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Individual investors who "speculate" having a tough time in court
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).
Read moreClark v In Focus appeal – watch this space
In Focus has now been granted permission to appeal against the decision of the High Court in Clark v In Focus.
Read moreSize does matter – risk of potential claims against estate agents
A recent Financial Times article has highlighted a potential risk area for estate agents.
Read moreProperty Rental Business Transfers and Leases – Reclaiming VAT and SDLT
Last November, following the decision in the case of Robinson Family Limited, HMRC announced that a transfer of a property rental business can qualify as a "transfer of a going concern" (TOGC) – and therefore not attract VAT – even if the transferor retains a reversionary interest in the property.
Read moreTax tribunal finds in favour of trustee
The recent case of The Trustee of the De Britton Settlement v HMRC [2013] UKFTT 106 (TC), illustrates the importance of evidence and proper preparation in tax appeals before the First-tier Tribunal ('FTT').
Read moreCourt of Appeal's opinion on good faith clauses
In our February blog we reported on Compass Group UK and Ireland Ltd (trading as Medirest) v Mid Essex Hospital Services NHS Trust [2012] EWHC 781 (QB) and the implications of the decision on the duty to act in good faith.
Read moreCourt of Appeal gives judgment on the potential liability of solicitors for a non-party costs order
In two joined cases , the Court of Appeal considered the potential liability of solicitors for a non-party costs order, if they fund disbursements.
Read moreFinancier granted permanent anonymity in defamation proceedings
Proceedings have finally drawn to a close in the case of ZAM v CFW & TFW, which involved a financier who claimed to have been libelled by his sister-in-law (the first defendant) and her husband (the second defendant).
Read moreNEWS: Scullion appeal to Supreme Court withdrawn – no duty of care owed by mortgage valuer to BTL investors – relief for valuers and their insurers
The appeal by buy-to-let (BTL) investor Mr Scullion – due for hearing at the Supreme Court today – was withdrawn on confidential terms this morning.
Read moreDefence to Harassment actions reformulated
The Supreme Court has handed down a judgment in Hayes v Willoughby1 that redefines the scope of the most commonly used defence to claims of harassment.
Read moreCan schools take pupils' fingerprints?
The Times reported last week that parents at an independent school in north London had protested when fingerprints were allegedly taken from pupils without consent with a view to the fingerprints being used for the automated lunch payment system.
Read moreDawn raids: regulatory inspections of your IT equipment and storage media
The European Commission has recently affirmed its current practices for searching IT equipment and storage media during a 'dawn raid' inspection of business premises where it suspects a breach of EU competition law.
Read moreThe official line – how Judges are being instructed to implement Jackson costs reforms
A recent speech at the Judicial College by the Master of the Rolls (Lord Dyson) shows precisely how Judges are being instructed to implement two key aspects of the Jackson costs reforms:
Read moreHigh Court finds that "History" can be repeated
A highly anticipated High Court decision was handed down 1 February 2013 dismissing claims for trade mark infringement and passing off brought by A & E Television Networks LLC and its UK subsidiary AETN against Discovery Communications Europe Ltd.
Read moreFollow landmark valuers 'duty of care' hearing (Scullion) live next week
In 2011 the Appeal Court decided unanimously that the valuer's duty of care, when reporting to its lender client, should not extend to cover a buy-to-let investor (as distinct from a residential purchaser):
Read moreUK/EU conflict over the 'right to be forgotten'
The Guardian is reporting today that Britain wants to opt out of the 'right to be forgotten', the term applied to article 17 of the Data Protection Regulation which is intended to facilitate the deletion of personal data on request whether or not the data is incomplete or incorrect.
Read moreLIBOR manipulation claim stumbles
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.
Read moreEaster thoughts and transfer pricing
Easter is a good time for reflection and balanced thinking and never have these qualities been so necessary as in the contentious area of tax, particularly where multinationals and the large corporates are concerned.
Read moreDo we really value our privacy?
How much do we really care about our personal privacy? Research suggests less than we might like to think.
Read moreHigh Court reaffirms no copyright protection for computer program functionality
In what should be the final instalment in a long-running case, on January 25 2013 a decision was issued in SAS Institute Inc v World Programming Ltd[i] following the referral back to the High Court from the European Court of Justice (ECJ)
Read moreExcluding liability (and avoiding judicial red ink)
Exclusion clauses – by which a party excludes or restricts a liability or duty that would otherwise arise – are common 'boilerplate' provisions in commercial agreements.
Read moreThe trigger for liability coverage - actual liability or reasonable settlement?
On 28 February 2013 judgment was delivered in the case of AstraZeneca Insurance Company Limited v XL Insurance (Bermuda) Limited and ACE Bermuda Insurance Limited [2013] EWHC 349.
Read moreSupreme Court clarifies what constitutes 'making' a patented product
On 13 March 2013 the Supreme Court issued its weighty decision in the long-running case of Schütz v Werit([2013] UKSC 16).
Read moreReliance on misleading information or guidance from HMRC can constitute a 'reasonable excuse'
In recent years, with the difficulties that many taxpayers have experienced in the current economic climate, the issue of 'time to pay' agreements with HMRC has become of greater concern.
Read moreCosts overruns in Target Costs contracts
Who is liable for costs overruns in a Target Cost contract, and to what extent? AMEC Group recently went to the TCC to appeal against an arbitration decision which found the Secretary of State for Defence ("the Authority") would only be liable for actual costs which were reasonably and properly incurred.
Read moreNPPF – 1 year on: smooth transition or wasted opportunity?
Given that over 50% of Britain's local councils are still to adopt Local Plans, is the window of opportunity for local residents to take control of development in their local area about to close?
Read moreFirst-tier Tribunal considers whether a single supply may be taxed at two VAT rates
When a taxpayer makes a supply of goods or services, it is not always clear cut whether there is more than one supply, or a single composite supply for VAT purposes.
Read moreNew Kids on the Block : alternative funders in the real estate lending market
Over the last couple of years, there has been a surge in real estate lending by non-bank lenders as traditional banks started withdrawing from the market.
Read moreRobust judicial case management in action
In a Judgment handed down on 14 March 2013, the Court has sent a powerful message to all parties, and to their solicitors, about the immediate and painful financial consequences of 'manoeuvring' and seeking to frustrate effective judicial case management.
Read moreWhat are the potential risks associated with BIM?
This is the second of three blogs about Building Information Models, or BIM. This blog will consider the potential risks associated with BIM, but don't worry we provide some practical advice on how these risks can be tackled in our final BIM blog.
Read moreLSB request rejected: SRA confirm no review into separate business rule
The Solicitors Regulation Authority ("SRA") have rejected the Legal Services Board ("LSB") request that they conduct a review of the separate business rule ("SBR"), as it is not in the public interest to do so and the necessary resources are not available.
Read moreNo Fishing!
A recent High Court decision has reminded Claimants that pre-action disclosure applications cannot be used as fishing expeditions to form or strengthen any unsubstantiated claims.
Read moreECJ ruling in Grattan plc v Revenue and Customs Commissioners [2012] All ER (D) 246 (Dec)
The Court of Justice of the European ('ECJ') has recently confirmed the opinion of the Advocate General in Grattan Plc v HMRC.
Read moreSuccessful lawsuit against bank in Singapore but appeal due
In Deutsche Bank AG v Chang [2012] SGHC 248, the Singapore High Court has upheld a retail investor's claim that the bank owed a pre-contractual duty of care to advise him as to (among other things) the preservation of his new wealth, despite contractual disclaimer and estoppel points arising out of a subsequently signed service agreement with the bank.
Read moreNew Sanctions Guidance For Accountants and Actuaries' Investigations
The Financial Reporting Council ("FRC") has published its first Sanctions Guidance for individuals and member firms under investigation.
Read moreThe rush for ATE – and the risk of claims arising
After-the-event insurance premiums have been a plague to surveyors, who have borne the brunt of claims arising from the property crash.
Read moreTribunal finds for the taxpayer and concludes that a trade was being carried on
In the recent case of Albermale 4 LLP v HMRC,1 the First-tier Tribunal ('FTT') was called upon to consider the difficult question of the meaning of 'trade' for the purpose of section 262 Income Tax (Trading and Other Income) Act 2005 ('ITTOIA 2005').
Read moreGood Faith Clauses
There is no general doctrine of good faith in English law and it is not therefore implied into contracts.
Read moreLate expectations – taxpayers succeed in their application to appeal out of time
The 30 day time limit, contained in section 31A Taxes Management Act 1970 ('TMA 1970'), for giving notice of appeal against an amendment of a self-assessment contained in a closure notice is well known to tax practitioners
Read moreRights to Light Reform: Law Commission Consultation
On 18 February 2013 the Law Commission announced that it was beginning a consultation process regarding possible changes to the law governing "rights to light".
Read moreFlood risk insurability – are you exposed?
On 1 July 2013, barring unexpected developments, flood risk insurance for residential property will move to the open market leaving an estimated 200,000 properties exposed to the possibility of severe capital value reductions.
Read moreFinal curtain call
On 14 February 2013 the Court of Appeal in Miller v Sutton [2013] EWCA Civ brought to an end a long running campaign by Mr Miller against his former solicitor in relation to his failed business selling Jimi Hendrix CDs.
Read moreJCT Insurance Options: what's the right fit for fit-out?
Where a tenant is fitting out premises within a multi-occupied building, the JCT's standard insurance options are not always appropriate and, left unaddressed, place unintended and severe risks on the tenant.
Read moreSubstantively procedural: Delineating boundaries in cross-border litigation
In a recent decision, the High Court has ruled that the manner in which expert evidence should be given is to be determined by reference to the procedural law of the forum and not the applicable, substantive law governing the dispute.1
Read moreTake care of your letterhead ...
In UCB Home Loans Corporation Ltd v Soni & Co the Court of Appeal has found that a partner in a solicitor's firm was not liable under the S14 Partnership Act 1980 for fraudulent representations made by another partner to a mortgage lender.
Read moreLenders' contributory negligence - a blunted blade?
Notwithstanding the growing impact of limitation defences, many UK lenders' portfolios remain exposed.
Read moreClarification of solicitors' breach of trust claims in a re-mortgage situation
The Court of Appeal on 8 February 2013 in AIB Group (UK) plc v Mark Redler & Co [2013] EWCA Civ 45 has provided further clarification of the necessary ingredients to establish breach of trust by solicitors in a lender's claim.
Read moreThe Prudential decision – implications for taxpayers
The Supreme Court has refused to extend legal advice privilege ('LAP') to legal advice given by professionals who are not lawyers.
Read moreGoing viral: Supreme Court on YouTube
It has now been two weeks since the launch of the UK Supreme Court's YouTube channel.[1]
Read moreSecurity Trustee – fiduciary or mortgagee?
The High Court has recently given judgment in a case* relating to the duties owed by a security trustee to mezzanine lenders, in circumstances where the security trustee is enforcing security on behalf of senior lenders.
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