News & Insights

Our Thinking · Regulatory & Compliance · Europe

Suspicious activity reports inspection granted by the High Court

In Lonsdale v National Westminster Bank plc (October 2018), the court granted the claimant, Mr Lonsdale, the opportunity to inspect the suspicious activity reports (“SARs”) submitted by his bank, National Westminster Bank PLC (“NatWest”) to the National Crime Agency (the “NCA”) relating to his accounts held with the Bank. THE FACTS Mr Lonsdale held seven accounts […]

Emma Cleveland·17 January 2019

Our Thinking · Commercial & Corporate · Europe

Excluding misrepresentation and entire agreement clauses

The high court recently considered the interpretation of an entire agreement clause and excluding claims for misrepresentation in the recent judgement of Fawaz Al-Hasawi (“Mr Al-Hawawi”) and Nottingham Forest Football Club (the “Club”) & Others (2018). An entire agreement clause is a standard term used in contracts to clarify and limit what has been agreed to particular contractual documents […]

Emma Cleveland·10 January 2019

Our Thinking · Regulatory & Compliance · Europe

Brexit update: The FCA’s temporary permission regime

HM Treasury has published a number of draft Statutory Instruments (“the Draft Sis”) including a Temporary Permissions Regime (“TPR“) as a temporary measure to replace the passporting regime in Schedule 3 and 4 of the Financial Services and Markets Act 2000 (“FSMA”) in the event of a no-deal Brexit. The legislative framework for the TPR […]

Emma Cleveland·8 January 2019

Our Thinking · Investments & Capital Markets · Commercial & Corporate · Europe

Penalty clauses

In the recent case of Holyoake and Candy (June 2018), the Court of Justice clarified the interpretation of the penalty rule, and how careful drafting can take a clause outside the scope of the rule. THE PENALTY RULE AND ITS POTENTIAL WIDE APPLICATION TO CONTRACTS The penalty rule imposes that clauses that are “penalties” are unenforceable […]

Emma Cleveland·3 January 2019

Our Thinking · Commercial & Corporate · Europe

Implied contract claim

In Standish (“Standish”) and RBS (“RBS”) [2018], the High Court ruled that an alleged overarching agreement between the parties could not arise by implication. THE FACTS Standish were shareholders in a company which suffered financial difficulties, who were subsequently referred to RBS’s restructuring group, and subject to a process whereby the majority of its shares were transferred […]

Emma Cleveland·18 December 2018

Our Thinking · Regulatory & Compliance · Europe

Delivering documents to a regulator – a question of legal privilege

In the recent case ofThe Financial Reporting Council Ltd and Sports Direct International Plc [2018], the High Court stated that, when responding to a regulator investigating into the conduct of a regulated entity, the client of a regulated entity could not refuse to deliver requested documentation on the grounds of legal privilege. In this circumstance, […]

Emma Cleveland·12 December 2018

Awards & Press · Europe

UK: C&Co shortlisted for Modern Law Award 2019

We are thrilled to announce we’ve been shortlisted for ABS of the year at the Modern Law Awards 2019!

Emma Cleveland·12 December 2018

Awards & Press · Europe

UK: C&Co recognised for gender diversity in the Women in Investment Awards 2018

We are thrilled to announce that we were highly commended at the recent Women in Investment Awards 2018 for our contribution to gender diversity. The judges said: “This company should be applauded for welcoming employees from all backgrounds and also encouraging flexi-working and part-time applicants, as a result 88% workforce are female.” Please click here for full […]

Emma Cleveland·4 December 2018

Our Thinking · Commercial & Corporate · Europe

Effect and interpretation of non-assignment clauses

The case of First Abu Dhabi Oil Bank (“First Abu Dhabi”) and BP Oil (“BP”) (2018) examines the relationship between a non-assignment clause without the other party’s consent and a warranty in a receivable financing contract specifying that one of the parties is not prohibited from disposing of the receivable. The case raises issues in relation […]

Emma Cleveland·28 November 2018

Our Thinking · Commercial & Corporate · Europe

Fiduciary duties

In the recent case of Keystone (“Keystone”) and another vs Parr and other (September 2018), the Court found that a director was in breach of his fiduciary duty when he sold his shares to the other shareholders, and then left to set up a competitor company. Furthermore, his actions triggered the bad leaver provisions in the […]

Emma Cleveland·22 November 2018