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Commercial Disputes

Blog

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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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 the Civil Procedure Rules.

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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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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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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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When will pleading "special circumstances" permit collateral use?

Published on 22 February 2018. By Joe Cresswell, Associate and Geraldine Elliott, Partner

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Having taken a strict approach when considering what constituted "collateral use" in Tchenguiz v Grant Thornton UK LLP, the Commercial Court has moved quickly to clarify the test for "special circumstances" in applications for permission to use previously disclosed documents in The Libyan Investment Authority v Société Générale SA and others.

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Court of Appeal holds that a facility agreement based on the LMA model form does not constitute lenders' standard terms for UCTA: But never say never…

Published on 15 February 2018. By Charlotte Henschen (née Ducker), Senior Associate and Jonathan Cary, Partner

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The Court of Appeal has upheld a decision that a facility agreement based on the LMA model form did not constitute the lenders' standard terms for the purposes of UCTA. Had UCTA applied, the terms of the facility agreement would have been subject to a reasonableness test.

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Hong Kong regulator warns of cryptocurrency risks

Published on 09 February 2018. By Jonathan Cary, Partner and Ben Yates, Senior Associate

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Documents from which legal advice can be inferred – are they privileged?

Published on 28 December 2017. By Christopher Whitehouse, Associate and Davina Given, Partner

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The High Court considered the extent to which legal advice privilege could attach to documents which were not communications of legal advice between lawyer and client but from which privileged legal advice could be inferred and held that privilege could indeed apply to such documents. The test is whether there is a "definite and reasonable foundation" for such an inference to be made as opposed to material that would merely make the reader speculate what the legal advice was.

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Service by Email – Lessons from Glencore Agriculture B.V. v Conqueror Holdings Limited [2017] EWHC 2893

Published on 19 December 2017. By Laura Evans, Associate and Jonathan Cary, Partner

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The English High Court has found that service by email of arbitration proceedings was not valid under section 76 of the Arbitration Act 1996 on the basis that the correspondence had been directed to the email address of an employee who did not have the authority to accept service. The judge found that in circumstances where service is by way of an individual email address, validity of service depends on the application of agency principles.

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