Latest by Jonathan Cary
The High Court confirms the availability of Bankers Trust orders to trustee Claimants seeking to recover misappropriated assets
The decision of the High Court in Miles Smith Broking Limited –v– Barclays Bank PLC has confirmed for the first time the availability of the commonly encountered Bankers Trust order to trustee Claimants of stolen/misappropriated property, highlighting the flexibility of the Court's equitable jurisdiction when presented with new situations. The decision also serves as a neat illustration of the Court's willingness to grant Norwich Pharmacal relief to facilitate the recovery of unlawfully dissipated assets and the types of complimentary interim remedies available to Claimants for that purpose.
Read moreCourt of Appeal holds that a facility agreement based on the LMA model form does not constitute lenders' standard terms for UCTA: But never say never…
The Court of Appeal has upheld a decision that a facility agreement based on the LMA model form did not constitute the lenders' standard terms for the purposes of UCTA. Had UCTA applied, the terms of the facility agreement would have been subject to a reasonableness test.
Read more
Service by Email – Lessons from Glencore Agriculture B.V. v Conqueror Holdings Limited [2017] EWHC 2893
The English High Court has found that service by email of arbitration proceedings was not valid under section 76 of the Arbitration Act 1996 on the basis that the correspondence had been directed to the email address of an employee who did not have the authority to accept service. The judge found that in circumstances where service is by way of an individual email address, validity of service depends on the application of agency principles.
Read moreClaimant investors establish advisory duty against bank
In the most recent so-called 'mis-selling' case in Hong Kong, three claimant investors succeeded in establishing that a bank owed them a contractual duty to exercise reasonable care and skill with regard to their portfolio of investments held with the bank.
Read more"Mis-selling" claim fails on appeal in Hong Kong
Hong Kong Court of Appeal confirms challenges in bringing mis-selling claims against banks and financial intermediaries.
Read moreDisputes over bank's contractual right to freeze customer's account
As banks tighten-up their standard terms concerning due diligence on customers and their transactions, it is inevitable that disputes will arise and that some will make their way to court.
Read morePrivilege - the Hong Kong courts giveth back what the English Courts hath swept away in Three Rivers
Introducing a healthy dose of common sense, the Hong Kong courts have rejected the English Court of Appeal's restrictive approach to legal advice privilege in Three Rivers (No5) and adopted a broader and more practical "dominant purpose" test.
Read moreStill no joy for investors' mis-selling claims
In the latest alleged mis-selling case in Hong Kong, the Court of First Instance maintained a consistent approach with other recent cases, rejecting an investor's claim based on misrepresentation and suggesting that the principle of contractual estoppel is alive and well.(1)
Read moreMarketing to professional investors – the Court of Final Appeal's verdict
In Securities and Futures Commission v Pacific Sun Advisors Ltd, the Hong Kong Court of Final Appeal recently ruled that the advertisement of a collective investment scheme intended to be disposed of only to professional investors ...
Read more