Jurisdiction
by Leela|27 October 2020|Industry News
In Signature Living Hotel Ltd v Sulyok [2020] EWHC 257 (Ch), the question arose as to whether two deeds of guarantee were enforceable despite having been invalidly executed as a deed. FACTUAL BACKGROUND The applicant sought finance for its developments by way of investment loans from individuals for which corporate guarantees were given as security. […]
Read moreby Leela|19 October 2020|Industry News
The Brexit transition period will come to an end on 31 December 2020. Once the United Kingdom (“UK”) officially leaves the European Union (“EU”), the UK will become a third country under the law of the European Union. Under EU law, a third country is a country or territory that is not a member of […]
Read moreby Leela|16 October 2020|Industry News
Since 2017 the Financial Conduct Authority (the “FCA”) has been consulting on various proposals to reduce the potential for harm to investors from the liquidity mismatch in open-ended property funds (i.e. UK authorised funds that invest directly in property such as shops, warehouses or offices). In the FCA’s latest consultation paper (CP20/15) (the “Consultation”), it is […]
Read moreby Leela|14 October 2020|Industry News
The Commercial Court has granted declaratory relief concerning a bank’s rights under an interest rate hedging governed by the 1992 ISDA Master Agreement in BNP Paribas SA v Trattamento Rifiuti Metropolitani SPA [2020]. FACTUAL BACKGROUND In October 2008, Trattamento Rifiuti Metropoliani SpA (“TRM”), an Italian company specialising in waste treatment, entered into a financing agreement […]
Read moreby Leela|1 October 2020|Industry News
The new Investment Firms Prudential Regime will affect a significant number of investments firms in the United Kingdom requiring changes to key areas of their business. Want to understand the key points of the IFPR and how you should be preparing for its implementation, but time is a problem? We have got you covered with […]
Read moreby Leela|28 September 2020|Industry News
In Peninsula Securities Ltd v Dunnes Stores (Bangor) Ltd [2020] UKSC 36, the Supreme Court held that a restrictive covenant given by a landlord of a shopping centre to an anchor tenant did not engage the common law doctrine of restraint of trade. The “pre-existing freedom” test set down in Esso Petroleum Co Ltd v […]
Read moreby Leela|25 September 2020|Industry News
On August 18, 2020, the European Securities and Markets Authority (“ESMA”) published a letter (the ‘Letter”) addressed to the European Commission (“EC”) on its recommendation for the upcoming review of the Alternative Investment Fund Managers Directive (“AIFMD”). Many of the recommendations made also require consideration of material changes to the Undertakings for the Collective Investment […]
Read moreby Leela|28 August 2020|Industry News
In CFH Clearing Limited v. Merrill Lynch International [2019] EWHC 963 (Comm), the High Court has dealt with the issue of whether or not a bank was obliged to reprice or cancel foreign exchange spot trades entered into at a time of severe market disruption, in accordance with what was claimed to be “market practice”. […]
Read moreby Leela|25 August 2020|Industry News
SUMMARY The recent shift from office base time to working from home and enforced social distancing measures in the current coronavirus pandemic (“Covid-19”) has raised a number of issues for signing and executing key documents, particularly when a witness is required to be present. Following our article published in June 2020, on effective ways to […]
Read moreby Leela|20 August 2020|Industry News
In Marex Financial Ltd v Sevilleja [2020] UKSC 31, the Supreme Court has allowed the appeal and fundamentally restricted what has to-date been referred to as the principle against the recovery of reflective loss, effectively overturning a string of previous Court of Appeal and High Court decisions. Such was the significance of the case, and […]
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