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Take 10 - July 2022
Welcome to RPC's Media and Communications law update for media lawyers. This month's digest reports on key media developments and the latest cases.
Read moreThe Week That Was - 8 July 2022
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
Read moreCompeting subordinated debts – the lessons learnt from Lehmans' insolvency
Some 13 years ago, Lehman Brothers' sudden and unexpected insolvency sent ripples across the banking and financial services market, some of which are still felt today. The Court of Appeal's decision in the consolidated cases of Lehman Brothers Holdings Scottish LP 3 v Lehman Brothers Holdings plc (in administration) and others [2021] EWCA Civ 1523 was the latest in a long line of cases seeking to unwind the issues arising from Lehman Brothers' unexpected collapse.
Read moreCompeting subordinated debts – the lessons learnt from Lehmans' insolvency
Some 13 years ago, Lehman Brothers' sudden and unexpected insolvency sent ripples across the banking and financial services market, some of which are still felt today. The Court of Appeal's decision in the consolidated cases of Lehman Brothers Holdings Scottish LP 3 v Lehman Brothers Holdings plc (in administration) and others [2021] EWCA Civ 1523 was the latest in a long line of cases seeking to unwind the issues arising from Lehman Brothers' unexpected collapse.
Read moreMoney Mirror Issue 2 - July 2022
Welcome to Money Mirror, RPC's new Payments & Consumer Credit publication. In our 2n edition, we take a look at the Payment Systems Regulator's first competition infringement decision, consumer credit financial promotions, the latest in Buy Now Pay Later, and access to cash.
Read moreSebastian Holdings litigation – tail-end risks mount for Mr Vik
In the latest chapter of the attritional legal battle between Deutsche Bank AG (DBAG) and Sebastian Holdings and its principal Mr Alexander Vik (Mr Vik), DBAG has ground out yet another victory against Mr Vik. This time, the stakes are much higher than substantial sums of money – Mr Vik now faces a potential custodial sentence after having been found by the Commercial Court to have been in contempt of court for deliberately giving false evidence.
Read moreCyber_Bytes - Issue 42
Welcome to Cyber_Bytes, our regular round-up of key developments in cyber, tech and evolving risks.
Read moreFollower notice penalties cancelled as failure to take 'corrective action' was reasonable in all the circumstances
Allowing an appeal by Mr Andreae, the First-tier Tribunal cancelled penalties HMRC had issued for failure to take corrective action following receipt of follower notices. It was held that this failure was reasonable in all the circumstances where Mr Andreae had relied on the advice of a scheme promotor and later sought further advice from an independent advisor.
Read moreCrypto crash likely to lead to wave of litigation, warn lawyers
Litigation funders beginning to finance cryptocurrency disputes
Read moreRPC advises Howden on acquisition of Singapore-based AEGIS Insurance Agencies
International law firm RPC has advised global insurance broker Howden on its acquisition of AEGIS Insurance Agencies in Singapore, strengthening its commitment to the Asian market.
Read moreRegulatory update - July 2022
Welcome to the July edition of the Regulatory update, which pulls together recent developments from across the UK’s regulators to help you navigate the regulatory maze.
Read moreRPC strengthens award-winning Technology practice with leading Partner hire
International law firm RPC has hired Commercial, Technology and Outsourcing lawyer Tania Williams to join the firm's award-winning Technology practice in London as a Partner. Tania starts from the 4 July 2022.
Read moreThe Week That Was - 1 July 2022
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
Read moreThe FCA: becoming a data-driven regulator
The FCA published its second data strategy in 2020 (the first being published in 2013) and since then it has been full steam ahead.
Read moreSports Ticker: Sport stars' NFTs, the 2026 World Cup hosts and a sustainable F1 partnership - a speed-read of commercial updates from the sports world
In a fortnight which saw Britvic's Robinsons and Wimbledon end their 86-year partnership and Loughborough University collaborate with FIFA on artificial pitch testing, we feature updates on England's Rugby Football League deal with Betfred, the NFT ventures of Ronaldo and Michael Owen, and the BBC's renewal of its broadcasting rights for the London Marathon.
Read moreAll is not (necessarily) lost: Crypto crime recovery
With over 2 million people in the UK now holding and using cryptocurrency, and the Chancellor announcing that a government backed non-fungible token ("NFT") is to be issued by the Royal Mint this summer, the market for crypto-assets is expected to continue to grow in the coming months and years; so much so that legislation is planned to implement a new regulatory regime for the crypto market.
Read moreThe Bichard RICS Review: Recommendations for an overhaul of the RICS structure
The Bichard RICS Review has been published this month following the investigation into the institution by Lord Michael Bichard. In his report, Lord Bichard has made a number of recommendations in relation to the purpose and governance of RICS, which they have been urged to adopt "at pace".
Read moreBusinesses warned to get 'robust protections in place' as push payment fraud soars
International law firm RPC reacts as UK Finance reveals staggering 44% increase on this type of financial scam in 2021
Read morePD57AC: How compliant is compliant? High Court refuses to strike out passages in fact witness statements
Lifestyle Equities CV & Anor v Royal County of Berkshire Polo Club Ltd & Ors(1), departs notably from the recent pattern of authority and guidance on the enforcement of the new witness statement Practice Direction 57AC (PD57AC).
Read moreV@ update - June 2022
Welcome to the June 2022 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.
Read moreHigh Court decides that reviving proceedings automatically stayed under CPR 15.11 requires relief from sanctions
In a recent judgment, the English Commercial Court in Bank of America Europe DAC v CITTA Metropolitana Di Milano has provided guidance on the "automatic stay" provisions of CPR 15.11 and the circumstances in which parties can revive dormant proceedings subject to such an automatic stay.
Read moreHigh Court decides that reviving proceedings automatically stayed under CPR 15.11 requires relief from sanctions
In a recent judgment, the English Commercial Court in Bank of America Europe DAC v CITTA Metropolitana Di Milano has provided guidance on the "automatic stay" provisions of CPR 15.11 and the circumstances in which parties can revive dormant proceedings subject to such an automatic stay.
Read moreRPC Insurtech in brief - June 2022
Welcome to the June 2022 edition of Insurtech in Brief – a selection of the latest Insurtech news and developments from across the globe.
Read moreTribunal allows taxpayer's appeal as investments met the risk to capital test required for Enterprise Investment Scheme relief
Allowing an appeal by Inferno Films Ltd, the First-tier Tribunal held that the company had satisfied the risk-to-capital test in section 157A, Income Tax Act 2007, because it had objectives to grow and develop its trade in the long term. HMRC was directed to authorise the issue of compliance certificates under section 204, Income Tax Act 2007, for the purposes of Enterprise Investment Scheme relief.
Read moreNon-compliance with CrimPR does not render otherwise timely information a nullity
The Court confirmed that, while offences must be charged within any applicable time limit for charging, the requirement that the charge must contain "such particulars of the conduct constituting the commission of the offence as to make clear what the prosecutor alleges against the defendant", in Criminal Procedure Rule (CrimPR) Rule 7.3(1)(b), did not require a statement from the prosecutor that the offence had been laid within the relevant time limit if the timing of the offence was not an element specified in the offence.
Read morePost COVID-19 UK: What Will the Professional Negligence Claims Landscape Look Like?
The cost of living is at an all-time high, with interest rates increasing and inflation currently sitting at around 9%. The chances of a recession in the UK over the next two years have increased. It will come as no surprise that we expect the number of claims against law firms to rise as the economic downturn takes hold, as was the case in 2008 and recessions before it.
Read moreRPC advises Dellner Polymer Solutions on acquisition of Ferrabyrne Ltd
International law firm RPC has advised Dellner Polymer Solutions, part of Sweden's Dellner Group, on its acquisition of high-end engineering supplier Ferrabyrne Ltd, as part of the Dellner Group's continuing global expansion.
Read moreLawyers Covered - June 2022
Welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.
Read moreThe Month That Was - April 2022 - looking at the FCA business plan and Adams v Carey
Welcome to Money Covered, a monthly podcast from RPC aimed at those dealing with complaints, claims and risk management in the financial services sector.
Read moreWealthy taxpayers warned as HMRC clamps down on unfiled tax returns
HMRC is clamping down on wealthy taxpayers who have failed to file a tax return – just days after new data revealed a national "tax gap" of £32billion over the last year, warns international law firm RPC.
Read moreThe Powerful And The Penalised
With SRA fining powers set to increase by a factor of twelve, we look at the changes being introduced and the impact they will have.
Read moreFashion brands make up a quarter of ‘greenwashing’ complaints to the CMA
Fashion brands account for a quarter of complaints relating to unsubstantiated green claims since new guidelines were introduced last year, according to research from international law firm RPC.
Read moreThe Week That Was - 24 June 2022
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
Read more"Train of inquiry" documents: Court makes rare and exceptional order for Model E Disclosure under disclosure pilot
In a recent interim decision in the re-trial of Ras Al Khaimah Investment Authority v Azima [2022] EWHC 1295 (Ch), the Court has made a rare order for Model E Disclosure under PD 51U. The Model was applied to one issue only, which the Judge considered a "core critical issue" in dispute.
Read moreBuy Now Pay Later - the next instalment……
Following the Woolard Review in February 2021, you may remember that HM Treasury published a consultation in October 2021 which closed on 6 January 2022. It set out proposals to extend regulation to unregulated Buy Now Pay Later (BNPL) products. The consultation sought views on the scope of regulation in relation to the activities which should be regulated, and the regulatory controls applicable to these types of products. It also considered whether other forms of short-term interest free credit (STIFC) should be treated in the same way as BNPL.
Read moreHong Kong Employment Law Update: Mandatory Provident Fund offsetting mechanism to be abolished after decade-long debate and campaigning
Following on from our brief update published on 9 June 2022, this article provides a detailed overview of the amendments put forward by the long-awaited Employment and Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 (the "Bill"), which was finally passed by the Legislative Council on 9 June 2022. The main feature of the Bill is the abolishment of the offsetting mechanism of the Mandatory Provident Fund ("MPF").
Read moreHigh Court again highlights importance of the confidentiality embargo on a draft judgment
In keeping with the run of High Court decisions on the importance of the confidentiality embargo which attaches draft judgments, the IPEC has held that an embargo was breached when journalists were provided with a press release on confidential terms, prior to the judgment being formally handed down(1). While this was a breach, the judgment clarified that certain disclosures made internally to employees of the Defendants' company were permitted, as they fell within the intended scope of CPR Part 40 and its Practice Direction.
Read moreAn update on the insurance museum (with Reg Brown)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined for the third time by Reg Brown, who is giving an update on the insurance museum initiative.
Read moreTechnology in Insurance
On 16 June 2022 RPC hosted an afternoon of talks and panel sessions on the theme of 'Technology in Insurance', the culmination of the firm's TechWeek which brings market experts and lawyers together to discuss risks and opportunities with new technologies within different business sectors.
Read moreTax Tribunal cancels discovery assessments and late filing penalties
In Robert Don Hunter Dougan v HMRC [2022] UKFTT 00140 (TC), the First-tier Tribunal (FTT) cancelled certain discovery assessments issued to a taxpayer by HMRC, on the basis they were issued out of time because the taxpayer's behaviour was careless rather than deliberate, for the purposes of section 36, Taxes Management Act 1970 (TMA). The FTT also cancelled various late filing penalties and late payment surcharges issued by HMRC, on the basis the notices were not validly served on the taxpayer.
Read moreLitigation funders backing class action lawsuits as they put £2.2bn “war chests” to work
UK litigation funders’ assets* have hit a record £2.2billion last year, an 11% increase on the previous year says international law firm RPC.
Read moreAre the brakes on for Quick Commerce?
With consumers continuing to prioritise speed and convenience in the wake of the Covid-19 pandemic, there has been significant consumer uptake in the use of ultra-fast grocery delivery apps such as Zapp, Gorillas and Getir since early 2020.
Read moreHong Kong data protection: cross-border transfers of personal data
We take a closer look at businesses' obligations under Hong Kong law to protect personal data in a cross-border transfer and the new recommended model contractual clauses.
Read moreSports Ticker (17 June 2022) - PGA Tour vs LIV Golf, BT x WBD deal and AC Milan sale - a speed-read of commercial updates from the sports world
In a fortnight which saw UEFA issue an apology to fans following events at the Champions League final in Paris and Rafael Nadal's 14th victory at the French Open, we feature updates on the CMA's investigation into the BT and Warner Bros Discovery pay-TV deal, RedBird's purchase of AC Milan and the suspension of PGA Tour members following LIV Golf.
Read moreTake 10 - June 2022
Welcome to RPC's Media and Communications law update for media lawyers. This month's digest reports on key media developments and the latest cases.
Read moreThe Week That Was - 17 June 2022
Welcome to The Week That Was, a round-up of key events in the construction sector over the last seven days.
Read moreHong Kong's Legislative Council approves Employment Ordinance amendments to address employment issues arising from anti-epidemic measures
On 15 June 2022, the Hong Kong Legislative Council passed the Employment (Amendment) Bill 2022 ("Bill"), which was gazetted earlier in February this year. The purpose of the Bill is to address employment-related issues arising from the government's anti-epidemic measures.
Read moreRPC Bites #48 – proposed salt and sugar tax omitted, lo/no alcohol drinks association launched in the UK and Cuthbert the caterpillar returns
Welcome to RPC Bites. Our aim in the next 2 minutes is to provide you with a flavour of some key legal, regulatory and commercial developments in the Food & Drink sector over the last fortnight… with the occasional bit of industry gossip thrown in for good measure. Enjoy!!
Read moreThe "Legal Minefield" of Witness Statements for Multi-Lingual Witnesses under PD32 and PD57AC
In Bahia v Sidhu(1), the High Court considered the difficulties that arose when a witness provided written statements in English but in practice spoke a mix of two languages (English and Punjabi), and gave evidence through an interpreter. Ultimately, despite expressing reservations about choosing English for the written statements, when seen in the context of cross-examination (both in English and Punjabi) the Court found that the choice of language for the witness statements did not represent a breach of the relevant Civil Procedure Rules (the CPR).
Read moreAPP fraud: Commercial Court considers approach to unjust enrichment and knowing receipt claims
The recent Commercial Court decision of Tecnimont Arabia Limited v National Westminster Bank PLC(1) considered the court's approach to a claim for unjust enrichment against a recipient bank in an authorised push payment (APP) fraud context. In particular, the Court examined whether the enrichment can be said to be at the 'expense' of the claimant, what factors amount to enrichment being 'unjust' and when the defence of 'change of position' is available. In relation to knowing receipt, the court considered the question of when property is 'trust property' for the purposes of the cause of action.
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