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Commercial Disputes

Blog

Game theory and the art of litigation settlement

Published on 06 April 2018. By Christopher Whitehouse, Associate and Simon Hart, Partner

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This article is the first in a series targeted at litigators that consider the issue of settlement in litigation through a mathematical lens.

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Property Alliance Group Limited v The Royal Bank of Scotland plc ā€“ a pyrrhic victory?

Published on 04 April 2018. By Parham Kouchikali, Partner and Joe Cresswell, Associate

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The Court of Appeal handed down its much anticipated judgment on the misselling and LIBOR manipulation test case in March. Whilst the appeal was dismissed in full, the Court of Appeal's decision clarified a number of aspects of the law in this area and, in particular, the circumstances in which an implied representation in respect of LIBOR would arise.

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SFC requires ICO to be withdrawn from Hong Kong public

Published on 20 March 2018. By Jonathan Crompton, Partner and Jessica Wong, Associate

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On 19 March 2018 the Securities and Futures Commission (SFC) announced that it had halted an initial coin offering (ICO) to the Hong Kong public by Black Cell Technology Limited (Black Cell).

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The High Court confirms the availability of Bankers Trust orders to trustee Claimants seeking to recover misappropriated assets

Published on 16 March 2018. By Jonathan Cary, Partner

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The decision of the High Court in Miles Smith Broking Limited ā€“vā€“ Barclays Bank PLC has confirmed for the first time the availability of the commonly encountered Bankers Trust order to trustee Claimants of stolen/misappropriated property, highlighting the flexibility of the Court's equitable jurisdiction when presented with new situations. The decision also serves as a neat illustration of the Court's willingness to grant Norwich Pharmacal relief to facilitate the recovery of unlawfully dissipated assets and the types of complimentary interim remedies available to Claimants for that purpose.

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Blog

Litigation privilege: whose privilege?

Published on 15 March 2018. By Davina Given, Partner and Christopher Whitehouse, Associate

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The claimants, companies in the corporate group of the mining company MMG, applied to inspect certain documents created in foreign proceedings over which the defendants, companies belonging to the mining company Glencore, asserted litigation privilege. Although Glencore was not a party to those proceedings it did control them. Glencore unsuccessfully argued that this was a permitted exception to the general principle that a party cannot to claim litigation privilege out of proceedings to which it was not a party.

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Sharp v Blank and others [2017] EWHC 3390 (Ch)

Published on 07 March 2018. By Elizabeth Wiggin, Associate and Andy McGregor, Partner

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The Court considered the Defendants' application for approval of their revised cost budget on the basis that there had been significant developments in the litigation.

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Blog

The perils of using disclosed documents for a collateral purpose

Published on 07 March 2018. By Victoria Rogers, Associate and Geraldine Elliott, Partner

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In Grosvenor Chemicals Ltd v UPL Europe Ltd disclosed documents were used by the UPL for a collateral purpose in breach of Civil Procedure Rule 31.22. Grosvenor applied to court under CPR 81.14(1) for permission to bring committal proceedings against the UPL and their law firm.

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Blog

Bank liable for breach of Quincecare duty

Published on 01 March 2018. By Andy McGregor, Partner and Charlotte Henschen (née Ducker), Senior Associate

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The Court of Appeal has upheld a decision that the appellant bank breached the Quincecare duty of care which it owed to its corporate customer by making payments without proper enquiry, in circumstances in which a reasonable banker would have been on notice that the customer's director was perpetrating a fraud.

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Blog

Enforcement Reporter - SFC sets out its enforcement priorities for 2018

Published on 01 March 2018. By Jonathan Crompton, Partner and Kingsley Krawczyk, Registered Foreign Lawyer

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On 26 February 2018 the SFC released the third edition of its new series of the Enforcement Reporter. The communication outlines the SFC's key enforcement priorities for the coming year and highlights significant recent enforcement actions. The Enforcement Reporter follows the general themes of previous editions and is a useful indication to the market of the SFC's key concerns. In particular, tackling corporate fraud remains top of the agenda, with insider dealing, misconduct by intermediaries and sponsors, and money laundering on the SFC's radar.

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Blog

In the Matter of Agrokor DD: Model Laws and PIK toggle loans

Published on 26 February 2018. By Jake Hardy, Legal Director

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A recent application made by insolvency practitioner of Agrokor, a major Croatian conglomerate, resulted in recognition in England of a stay of civil proceedings against the group. The purpose of the application was to halt any proceedings in relation to Agrokor's securities and debt obligations containing English law and jurisdiction provisions, pending the restructuring in the Croatian insolvency proceedings of the affairs of the group.

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