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Putting all your eggs in one frozen basket
Doggy day-care, unlimited holidays, and personal trainers – some companies offer their lucky employees perks which see the rest of us stare into our pre-eight-thirty porridge in a jealous rage.
Read moreConduct Risk Briefing offers wealth managers insights into regulator's thinking
'Source of wealth' is key.
Read moreHMRC mislead appellants into believing they have a remedy in the Tribunal in contractual settlement dispute
In Morris and another v HMRC,[1] the First-tier Tribunal (“the FTT”) has confirmed that it does not have jurisdiction to determine a dispute relating to the correct valuation of assets which were the subject of a contractual settlement with HMRC.
Read moreBroker M&A –how far does your indemnity go?
A recent case in the High Court has demonstrated how a court may construe a contractual indemnity in the context of broker M&A.
Read moreThreats in the spotlight
Threats provisions remain an area of great interest and debate for many intellectual property specialists and the recent case of Cassie Creations Limited v Simon Blackmore and Mirrorkool Limited [2014] EWHC 2941 has again placed threats and their commercial application into the spotlight.
Read moreProposed reduction in solicitors' PII cover rejected
The Legal Services Board has today refused the Solicitors Regulation Authority's proposed reduction in the minimum level of professional indemnity insurance cover from the current level of £2m to £500,000.
Read moreFCA report on complaints handling more optimistic than many feared
The FCA has finally published its report on its review of consumer complaint handling at 15 major retail financial services firms.
Read moreOW Bunker update – Hong Kong company applies for winding-up
Hong Kong Court records available publicly today show that a Petition was presented last Friday to wind up O.W. Bunker China Ltd (a Hong Kong company).
Read moreSuited. Booted. Recruited?
As Alex Hitchens in 'Hitch', Will Smith told us that "clothes make the man". Well-dressed though he is, Will Smith did not come up with this idea on his own.
Read moreDefendant which unreasonably refused to mediate escapes costs sanctions
When considering costs and exercising its discretion under CPR 44.2, the court has regard to all the circumstances including the conduct of the parties before as well as during the proceedings.
Read moreHMRC'S APPLICATION FOR SECURITY FOR COSTS REFUSED
HMRC'S APPLICATION FOR SECURITY FOR COSTS REFUSED - GSM EXPORT (UK) LTD (IN ADMINISTRATION) AND ANOTHER v HMRC[1]
Read moreHMRC's application for security for costs refused
HMRC'S APPLICATION FOR SECURITY FOR COSTS REFUSED - GSM EXPORT (UK) LTD (IN ADMINISTRATION) AND ANOTHER v HMRC[1]
Read moreBunker disputes – Bankruptcy of OW Bunker A/S and associated companies
We are receiving numerous enquiries regarding the fallout from the bankruptcy of OW Bunker A/S and certain associated companies.
Read moreInjunctions - when will the court order fortification of a cross-undertaking in damages?
The Court of Appeal endorsed for the first time the accepted criteria that must be satisfied before the court can order an application for fortification of a cross-undertaking in damages in EVP v Malabu Oil.[1]
Read moreDefendant which unreasonably refused to mediate escapes costs sanctions
When considering costs and exercising its discretion under CPR 44.2, the court has regard to all the circumstances including the conduct of the parties before as well as during the proceedings.
Read more"Time's up" – limitation for a claim against a valuer
In a decision handed down last week, the court has provided further guidance on the limitation position for claims against surveyors.
Read moreNo anti-suit injunction for parties not subject to an arbitration agreement
The importance of drafting arbitration agreements carefully and precisely has been highlighted by the Commercial Court when it rejected an application for an anti-suit injunction restraining New York court proceedings in favour of arbitration[1].
Read moreApplicants for search warrants must make full and frank disclosure to the court
The following is taken from an article by Adam Craggs, originally published in Tax Journal on 31 October 2014.
Read moreApplicants for search warrants must make full and frank disclosure to the court
The following is taken from an article by Adam Craggs, originally published in Tax Journal on 31 October 2014.
Read moreContainer weight fraud
Container weights is a hot topic at the moment, with the IMO set to introduce new requirements for the verification of container gross mass.
Read moreFinancial Services: Minimising Risk in a Dawn of Opportunity
The Treasury provided an unexpected opportunity for financial advisers earlier this year when they announced that, from April 2015, investors may be able to unlock their pension funds and exercise greater control over investing their hard earned wealth.
Read moreFinancial Services: Minimising Risk in a Dawn of Opportunity
Over the last few years, firms have been asking themselves how they will make money in the post RDR world.
Read moreIn the Garden without Pay
Sunrise Brokers LLP v Rodgers is the salutary tale of a broker who gambled in his decision to leave his employer for a competitor.
Read moreTribunal orders HMRC to pay taxpayer's costs – Ian Elder v HMRC
The decision of the First-tier Tribunal (Tax Chamber) ('FTT') in Ian Elder v Commissioners for HMRC[1] offers a useful summary of the FTT's approach on the assignment of appeals to the Complex category ...
Read moreTribunal orders HMRC to pay taxpayer's costs – Ian Elder v HMRC
The decision of the First-tier Tribunal (Tax Chamber) ('FTT') in Ian Elder v Commissioners for HMRC[1] offers a useful summary of the FTT's approach on the assignment of appeals to the Complex category, applications to bar a party from participating in proceeding and costs sanctions.
Read moreCourt rejects "capital" punishment
Appeal considers relevance of ship sale following early redelivery
Read moreWho dares pays
In Excalibur Ventures LLC v Texas Keystone Inc & Others [2014] EWHC 3436 the Commercial Court has given a warning to third party funders that they can be liable to pay the costs of the winning party where they fund a hopeless case.
Read moreFCA keeps SIPP investments under close scrutiny
We blogged previously on the tougher attitude that the FCA is taking concerning the obligations of SIPP operators, and the increased focus on the suitability of underlying SIPP investments.
Read moreNew Safety and Health Guidelines to Protect Seafarers
The International Labour Organisation has agreed guidelines to assist governments in implementing occupational safety and health provisions previously set down in the Maritime Labour Convention 2006.
Read moreLimits on the VAT exemption for insurance intermediaries
A recent Tax Tribunal decision highlights the limits of the VAT exemption for supplies by an insurance intermediary.
Read moreIn the garden but without pay
Sunrise Brokers LLP v Rodgers is the salutary tale of an equity derivatives broker who gambled in his decision to leave his employer for a competitor.
Read moreCofA applies rare 19th Century tort in granting injunction
The Court of Appeal has granted an injunction against the publication of a well-known performing artist's book to protect the rights of his son, not on the basis of misuse of private information but because publication would be likely to cause psychological harm to the son.
Read moreInsurance contract law reform – a reinsurance angle
In Spring 2015, the Insurance Bill, which applies to business insurance and thereby reinsurance, is likely to be given royal assent.
Read moreSupreme Court ruling in eagerly awaited "sale and rent back" test case
The Supreme Court faced the time honoured question of what happens in a fraudulent transaction where there are two innocent parties with competing claims…
Read moreHong Kong's top court confirms loss of cover
The importance of complying with insurance warranties
Read moreYou're Hired! (Because I like you)
It is often said that a company's employees are its most valued asset.
Read moreCrestfallen claimants: High Court upholds bank disclaimers in claim for negligent advice
In the latest in a line of court rulings upholding disclaimers, the High Court, in the recent case of Crestsign v NatWest & RBS, held that, as a result of careful disclaimer wording, the banks did not owe a common law duty of care to their customer not to provide negligent advice.
Read moreTax Tribunal confirms the time period in which HMRC must open an enquiry
As readers will be aware, HMRC generally has twelve months from the date a company files a return to open an enquiry[1].
Read moreBribes and Undisclosed Commissions to Agents: Supreme Clarity.
In late July, the Supreme Court of England and Wales handed down a succinct judgment on a topic which, while narrow, is of considerable importance in its sphere.
Read moreProject Innovate: an incubator for growth?
The FCA launched its new Innovation Hub yesterday, with the aim of fostering support to businesses looking to benefit consumers in the financial services sector.
Read moreCourt's firm stance refusing to extend valuer's duty of care in tort beyond his contractual duty
In the case of Freemont (Denbigh) Ltd v Knight Frank LLP [2014] EWHC 3347 (Ch), a landowner instructed a valuer to prepare a valuation report for a plot of land.
Read moreArguing until Blue(fin) in the face: Court tells FOS that beneficiaries under a D&O policy are not consumers
The Financial Ombudsman Service has suffered a major defeat in the Administrative Court which will come as a relief to D&O insurers and brokers.
Read moreFTT prevents HMRC from having two bites of the cherry!
In Lady Henrietta Pearson v HMRC [2014] UKFTT 890 (TC), the First-tier Tribunal (Tax Chamber) ('FTT') concluded that HMRC had "ignored" its previous decision by seeking to reduce the amount of a VAT refund ...
Read moreFTT prevents HMRC from having two bites of the cherry!
In Lady Henrietta Pearson v HMRC [2014] UKFTT 890 (TC), the First-tier Tribunal (Tax Chamber) ('FTT') concluded that HMRC had "ignored" its previous decision by seeking to reduce the amount of a VAT refund which it had ordered HMRC make to Lady Henrietta Pearson ('the taxpayer').
Read moreFCA approves 'independent' use of internal specialist advisers
Ever since RDR 'independence' rules were introduced nearly two years ago, financial advisers have sought clarification on referring clients to internal specialists within their firm for expert advice.
Read moreCultural Revolution: FCA offers re-education in the provinces
In a speech at Mansion House last night, Martin Wheatley announced a masters degree in regulation in conjunction with Henley Business School which, he said, will "set the global standard".
Read moreFCA approves 'independent' use of internal specialist advisers
Ever since RDR 'independence' rules were introduced nearly two years ago, financial advisers have sought clarification on referring clients to internal specialists within their firm for expert advice.
Read moreChanges to the UK Corporate Governance Code – real change?
The UK Corporate Governance Code (the Code) sets out principles of good governance for premium listed companies in the areas of board composition and development, remuneration, shareholder relations, accountability and audit.
Read moreGMAC's strategy for limiting VAT payments proved lawful in ECJ
The following is taken from an article by Robert Waterson and Nigel Brook, originally published in International Tax Review (12 September 2014).
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