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China crisis - what does the latest share slide mean for your business, and your contracts?
When I first wrote about the turmoil in the Chinese stock market back in July last year, there was still some debate as to how serious the crash was, and what the direct or indirect implications would be for businesses with trading interests in the region.
Read moreHigh Court holds deception undermines "dominant purpose" for claim to litigation privilege
In Property Alliance Group Ltd v Royal Bank of Scotland Plc the Court held that where a claimant had met the defendant's former employees to seek evidence for the claim, but had misled them as to the purpose of the meetings, the dominant purpose of those meetings could not be said to be the litigation.
Read moreAnnual Insurance Review 2016
Landmark insurance law reform and market consolidation
Read moreAnnual Insurance Review 2015
There are no prizes for guessing the likely main insurance law event of 2016. The Insurance Act 2015 will come into force on 12 August 2016.
Read morePay the correct court fee – or else!
On 9 March 2015 there was a substantial increase in the fees to issue civil proceedings. As a result, the court fee is now £10,000 to issue a claim worth in excess of £200,000 (or the damages are unquantified).
Read moreTribunal allows company's appeal and confirms that the four-year time limit does not apply to corporation tax self-assessment returns
In Bloomsbury Verlag GmbH v HMRC [2015] UKFTT 660 (TC),the First-tier Tribunal (Tax and Chancery) (FTT) has held that the four-year time limit does not apply to corporation tax self-assessment returns and that trading losses can be carried forward even though they were not included in a return.
Read moreWhat makes a "Law Firm of the Year"?
Managing Partner Jonathan Watmough speaks with John Malpas, Editor-in-Chief of Legal Week, about what contributed to being named Law Firm of the Year 2015.
Read moreCavendish win on penalties: Supreme Court makes finger-tip save of ageing doctrine
The Supreme Court has provided long awaited clarification of the law on penalty clauses and liquidated damages, upholding the "penalty rule" but further limiting its utility in a commercial setting.
Read moreSpeed & Consumption – good weather daze?
The High Court of England & Wales has overturned an arbitration Award in a rare appeal on a performance dispute[1].
Read moreCourt of Appeal permits early redemption of Lloyds Banking Group's Enhanced Capital Notes
In BNY Mellon Corporate Trustee Services Ltd v LBG Capital No.1 and No. 2 Plc, the Court of Appeal reversed the first instance decision of the High Court, by allowing early redemption of certain convertible securities (known as Enhanced Capital Notes, or ECNs).
Read moreUK source of interest
In Ardmore Construction and Andrew Perrin v HMRC [2015] UKUT 633 (dual appeal), the Upper Tribunal (UT) dismissed the taxpayers appeals and confirmed that they had received UK source dividends on which UK income tax was deductible at source.
Read moreDaily Telegraph publisher fined £30k for general election email campaign
On 15 December 2015 the Information Commissioner's Office (ICO) issued Telegraph Media Group Limited (the Telegraph) with a Monetary Penalty Notice
Read moreTitan v Colliers – the price of everything and value of nothing
The Court of Appeal recently overturned the High Court's judgment in the case of Titan v Colliers.
Read more'Dear CEO letter' to debt management firms clarifies FCA's expectations on transfer of customers or their information
Following ongoing consolidation in the debt management market, Jonathan Davidson, FCA Director of Supervision (Retail and Authorisations), has published a 'Dear CEO letter' which sets out the FCA's expectations of debt management firms when customers or customer information are being transferred.
Read moreUpper Tribunal accepts reasonable excuse defence for late claim for repayment of tax
In Raftopoulou v HMRC [2015] UKUT 579, the Upper Tribunal (UT) has confirmed that a taxpayer can make a valid claim for repayment of overpaid tax ...
Read moreVAT update
This is our last VAT update of 2015. RPC’s next VAT update will be published on 28 January 2016. We wish all our readers a Merry Christmas and a Happy New Year!
Read moreHigh Court rejects interest rate swap misselling claim
In Thornbridge Limited v Barclays Bank PLC the High Court considered a claim for the missale of an interest rate swap based on several different causes of action, all of which were unsuccessful.
Read moreNew EU data protection rules (finally!) agreed
On the 17th of December, and after much negotiation, a final draft of the new General Data Protection Regulation (GDPR) was approved by the Civil Liberties, Justice and Home Affairs (LIBE) committee of the European Parliament.
Read moreEU in or EU out?
The UK will soon be faced with a question that may well have a profound impact on its future and materially shape its place in the world, namely: should the UK remain in or out of the European Union.
Read moreDelay not a bar to obtaining freezing injunction
The High Court has granted three insolvent Cayman companies (each in liquidation) a worldwide freezing order in support of proceedings against Mr Terrill, an individual who operated behind the companies' respective corporate directors as their sole director and shareholder.
Read moreGetting ahead of the curve: EBA consults on 'robo-advisers'
Technology will transform the financial advice world, and this transformation has already begun.
Read moreFinancial Litigation roundup
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 moreFinancial Litigation roundup
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 moreEmployment update, November 2015
Penalty clauses: what is the test where a clause is claimed to be unenforceable?
Read moreShow me the money: new capital requirements for PIFs
Last week the FCA released its Policy Statement PS15/28: Capital resources requirements for personal investment firms (PIFs) updating rules that set the amount of capital to be held by directly authorised PIFs which date back to 1994.
Read moreHely-Hutchinson - taxpayer wins legitimate expectation judicial review
In R(oao Hely-Hutchinson) v HMRC [2015] EWHC 3261 (Admin) ...
Read moreAnti-suit injunctions – do not delay
The recent judgment of the English Commercial Court in Essar Shipping Ltd v Bank of China Ltd[1] has highlighted the importance of applying for anti-suit injunctions swiftly once the dispute arises.
Read moreLitigation privilege: A tangled web unwoven
Deception undermines the "dominant purpose" necessary for a claim to litigation privilege in the most recent instalment in the ongoing saga of Property Alliance Group Ltd v Royal Bank of Scotland Plc.
Read moreIFAs quizzed by FCA over insistent clients
The FCA has asked IFAs to explain how they deal with situations where clients wish to act against advice on pension transfers.
Read moreBallast Water Management Convention likely to come in 2016
Three countries, Monaco, Indonesia and Ghana, ratified the IMO Ballast Water Management (BWM) Convention, during the recent IMO Biennial Assembly Meeting, in London.
Read moreNational Grid Gas plc hit with £2m fine for health and safety breach
National Grid Gas plc hit with £2m fine for health and safety breach
Read moreNational Grid hit with £2m fine for health and safety breach
A sign of things to come?
Read moreNo returns for M&S following Supreme Court ruling
The Supreme Court has upheld the decision of the Court of Appeal in the case of Marks and Spencer plc (M&S) v BNP Paribas Securities Trust Company (Jersey) Ltd (BNPP).
Read morePRA fines bank for outsourcing failures
Last week, the PRA announced that it had imposed a fine of over £1.2 million on R. Raphael & Sons plc.
Read moreDiscovery assessments - HMRC fails to discharge burden of proof
The following is taken from an article originally published in Tax Journal
Read moreFCA frustrated by continuing shortcomings in wealth management sector but must accept subtleties of suitability
The FCA's thematic review report published today expresses concern about some wealth management firms who are still not getting suitability right despite five years of regulatory 'communications'.
Read moreLawyer v lawyer: where there's blame there's a claim?
Dissatisfied clients of law firms have probably never had so many ways to complain about their solicitor.
Read moreChina's Two Child Policy: Too Little Too Late?
Announced in a very 21st century way, China's official news agency recently tweeted that China will be implementing a policy allowing couples to have two children.
Read moreSerbian forum shopper in disclosure breach of duty has privacy and libel action struck out
On 23 November 2015 Sir Michael Tugendhat set aside an order for service out of the jurisdiction of proceedings for the misuse of private information and libel which had been made by Master Roberts on 31 March 2015 in respect of an article in Politika,
Read moreThe Supreme Court restates the rule on penalties
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.
Read moreDelegation of regulated activities – warning from the FCA
Adviser firms delegating regulated activities to unregulated third parties have been removed from the FCA's Christmas card list following a notice issued this week.
Read moreFCA has increasing appetite to use alternative enforcement penalties
In a recent appearance before the Treasury Select Committee the FCA has hinted that it may make further use of its restriction and suspension powers as an alternative as well as an addition to the power to impose financial penalties.
Read moreHigh Court clarifies scope of duties owed by directors to shareholders
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).
Read moreEmployees on Social Media - Managing the Risk
Employees who actively use social media can be a fantastic 24/7 dynamic marketing tool for companies.
Read moreSmall businesses; large losses?
On Friday the FCA published a wide ranging discussion paper in which it seeks comments on proposed changes to the way in which it, and the FOS, deals with SME businesses.
Read moreSmall businesses; large losses?
On Friday the FCA published a wide ranging discussion paper in which it seeks comments on proposed changes to the way in which it, and the FOS, deals with SME businesses.
Read moreSquatting: an own goal?
In October 2015, a Manchester hotel undergoing extensive refurbishment works was occupied by squatters and housing activists.
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