Jurisdiction
by 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 […]
Read moreby Leela|5 August 2020|Industry News
On 26 June 2020, the Corporate Insolvency and Governance Act (the “Act”) entered into force. The Act introduces some very significant reforms to the restructuring and insolvency framework in the UK, and also deals with immediate issues caused by the Covid-19 pandemic. The reforms include both permanent changes such as to moratoriums and temporary measures […]
Read moreby Leela|16 June 2020|Industry News
The case of Financial Services (Europe) Limited v FCA[1] proves that it might be worth challenging the FCA and its supervisory powers, if your facts are right. The Upper Tribunal is an independent judicial body that hears the matter from scratch and develops its own view of them (and, in disciplinary cases, as to the […]
Read moreby Leela|8 June 2020|Industry News
There are well-established principles that generally need to be applied where there is a mistake of some kind in a document which needs to be construed. However, the position is more complicated if the document is a public document. Instances involving various types of document (such as an injunction, a receivership order and a charge […]
Read moreby Leela|4 June 2020|Industry News
SUMMARY Social distancing measures in the current coronavirus pandemic (the “COVID-19”) have posed some interesting questions on how to effectively execute contracts in a way that ensures their validity, whilst keeping the parties safe and in compliance with the Government’s current COVID-19 measures. As such, using electronic means to execute contracts may be a practical […]
Read moreby Leela|26 May 2020|Industry News
A recent decision of the English Commercial Court (the “Court”) – Alfred Street Properties Limited (formerly known as Killultagh Estets Limited) v National Asset Management Agency [2020] EWCK 397 – has given guidance on the interpretation of the International Swaps and Derivatives Association (“ISDA”) 1992 Master Agreement (the “ISDA Master Agreement”) and of the 2000 […]
Read moreby Leela|29 April 2020|Industry News
Since the end of 2019, the spread of coronavirus and the disease created by it (the “COVID-19”) have generated fear in the population and are directly affecting the economy worldwide. In an attempt to avoid closing down and to reduce their losses, some businesses are relying on law and contracts. In the sphere of the […]
Read moreby Leela|17 April 2020|Industry News
On 07 April 2020 the Financial Conduct Authority (the “FCA”) set out the key areas of work it will undertake not only for the this financial year but also for the next three years with the publication of its business plan for 2020/21 (the “Business Plan”). This year’s Business Plan focuses on the aftermath of […]
Read moreby Leela|3 April 2020|Industry News
SUMMARY The Competition Markets Authority (“CMA”) has published guidance stating that it will focus on protecting UK consumers from the adverse consequences of the COVID-19 pandemic for the months following from 25 March 2020. The guidance set out details of the CMA’s approach to the prioritisation of its work and how it will apply the […]
Read moreby Leela|31 March 2020|Industry News
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 […]
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