Search
"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 moreTribunal finds HMRC was not entitled to issue a discovery assessment
In Anderson v HMRC [2016] UKFTT 335 (TC), the First-tier Tribunal (FTT) allowed the taxpayer's appeal and held that HMRC was not entitled to issue a discovery assessment pursuant to section 29(1) TMA, as the taxpayer had not been careless.
Read moreTime Charters corrected on underperformance
High Court narrows shipowners' defences to an underperformance claim
Read moreTiuta International Ltd (in liquidation) v De Villiers Surveyors
The Court of Appeal recently overturned a first instance decision in an application for summary judgment in the matter of Tiuta International Ltd (in liquidation) v De Villiers Surveyors Ltd [2006] EWCA Civ 661
Read moreTax update, July 2016
In this month's edition of our Tax Update we will report on HMRC's (1) revised corporate interest deductibility rules consultation, (2) new company taxation manual, and (3) off-payroll working and IR35 consultation. We also comment on three recent cases concerning 'trading', the applicability of income tax on employment termination payments, and SDLT planning.
Read moreISPs' appeal is "blocked"
In a judgment handed down today, the Court of Appeal, led by Lord Justice Kitchin, has overwhelmingly rejected the appeal by the five largest ISPs and upheld the High Court decision to grant Richemont a blocking order requiring those ISPs in the UK to prevent access to various third party websites from advertising and selling goods which infringe Richemont's trade mark rights.
Read morePension freedom advice complaints: Delays and insistent clients cause of concern for the FOS
Following reassuring news about low pension-related complaint numbers, the Financial Ombudsman's latest newsletter has revealed further details of the types of complaints they have received since the sweeping changes to the pension freedom rules in April of last year.
Read morePre-judgment interest rate – prime plus 1%
In May 2016 the Court of Appeal in Hong Kong handed down three consistent decisions confirming that (among other things) prime rate plus 1% should continue to be used as the starting point for awarding pre-judgment interest on damages awarded by the courts in civil disputes.
Read moreTribunal dismisses taxpayer's appeal as trade not conducted on a commercial basis
In Gray v HMRC [2016] UKFTT 0379 (TC), the First-tier Tribunal (FTT) has held that a taxpayer conducting promotional activities for his musician wife was not entitled to set losses from those activities against profits from his legal business.
Read moreVAT update, June 2016
The result of last week's referendum on the UK's membership of the EU is likely to lead to a prolonged period of uncertainty in many areas of taxation
Read more6 top priorities for GCs following the Brexit vote
6 clear priorities for in house legal leaders emerged from the dialogue that I had with Bruce Macmillan, the former in-house lawyer who heads our Centre for Legal Leadership:
Read morePension Deed rectified by Summary Judgment without a hearing
The High Court has recently granted summary judgment for rectification of a trust deed without a hearing. The judge did this "in such plain circumstances" where the evidence demonstrated that there was "no real prospect of a realistic challenge" to the position that the final version of the deed should have been executed, not an earlier draft.
Read moreBrexit - a legal analysis: Competition
The implications for competition law and practice will very much depend on what form of Brexit the UK will end up negotiating. At one end of the spectrum the UK could join the European Free Trade Association and the European Economic Area, an avenue that is likely to generate the fewest changes. If the UK were to seek a total exit, falling back on World Trade Organisation (“WTO”) rules to continue trading with the EU, the potential changes would be more wide-ranging as outlined below.
Read moreBrexit - a legal analysis: IP rights
IP rights in the UK are all influenced and moulded to a greater or lesser degree by European law.
Read moreHigh Court encourages use of FOS to resolve disputes
The Commercial Court has encouraged the use of the FOS to resolve disputes, by granting a stay to enable claimants to benefit from what it described as a more economical and informal process.
Read moreHong Kong - China's window of the business world
David Smyth - Senior Partner, Asia - considers Hong Kong's role in a global market.
Read moreBrexit and "Topsyturvydom": Wish-casting and dog-whistles portrayed as "fact" and vice versa
While I have been absorbing the "debate" about Brexit over the past few weeks, the comic operas of Gilbert and Sullivan have increasingly been coming to mind. Those gentlemen were legendary for creating comic "Topsy Turvy" situations where absurd scenarios were taken to even more absurd, but apparently logical, conclusions to great comic effect. More recently the term "topsy turvy" has also come to mean "Upside down" and/or "a state of total chaos".
Read morePRA gold plates EU audit committee requirements for significant insurers
Is your audit committee PRA compliant? New PRA rules out this month require designated "significant" insurers to fill their audit committees solely with independent non-executive directors.
Read moreHow would a Brexit affect the NHS?
The potential effect of a Brexit on the NHS has become a key political battleground with wildly divergent statistics being quoted and outlandish claims being made by both campaigns. Should the UK vote to leave the EU on 23 June there are a number of potential impacts on the NHS, outlined below.
Read moreHow would a Brexit affect employment in the UK?
Whilst the papers tell us to panic and the politicians speak of a potential apocalypse, the general view is that there will likely be very little immediate change to employment law should we vote to leave the EU on 23 June 2016.
Read moreHow would a Brexit affect Intellectual Property laws in the UK?
The future of IP law in the UK might not be at the top of your list of considerations when thinking about which way to vote on the 23 June. However, this area of law is heavily harmonised across the EU meaning that a vote to leave could have serious ramifications for businesses relying on IP rights.
Read moreCaveat Emptor: Buyer's inadequate notice precludes £3.5m warranty claim
In Teoco v Aircom (unreported), the High Court has held that a buyer gave inadequate notice of certain breach of warranty claims, thereby preventing it from pursuing those claims (worth c. £3.5m).
Read moreHow would a Brexit affect the banking and finance sector in the UK?
Financial services represent around £26bn or 57.5% of the City of London's total income and accounts for 7.5% of the total national income of Great Britain; 18% of cross-border lending is arranged in the UK and over 250 foreign banks are in London. A Brexit could threaten the City of London's well established reputation as detailed below.
Read moreThe new 'notification injunction'
In Holyoake v Candy the High Court considered the court's power to grant a "notification injunction" requiring the Defendants to give written notice before disposing or dealing with their assets. The decision is of interest to applicants seeking an alternative to a freezing injunction where there is concern that a respondent may deal with their assets so as to frustrate the enforcement of any future judgment.
Read moreAnti-suit injunctions
In Sea Powerful II, the Court of Appeal in Hong Kong recently dismissed a plaintiff ship owner's appeal against a judge's refusal to grant an anti-suit injunction to restrain the holder of a bill of lading from continuing with court proceedings in mainland China in breach of a Hong Kong arbitration clause
Read moreHow would a Brexit affect the property market in the UK?
Industry participants have forecast a slowdown in residential and commercial property markets in the lead up to polling day on 23 June.
Read moreHow would a Brexit affect the cost of living in the UK?
The Brexit campaign is littered with statistics about the impact of a Brexit on the UK's economy. But how does this translate to its potential impact on the cost of living?
Read moreHow would a Brexit affect law firms in the UK?
As with many sectors, the implications of a Brexit for law firms in the UK are largely unknown and heavily dependent on the UK's relationship with the EU. Law firms will need to be alive to the impact across different practice areas as well as on the business as a whole.
Read moreHow would a Brexit affect environmental protection in the UK?
In 2013, the EU introduced an interim ban on a class of pesticides called neonicotinoids.
Read more
How would a Brexit affect the insurance industry in the UK?
The insurance industry plays an essential part of the UK economy and manages investments equivalent to 25% of the UK’s total net worth.
Read moreHow would a Brexit affect online shopping from the EU?
In or out? No matter which side you’re on, there’s one thing we can all agree on: we buy a lot from Europe.
Read moreHow would a Brexit affect our trade relationship with Europe?
There are a number of variables which would materially shape our trade relationship with Europe in a post-Brexit world.
Read moreHow would a Brexit affect financial services regulation in the UK?
Financial services is one of the UK's most important sectors, contributing over £126bn to the UK economy and representing 10% of GDP. The key post-Brexit issues for the sector are summarised below.
Read more
Tax update
The Finance Bill 2016 contains provisions which will introduce a specific penalty linked to the General Anti-Abuse Rule (GAAR) provisions.
Read moreComic Enterprises remains gleeful as CofA upholds series marks
The Court of Appeal recently ruled on an outstanding aspect of the appeal brought by Twentieth Century Fox in the "Glee" trade mark dispute.
Read more"New" Third Parties (Rights Against Insurers) Act and what corporates need to know
The Third Parties (Rights Against Insurers) Act 2010 and the late payment provisions in the Insurance Act 2015 changes are set out
Read more