Jurisdiction
by Caroline Sheldon|7 June 2019|Industry News
BACKGROUND As a consequence of the London Interbank Offered Rate (“LIBOR”) scandal in which several bankers at many major financial institutions manipulated LIBOR by reporting artificially low or high interest rates to benefit their derivative traders, undermining a major benchmark for interest rates and financial products, a Bank of England working group (the “BoE Working […]
Read moreby Leela|5 June 2019|Industry News
The High Court (the “Court”) recently found in favour of the Financial Conduct Authority (“FCA”) resolving that an unauthorised investment scheme must pay almost £1 million to the FCA to be re-distributed to investors as a result of several breaches by both the firm and its director. THE FACTS Following an application by the FCA, […]
Read moreby Leela|29 May 2019|Industry News
On 14 May 2019, the Court of Appeals ruled the case Times Travel (UK) Ltd. (“Times Travel”) v Pakistan International Airlines Corporation (“PIAC”) and decided that the economic pressure exerted by PIAC against Times Travel in that context was lawful and not considered as economic duress. BACKGROUND From 2008 to 2012 Times Travel and PIAC […]
Read moreby Leela|16 May 2019|Our News
After weeks of hard work and dedication, Cleveland & Co are pleased to officially announce the launch of our newly designed website and newsletter! Our new website provides a clear message of who we are and where our values lie when developing, maintaining and delivering our services to you. Our goal with this new look […]
Read moreby Leela|7 May 2019|Industry News
The execution of contracts is a task often overlooked. Even after maximum effort has been exerted to negotiate a deal, and draft a contract, a slip at the final hurdle could cost millions. Mistakes in executing a contract particularly a deed, can result in: an unenforceable contract; a non-binding contract owing to consideration not being […]
Read moreby Leela|1 May 2019|Industry News
The Court of Appeal (the “Court”) held that the word “shall” did not automatically create a contractual obligation. The word “shall” is regularly used in everyday commercial contracts to impose a contractual obligation on a party to perform or refrain from performing certain actions. Other commonly used phrases such as “ensure” and “procure” are also […]
Read moreby Leela|18 April 2019|Industry News
On 17 April 2019, the FCA released its business plan for 2019/20 covering some of the following cross-sector priorities: EU withdrawal and international engagements; firms’ culture and governance; operational resilience; financial crime & AML; and innovation and data ethics. Furthermore, their business plan also focuses on a number of sector specific priorities, including those of […]
Read moreby Leela|12 April 2019|Awards
We are thrilled to announce that we have been shortlisted for the Training Innovation Award for the Legal Week Innovation Awards 2019! The awards celebrate outstanding achievement and leading in innovation in the legal profession. Click here to read more: https://www.event.law.com/legalweek-InnovationAwards
Read moreby Leela|4 April 2019|Industry News
Our Managing Director, Emma, was recently quoted in an Ignites Europe article talking about UK firms falling behind on senior managers regime implementation and how some firms are parking SMCR to the Summer so they can focus on Brexit preparations. Click here to read the full article!
Read moreby Leela|28 March 2019|Industry News
Below we set out recent developments in the cryptoasset space that we think may be of interest. A NEED FOR REGULATION 2018 was a year of international scrutiny for digital currencies. As regulators around the globe wake up to the potential dangers posed by new technology (now falling under the umbrella term of “cryptoassets”), pressure […]
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