interbank Offered Rate (“LIBOR”) is an interest-rate average calculated from estimates submitted by the leading banks in London, used in lending between banks on the London interbank market. Over time, LIBOR has been used as a reference for setting the interest rate on other loans and a myriad of other financial products. Following the […]

Leela29 January 2020

Our Thinking · Commercial & Corporate · Europe

UK Jurisdiction Taskforce confirms legal status of cryptoassets and smart contracts

In November 2019, the UK Jurisdiction Taskforce (the “UKJT”) of the LawTech Delivery Panel of the Law Society issued a legal statement (the “Legal Statement”) on the status of cryptoassets and smart contracts under English and Welsh private law (“English Law”). The aim of the Legal Statement, rather than advising on how the law should […]

Leela21 January 2020

Our Thinking · Commercial & Corporate · Europe

In what situations can you terminate for breach of contract?

The Court of Appeal’s judgement in Ark Shipping Company LLC and Silverburn Shipping (IOM) Ltd (The “Arctic”) [2019] sets out clearly the factors that the English courts will take into account in ascertaining whether a term is a condition or an innominate term in a contract. Depending on the classification of the term, varying rights are […]

Leela15 January 2020

Our Thinking · Regulatory & Compliance · Europe

FCA’S new supervisory role for crypto businesses from 10 January 2020

From 10 January 2020 UK cryptoasset businesses carrying on activities within the scope of the UK ML Regulation will need to register with the FCA. Are you ready? Read our latest article for details on the regulatory changes, and what they might mean for your business.

Leela8 January 2020

Our Thinking · Europe

Supreme Court interprets exclusive jurisdiction provisions narrowly

On 29 July 2019, the Supreme Court handed down its decision in Akçil and others v Koza Ltd and another [2019], which overturned the decision of the Court of Appeal [2017], with regard to the interpretation of the exclusive company law jurisdictional provisions in Article 24(2) of the Regulation (EU) 1215/2012 (the “Brussels I (Recast) Regulation”) The judgment […]

Leela19 December 2019

Our Thinking · Regulatory & Compliance

Key changes to The UK Stewardship Code

The new UK Stewardship Code has been published and takes effect from 1 January 2020… Are you signing up? If so, make sure you know about the updated principles and your reporting obligations, which are covered in our latest article.

Leela13 December 2019

Our Thinking · Regulatory & Compliance

Brexit Update: The Revised Withdrawal Agreement

After three years of negotiations, three rejections of the withdrawal agreement negotiated by Ms. Theresa May with the EU and one request to extend the negotiation period, the UK is somehow nowhere closer to agreeing the terms of its withdrawal from the EU. Approval for the revised withdrawal agreement which was put forward by Mr […]

Leela13 December 2019

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