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Commercial Disputes

Blog

RMB exchange rate causing distress: Recent depreciation risks significant losses under exotic currency derivatives

Published on 25 March 2014. By Jonathan Cary, Partner

The renminbi (RMB) appreciation over the last several years appears to have halted for now (at least in the short-term), which has taken much of the market by surprise.

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Blog

The Law of Confidence – Where are we now?

25 March 2014

Our latest article, which first appeared in the March 2014 issue of PLC Magazine, ...

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Blog

Market manipulation: why you should give a Forex

Published on 19 March 2014. By Simon Hart, Partner

Allegations of manipulation in the Forex market have the potential to give rise to both regulatory fines and legal claims dwarfing those relating to LIBOR –

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Blog

Relief from sanctions: round-up of recent decisions

Published on 17 March 2014. By Daniel Wyatt, Senior Associate

Please click here for our latest article which looks at three recent decisions concerning relief from sanctions following the much publicised changes in April 2013 and the seminal case of Mitchell v News Group Newspapers Ltd [2013] EWCA Civ 1537.

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Blog

When within Rome I or II, do as your EU counterpart might (or might not) do but not in quite the same way they would do it.

Published on 12 March 2014. By Jake Hardy, Legal Director

It seems fairly uncommon[1] for a personal injury action to become a precedent of interest to, and significance for, commercial lawyers.

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Blog

Misrepresentor remains in firing line following change of counterparty

Published on 04 March 2014. By Daniel Hemming, Senior Associate

In Cramaso LLP v Ogilvie-Grant, Earl of Seafield and others[i] the Supreme Court considered whether a party could be liable for a negligent pre-contractual misrepresentation in circumstances where the party to which the representation was originally made was not the ultimate contracting party.

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Blog

Reflective loss – Court of Appeal decision mirrors the position in Gardner v Parker

Published on 27 February 2014. By Christopher Whitehouse, Associate

In the case of Malhotra v Malhotra & Anor[1], the claimant, Mr Rakesh Malhotra, had given a cross-undertaking in damages in support of a without notice injunction, which was later discharged.

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Blog

Deferred Prosecution Agreements (DPAs) go live

26 February 2014

The Director of the Serious Fraud Office, David Green, regards DPA s as "a welcome addition to the prosecutor's tool kit" but nevertheless has confirmed that "Prosecution remains the preferred option for corporate criminality".

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Blog

Commercial Court confirms principles relating to law governing arbitration agreements

Published on 25 February 2014. By Chris Ross, Partner

The case of Habas Sinai v VSC Steel Company[1] reinforces the importance of providing for a governing law in contracts, particularly if the parties want an arbitration agreement to be governed by a different law from the law of the seat of the arbitration.

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Blog

Court clarifies relationship between the CPR and the Companies Act when serving a director resident abroad

Published on 11 February 2014. By Adam Forster, Senior Associate

Following a recent judgment of the High Court, it has been held that an individual who is resident abroad, but who is a director of a UK company, can be served with documents, ...

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Blog

State Street fine shows increasingly active FCA

Published on 10 February 2014. By Jake Hardy, Legal Director

On Friday 31 January 2013, the Financial Conduct Authority ("FCA") released its Final Notice in relation to an investigation of two of State Street's UK businesses.

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Blog

Supreme Court rules that two wrongs can make a right (to rectify)

04 February 2014

The Supreme Court has allowed an appeal to alter mirror wills, signed by the wrong testators, in order that the intended heir may inherit. In Marley v Rawlings and another[1], Lord Neuberger held that the wills should be rectified on the basis that a 'clerical error' had occurred.

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Blog

SPLIT TRIALS – does proportionality rule supreme?

03 February 2014

The case management of proceedings in the High Court is governed at all times by the overriding objective which is to enable the Court to deal with cases justly and at proportionate cost.

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Blog

Litigation privilege – a cautionary tale

Published on 20 January 2014. By Christopher Whitehouse, Associate

In Starbev GP Ltd v Interbrew Central European Holding BV [2013] EWHC 4038 (Comm), the Claimant, Starbev GP Ltd ("Starbev"), successfully challenged the claim of the Defendant, Interbrew Central European Holding BV ("ICEH"), to withhold inspection of two categories of documents on the ground of litigation privilege.

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Blog

Court of Appeal warns claimants to tread carefully when faced with multiple tortfeasors

08 January 2014

In Gladman Commercial Properties, the Court of Appeal has upheld a High Court decision to strike out a second claim, brought against joint tortfeasors who were not parties to an earlier claim which had been compromised by a settlement agreement.

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Blog

Court of Appeal emphasises importance of truthful pleadings

02 January 2014

The Court of Appeal has recently upheld the High Court’s decision in Makdessi –v- Cavendish Square[1] allowing committal proceedings for contempt of court to be brought against Mr Makdessi for making false statements in his pleadings.

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Blog

Fairness is key in a securities lending agent's communication with clients

18 December 2013

In AP-Fonden v Bank of New York Mellon SA/NV & Ors[1] the High Court considered the nature and extent of the duty of care owed by a securities lending agent when managing a client's portfolio.

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Blog

David Cody v Andrew Murray and others [2013] EWHC 3448 (Ch)

17 December 2013

In a recent decision the High Court ordered a Claimant based in Texas to pay security for costs.

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Blog

Latest investor's lawsuit in Hong Kong

09 December 2013

As stated in our blog of 19 April 2013, investors are facing some rather strong headwinds in trying to sue banks and financial institutions in Hong Kong.

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Blog

The Financial Crisis - Where are we now?

Published on 04 December 2013. By Alan Williams, Senior Associate

"The first thing we do, let's kill all the lawyers" was the cry that famously went up in a peasant's revolt dramatised by Shakespeare centuries ago.

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Blog

The Alexandros T

Published on 04 December 2013. By Jake Hardy, Legal Director

The Supreme Court in The Alexandros T has delivered an important decision on the application of Articles 27 and 28 of Regulation 44/2001 in the English courts.

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Blog

Financial Litigation Roundup

Published on 26 November 2013. By Chris Ross, Partner

Please click here for our bulletin containing a roundup of the key judgments from litigation in the banking sector in 2012/2013 and review of matters currently before the courts.

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Blog

High Court considers service of breach of warranty claim

Published on 25 November 2013. By Daniel Wyatt, Senior Associate

In Ageas (UK) Limited -v- Kwik-Fit (GB) Limited, the court considered a preliminary issue regarding service of proceedings in a breach of warranty claim.

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Blog

Discretion to stay - exclusive jurisdiction clauses and foreign proceedings

Published on 21 November 2013. By Christopher Whitehouse, Associate

In Nomura International Plc v Banca Monte Dei Paschi Di Siena SpA [2013] EWHC 3187 (Comm), ...

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Blog

Silence can be expensive - the dangers of ignoring an opponent's ADR Request

Published on 14 November 2013. By Christopher Whitehouse, Associate

In PGF II SA v OMFS Co [2013] EWCA Civ 1288, the Court of Appeal extended the guidelines set out in Halsey v Milton Keynes General NHS Trust[1]

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Blog

Phew! Relief granted notwithstanding non-compliance and delay

01 November 2013

In Theverajah v Riordan & Others [2013] the court considered the factors relevant to an application for relief under amended CPR 3.9, which came into force in April 2013.

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Blog

Late but not too late: new claims and time bars

Published on 29 October 2013. By Geraldine Elliott, Partner

The High Court has recently considered the extent to which pleadings can be amended to introduce new claims out of time in the case of Nolan & others v Tui UK Limited.

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Blog

Court of Appeal makes it clear that a skeleton argument is not a vehicle for the introduction of unpleaded claims

Published on 24 October 2013. By Adam Forster, Senior Associate

The Court of Appeal has recently handed down judgment in the case of Credit Suisse AG v. Arabian Aircraft & Equipment Leasing Co EC.

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Blog

How well do you know your Expert Witness?

21 October 2013

The High Court decision in Proton Energy Group SA v Orlen Lietuva [2013] EWHC 2872 is a warning to all litigators to choose their expert witnesses wisely.

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Blog

Acting in Good Faith – is this now a given under English Law?

Published on 16 October 2013. By Alan Williams, Senior Associate

Under many civil law jurisdictions, such as France, Germany, and Italy, the law of obligations recognises and enforces an overriding principle (derived originally from Roman law) that in making and carrying out contracts parties should act in good faith.

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Blog

High Court confirms that general principles of contractual construction apply to 'misnomer principle'

Published on 14 October 2013. By Daniel Hemming, Senior Associate

In Liberty Mercian Limited v (1) Cuddy Civil Engineering Limited (2) Cuddy Demolition and Dismantling Limited

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Blog

ISDA publishes 2013 Arbitration Guide

Published on 01 October 2013. By Chris Ross, Partner

ISDA (the International Swaps and Derivatives Association) has published the 2013 ISDA Arbitration Guide, ...

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Blog

High Court considers RBS's liability for structured lending facility

Published on 20 September 2013. By Tom Hibbert, Partner

The recent decision by the English High Court in Torre Asset Funding Limited & anr v The Royal Bank of Scotland plc1 ...

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Blog

Clipping the wings of the Norwich Pharmacal jurisdiction

13 September 2013

In NML Capital Ltd v Chapman Freeborn Holdings Ltd1, the Court of Appeal has clarified the circumstances in which Norwich Pharmacal2 relief will be available.

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Blog

Court of Appeal considers extent of fiduciary duties in joint venture agreements

10 September 2013

In the recent case of Ross River v Waveley Commercial Limited and Peter Barnett, ...

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A recent High Court decision acts as a reminder to take care in seeking to settle disputes

Published on 28 August 2013. By Alan Williams, Senior Associate

The recent decision by the English High Court in Newbury v Sun Microsystems [2013] EWHC 2180 (QB) underlines the importance for lawyers of taking care when settling disputes.

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Blog

High Court rules that South African subsidiary was not domiciled in England

23 August 2013

In Vava –v- Anglo American South Africa Ltd (AASA) and Young–v- AASA

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Blog

High Court considers non-party costs order on appeal

Published on 15 August 2013. By Daniel Wyatt, Senior Associate

The High Court recently gave judgment on an appeal against a master's costs decision in AP (UK) Limited v West Midland Fire & Civil Defence Authority.

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Blog

Supreme Court sheds light on service of English proceedings abroad

Published on 07 August 2013. By Jake Hardy, Legal Director

The Supreme Court in its decision in Abela & Ors v Baadarani considered the requirements for service of English proceedings abroad, ...

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Blog

Calculating the value of a restitutionary award in a claim for unjust enrichment

07 August 2013

The Supreme Court judgment in Benedetti v Sawaris and others ([2013] UKSC 50) clarified the basis on which a court should evaluate the remuneration (or quantum meruit) for the value of a person's services based on the unjust enrichment of the person receiving the services.

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Blog

Force India in the Court of Appeal – a winning formula?

22 July 2013

The Court of Appeal in Force India has recently provided some helpful guidance on breach of confidence in the commercial arena1.

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Blog

The English court's power to grant anti-suit injunctions in support of arbitration

Published on 19 July 2013. By Chris Ross, Partner

The Supreme Court judgment in Ust-Kamenogorsk Hydropower Plant JSC v AES Ust-Kamenogorsk Hydropower Plant LLP [2013] ...

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Blog

Defining 'directorship' for director disqualification

08 July 2013

The recent High Court decision in Re UKLI Limited provides a useful summary of both the factors that the court will take into account when determining whether an individual is a shadow director or a "de facto" director and the differences between these two concepts.

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Blog

The corporate veil: Prest, but not pierced

Published on 08 July 2013. By Adam Forster, Senior Associate

The Supreme Court has recently given judgment in the case Prest (Appellant) v Petrodel Resources Limited and others (Respondents), following an appeal from the Court of Appeal.

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Blog

Cost Budgeting – more guidance please

Published on 02 July 2013. By Rebecca Birkby, Senior Associate

Troy Foods v Manton, concerns an application for permission to appeal an approval of a costs budget.

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Blog

Keeping one's (written) word

24 May 2013

The Court of Appeal has recently applied some judicial brakes on the movement towards contextual, business common sensical, interpretations of commercial agreements.

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Blog

China Arbitration Update - a local (international) difficulty

Published on 10 May 2013. By Jonathan Wood, Head of International Arbitration

The on-going dispute between, on the one hand, CIETAC and, on the other, SHIAC (the new Shanghai International Arbitration Center1) and SCIA (the new Shenzhen Court of International Arbitration), unfortunately, shows no sign of abating for now.

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Blog

An ATE policy can be sufficient security

Published on 26 April 2013. By Rebecca Birkby, Senior Associate

In Geophysical Service Centre Company Ltd v Dowell Schlumberger (Middle East) Inc, the claimant was successful in defending a security for costs application on the basis that, ...

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Blog

Individual investors who "speculate" having a tough time in court

19 April 2013

In my "blog" of 8 March 2013, I refer to a couple of cases in which individual claimants have successfully sued a bank, basically in negligence for failing preserve their wealth; for example, Deutsche Bank AG v Chang [2012] SGHC 248 (subject to appeal) and Rubenstein v HSBC Bank Plc [2012] EWCA Civ 1184 (an appeal court judgment).

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Blog

LIBOR manipulation claim stumbles

Published on 05 April 2013. By Chris Ross, Partner

In Deutsche Bank AG v Unitech Global Limited 2013 EWHC 471 (Comm) Cooke J refused permission for the defendants to amend their defence and counterclaim to refer to misrepresentations relating to the alleged manipulation of LIBOR by Deutsche Bank, on the basis that the amended claims had no reasonable prospect of success.

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