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Commercial Disputes


Ghosh test overturned: dishonesty according to the standards of ordinary, reasonable and honest people

Published on 14 December 2017. By Sarah Shaul, Associate and Davina Given, Partner

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The Supreme Court has held that the test for dishonesty should be assessed only by reference to whether or not the defendant's conduct is dishonest by the objective standards of ordinary, reasonable and honest people. The Court concluded that there were convincing grounds for holding that the second limb of the longstanding Ghosh test did not correctly represent the law and that directions based upon it ought no longer to be given. The Court further stated that the assessment of dishonesty in criminal and civil proceedings should be made by reference to the same test.

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Financial litigation roundup winter 2017

Published on 13 December 2017. By Tom Hibbert, Partner and David Smyth, Senior Partner, Hong Kong

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Welcome to the latest edition of our Financial Litigation roundup, where we share our insights into recent judgments and ongoing cases as well as new regulatory developments from the banking and financial world in the UK and Asia.

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SFAT fines HSBC Private Bank record-breaking HK$400 million and suspends its securities licenses

Published on 24 November 2017. By Jonathan Crompton, Partner

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On Tuesday (21 November 2017), Hong Kong's Securities and Futures Appeals Tribunal fined HSBC Private Bank (Suisse) SA HK$400 million, suspended its license to advise on securities and partially suspended its license to deal in securities, for one year. The previous largest fine was HK$30 million.

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ADR coming of age for financial disputes in Hong Kong

Published on 20 November 2017. By Jonathan Crompton, Partner and Maria Petzsch, Registered Foreign Lawyer (England & Wales)

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Alternative dispute resolution is coming of age for financial disputes in Hong Kong, as we see the FDRC's Financial Dispute Resolution Scheme expand from 1 January 2018 and 1 July 2018.

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Gulf between legal advice privilege in the UK and Hong Kong is widening

27 September 2017

Jonathan Cary explains the gulf opening up between England and the other major common law jurisdictions such as Hong Kong in relation to legal advice privilege and the pitfalls to be aware of.

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High Court sheds light on compulsory jurisdiction of Financial Ombudsman Service

Published on 19 July 2017. By Matthew Evans, Senior Associate

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The High Court has provided some clarification of the scope of the compulsory jurisdiction of the Financial Ombudsman Service (FOS). The decision has left the scope of that jurisdiction open to discussion, and appears to suggest that the courts will take a more mechanical approach to reviewing regulatory decisions.

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Don't be scared – it's just an exemption clause

Published on 05 July 2017. By Parham Kouchikali, Partner and Ed Holmes, Associate

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The Court of Appeal holds that an exemption clause is wide enough to exclude liability for negligence for a failure to identify asbestos.

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Defective service and culpable delay: a warning to claimants

Published on 03 July 2017. By Chris Ross, Partner and Andy McGregor, Partner

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Commercial Court refuses application for alternative service and strikes out claim forms after claimant's delay in pursuing claim.

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Another bad bargain upheld: Wood v Sureterm Direct Ltd [2017] UKSC 24

Published on 23 June 2017. By Matthew Evans, Senior Associate and Geraldine Elliott, Partner

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The Supreme Court has dismissed an appeal in Wood v Sureterm Direct Ltd. The Court upheld the Court of Appeal's decision on the meaning of an indemnity clause, and agreed with its application of established contractual interpretation doctrine. The decision confirms the established judicial approach to contractual interpretation, namely the focus on the words of a given clause.

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