Jurisdiction

Europe

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

by Emma Cleveland|4 December 2018|Awards

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 […]

Effect and interpretation of non-assignment clauses

by Emma Cleveland|28 November 2018|Industry News

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 […]

Fiduciary duties

by Emma Cleveland|22 November 2018|Industry News

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 […]

Court upholds drag along provisions

by Emma Cleveland|20 November 2018|Industry News

In Cunningham and Resourceful Land Ltd and others (August 2018) the High Court upheld a drag along provision, confirming the validity of a shareholders’ sale of his shares in the company. Where several people invest in a company, they often put in place a shareholder’s agreement to regulate their relationship. Provided that such an agreement is drafted […]

Bad leaver provisions

by Emma Cleveland|14 November 2018|Industry News

In the recent case of Signia Wealth(“Signia”) and Vector Trustees Ltd(“Vector”) [2018], the High Court of Justice ruled that Signia’s bad leaver provision did not breach the penalty doctrine, and was therefore enforceable. THE FACTS The case originated when Ms Dauriac, managing director of Signia, following an already deteriorated relationship with the founder of Signia, […]

UK Cryptoassets taskforce publishes final report

by Emma Cleveland|13 November 2018|Industry News

Earlier this week, the UK’s Cryptoassets Taskforce (consisting of HM Treasury, the Financial Conduct Authority (the “FCA”) and the Bank of England) (the “Taskforce”) published its final report, providing an overview of cryptoassets and underlying technology as well as an assessment of the risks and benefits of such assets and the path forward for UK […]

Hedge funds and leveraging: Court finds in favour of investment manager

by Emma Cleveland|6 November 2018|Industry News

The Privy Council recently upheld a decision that a hedge fund manager had not acted dishonestly or improperly when it failed to accurately describe to its client, the structure of its fund, and the way in which their client’s investments were being leveraged (Al Sadik v Investcor Bank [2018](“Investcorp”). FACTS In March 2018, at the […]

The Law Commission Consultation Paper: Electronic execution of documents

by Emma Cleveland|31 October 2018|Industry News

A project to enhance the electronic execution of documents came out of the Law Commission’s 13th Programme of Law Reform in January 2018. Subsequently, a consultation paper was published on 21 August 2018 and the Law Commission is requesting feedback on certain proposals in relation to the use of electronic signatures and deeds (the “Consultation”). […]

FCA: the cycle of deregulation, crisis and regulation

by Emma Cleveland|30 October 2018|Industry News

On 2 October 2018, the Financial Conduct Authority’s (“FCA”) Chair, Charles Randell, delivered a speech on the damaging cycle of deregulation, crisis and regulation (the “Speech”) at the annual Association for Financial Markets in Europe (“AFME”) conference, and ultimately warned against the dangers of deregulation. SUMMARY The FCA recognises how damaging the cycle of deregulation, crisis […]

ESMA updates Q&A on MAR

by Emma Cleveland|18 October 2018|Industry News

On 1 November 2018, the European Securities and Markets Authority (“ESMA”) added three new questions and answers to its Q&A (the “Q&A”) on the Market Abuse Regulation (“MAR”). The purpose of the Q&A is to provide clarity on the practical application of MAR with the aim of promoting a common supervisory approach. The latest updates […]