Boats on water in docks.

Commercial Disputes

Blog

Prior arbitral award – abuse of process?

Published on 30 March 2017. By Davina Given, Partner

Green tint 3

Michael Wilson & Partners Limited v Sinclair and others [2017] EWCA Civ 3 demonstrates the interplay between arbitration and litigation, considering whether legal proceedings commenced by A against C are an abuse of the court's process where arbitration proceedings between A and B have decided the issue in question. The Court of Appeal held that a prior arbitration award can found an argument that subsequent litigation against a third party is an abuse of process, but will rarely do so. On the facts of this case, the claim was not considered to be an abuse of process.

Read more
Blog

Letters of Credit: Fraud conquers all – if it is fraud

Published on 30 March 2017. By Alan Williams, Senior Associate and Andy McGregor, Partner

Gray tint 1

The High Court decision in Petrosaudi Oil Services (Venezuela) Ltd v. Novo Banco S.A. and Others [2016] EWHC 2456 provided a useful reminder that the principle of autonomy, which provides for payments to be made under letters of credit, regardless of disputes under the underlying contract, will not be upheld if the fraud exception applies. In its decision at first instance the High Court had found that the fraud exception had applied. However, the High Court judgment was appealed. This update discusses the Court of Appeal's decision.

Read more
Publication

Financial litigation roundup

Published on 06 March 2017. By Tom Hibbert, Partner

Abstract building

Welcome to the latest edition of our financial litigation roundup, which considers recent judgments, ongoing cases and legal developments from the banking and financial world in the UK and Asia.

Read more
Blog

Demand guarantees not subject to doctrine of strict compliance

Published on 21 February 2017. By Parham Kouchikali, Partner

Abstract building

High Court holds that the doctrine of strict compliance does not automatically apply to demand guarantees (or performance bonds) in the way that it applies to letters of credit.

Read more
Blog

Court of Appeal upholds Financial List decision on application of Rome Convention to derivative instruments

Published on 08 February 2017. By Charlotte Ducker, Senior Associate and Simon Hart, Partner

Green tint 2

The Court of Appeal has upheld a decision from the first trial heard within the new Financial List regarding the application of the Rome Convention to derivative instruments.

Read more
Blog

Another meander through Three Rivers (No 5): the scope of legal advice privilege

Published on 22 December 2016. By Maria Petzsch, Registered Foreign Lawyer (England & Wales) and Parham Kouchikali, Partner

Untinted 2

The High Court rejected RBS' claim that interview notes taken by the bank and its external lawyers in the course of two internal investigations were privileged.

Read more
Blog

Filling gaps: Implied terms in contracts

Published on 22 December 2016. By Amelia Payne, Associate and Tim Brown, Partner

Purple tint 3

The Court of Appeal has held that where a contract would, on its face, be unenforceable because the parties failed to agree an essential term, the missing term cannot be implied.

Read more
Blog

Football agent scores a victory in loss of a chance case

Published on 21 December 2016. By Christopher Whitehouse, Associate and Tom Hibbert, Partner

Untinted 5

The Court of Appeal upheld the appeal of a licensed football agent who alleged Sports and Entertainment Media Group had induced a professional footballer to breach an agency contract with him, which had deprived him of the fee he would have earned.

Read more
Blog

"It's privileged" – is not enough! High Court orders a full list of each document over which a claim to privilege is asserted

Published on 20 December 2016. By Alexis Armitage, Associate and Davina Given, Partner

Green tint 1

The High Court held that a defendant's claim to privilege in respect of communications between employees and in-house counsel went too far. It ordered the defendant to provide a full list of each document over which the defendant asserted a claim to privilege, together with an explanation of the nature of the privileged claimed.

Read more
Blog

High Court dismisses Libyan Investment Authority's claim against Goldman Sachs

Published on 17 November 2016. By Simon Hart, Partner and Sarah Shaul, Associate

Untinted 4

The High Court dismissed the Libyan Investment Authority's claim against Goldman Sachs based on two causes of action, undue influence and unconscionable bargains, in relation to a series of transactions which the parties entered into (the Disputed Trades) between September 2007 and April 2008, causing the LIA to lose billions.

Read more