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Commercial Disputes

Publication

Financial Litigation roundup

17 December 2015

Welcome to the latest edition of our Financial Litigation roundup. In this edition, we consider recent judgments and ongoing cases from the banking and financial world in the UK and Asia, as well as regulatory developments in those jurisdictions

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Publication

Financial Litigation roundup

17 December 2015

Welcome to the latest edition of our Financial Litigation roundup. In this edition, we consider recent judgments and ongoing cases from the banking and financial world in the UK and Asia, as well as regulatory developments in those jurisdictions

Read more
Blog

The Supreme Court restates the rule on penalties

Published on 07 December 2015. By Andy McGregor, Partner

The Supreme Court has recast the test for penalties to bring it into line with modern commercial practices. The new test is less formalistic and leaves the courts with greater discretion to look at the commercial rationale for a clause.

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Blog

High Court clarifies scope of duties owed by directors to shareholders

Published on 03 December 2015. By Maria Petzsch, Registered Foreign Lawyer (England & Wales) and Simon Hart, Partner

The High Court has struck out a number of claims brought by shareholders in what was, in 2008, Lloyds TSB against its directors (Sharp & others v Blank & others).

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Blog

Supreme Court broadens scope of freezing order wording

Published on 30 November 2015. By Emma Griffiths, Senior Associate and Parham Kouchikali, Partner

A recent decision[1] of the Supreme Court has clarified the scope of the standard form Commercial Court freezing order, holding that the right to draw down monies under a loan agreement can be an "asset" where the extended form freezing order is granted.

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Blog

Court of Appeal upholds estoppel by convention for forgetfulness

Published on 20 November 2015. By Alexis Armitage, Associate and Tim Brown, Partner

In Dixon and another v Blindley Health Investments Ltd[1] the Court of Appeal held that a shareholder was estopped by convention from relying on a pre-emption agreement for the sale of shares which had been agreed by members informally through correspondence some 8 years previously and had since allegedly been forgotten.

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Blog

When can a company assert legal advice privilege against its shareholders?

20 November 2015

A High Court judge recently confirmed the general principle that a company cannot assert legal advice privilege against its shareholders, subject to one exception:

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Blog

Court refuses stay in favour of Italian proceedings under 2001 Brussels Regulation

Published on 06 November 2015. By Laura Martin, Senior Associate and Parham Kouchikali, Partner

The Commercial Court has declined to stay an English action[1] in favour of prior proceedings in Italy, notwithstanding the fact that the dispute pre-dated the application of the Recast Regulation.

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Blog

Exclusive (jurisdiction), read all about it!

Published on 05 November 2015. By Ed Holmes, Associate and Davina Given, Partner

In Global Maritime Investments Cyprus Limited v OW Supply & Trading A/S (under konkurs),[1] a jurisdiction clause prevented the defendant from pursuing issues in the Danish courts, even though jurisdiction was not stated to be "exclusive".

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Blog

Breach of SFO disclosure requirements and damages that can follow

Published on 05 November 2015. By Samuel Hung, Associate

In July 2015 the Securities and Futures Commission (SFC) commenced its first set of proceedings in the Market Misconduct Tribunal against a listed company for allegedly failing to disclose price-sensitive inside information to the public as soon as reasonably practicable, contrary to Section 307B(1) of the Securities and Futures Ordinance.

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