by 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 […]
Read moreby Leela|26 March 2020|Industry News
SUMMARY On 18 October 2019, the Financial Stability Board (the “FSB”) issued a note (the “Note”) regarding regulatory issues of stablecoins as part of its Group of 20 (“G20”) mandate. The Note highlights that the development of this type of cryptoasset in particular may alter the G20’s current assessment that cryptoassets do not pose a […]
Read moreby Leela|6 February 2020|Industry News
The case of Guest Services Worldwide Limited (“GSW”) v David Shelmerdine (“Mr S”) [2020], is a rare example of the English court looking at covenants in the specific context of shareholders’ agreements and doing so in light of their interaction with compulsory transfer provisions. This is also the first Court of Appeal decision which addresses […]
Read moreby Leela|29 January 2020|Industry News
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 the […]
Read moreby Leela|21 January 2020|Industry News
In November 2019, the UK Jurisdiction Taskforce (the “UKJT”) of the LawTech Delivery Panel of the Law Society issued a legal statement (the “Legal Statement”) on the status of cryptoassets and smart contracts under English and Welsh private law (“English Law”). The aim of the Legal Statement, rather than advising on how the law should […]
Read moreby Leela|15 January 2020|Industry News
The Court of Appeal’s judgement in Ark Shipping Company LLC and Silverburn Shipping (IOM) Ltd (The “Arctic”) [2019] sets out clearly the factors that the English courts will take into account in ascertaining whether a term is a condition or an innominate term in a contract. Depending on the classification of the term, varying rights are […]
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