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"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).
Read moreFOS is not unfair; it just doesn't apply the law
The new CEO of FOS, Caroline Wayman, gave evidence to the Treasury Select Committee yesterday, including (reportedly) in response to a poll that revealed 58% of advisers considered FOS unfair in its decisions on financial advice.
Read moreContent Clergy, Satisfied Solicitors, and Bitter Barmen
A recent study by the Cabinet Office has found that the Solicitors' profession is the 44th most content in the UK*. We will all be pleased to hear that accountants trail behind at 45th.
Read moreContent Clergy, Satisfied Solicitors, and Bitter Barmen
A recent study by the Cabinet Office has found that the Solicitors' profession is the 44th most content in the UK*. We will all be pleased to hear that accountants trail behind at 45th.
Read moreThe importance of commercial considerations in contractual construction
The principles governing contractual interpretation under English law are reasonably well-established.
Read moreDon't (Calder) bank on an analogy to the Part 36 regime
When a party makes a Part 36 Offer, the consequences are clear. The rules and sanctions for failure to beat a Part 36 Offer are set out in the Civil Procedure Rules.
Read moreMarket Misconduct Tribunal gives Tiger Asia the "cold shoulder"
Hong Kong's Market Misconduct Tribunal (the MMT) has banned Tiger Asia Management LLC (a hedge fund based in New York) and one of its principal officers from dealing in Hong Kong securities for four (of a maximum five) years.
Read moreHMRC lose employment status case
In the recent case of EMS (Independent Accident Management Services) Limited v HMRC [2014] UKFTT 891 (TC), the First-tier Tribunal (Tax Chamber) ("FTT"), found in favour of the taxpayer on the question of whether or not an employment relationship existed.
Read moreNew UK Procurement Rules Published for Consultation
Draft new Public Contracts Regulations 2015 and a Consultation Document on UK Transposition of the new EU Procurement Directives have recently been published by the Cabinet Office. This paves the way for the 2014 Directives to be implemented in the UK early next year.
Read moreFCA COMPLETES THEMATIC REVIEW OF MOBILE BANKING AND PAYMENTS
The Financial Conduct Authority (FCA) has recently published its findings following its thematic review of mobile banking and payments.
Read moreNo loss of confidence – causation in confidential information claims
Richmond Pharmacology Ltd v Chester Overseas Ltd, Milton Levine and Larry Levine [2014] EWHC 2692 (Ch)
Read moreLeveling the playing field - SFC conclusions on professional investor regime and client agreements
Despite the ongoing political noise coming out of Hong Kong, commercial life and the operation of the financial markets continue unabated.
Read moreUnlimited leave = unlimited productivity?
‘We should focus on what people get done, not on how many hours or days worked. Just as we don’t have a nine-to-five policy, we don’t need a vacation policy.’
Read moreUnlimited leave = unlimited productivity?
‘We should focus on what people get done, not on how many hours or days worked. Just as we don’t have a nine-to-five policy, we don’t need a vacation policy.’
Read moreTribunal allows taxpayer to make a late appeal and rejects HMRC's overly formalistic approach
In Chirag Patel v HMRC[1] the First-tier Tribunal ('FTT') decided that a letter from the taxpayer's accountant constituted a late appeal against a discovery assessment, despite it not being expressed as such.
Read moreEU Consultation on Cloud Computing and Software
The EU has opened a public consultation to help define future research priorities in the areas of Cloud Computing and Software (including Open Source). Any and all stakeholders are invited to submit their views by 10 October 2014.
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