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Blog

Down in Flame(s)

29 February 2016

What is the value of money? In a recent Commercial Court decision, it was held that the right to redirect the payment of money (or to give it away) is as valuable as the right to have the money paid into one's own bank account.

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Blog

A liability perspective: what would Brexit mean for financial advisers?

Published on 26 February 2016. By Simon Laird, Global Head of Insurance

You cannot pick up a paper or check the news without seeing some reference to Brexit and the case for either staying in or leaving the Euro zone.

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Publication

Some holiday pay reading

26 February 2016

A new decision on holiday pay and commission.

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Blog

HMRC escapes strike out notwithstanding its unreasonable behaviour in failing to comply with directions issued by the Tribunal

26 February 2016

In the recent case of PGPH Limited v HMRC [2016] UKFTT 46 (TC), the First-tier Tribunal (FTT) declined to exercise its powers under Rule 8 of the Tribunal Procedure (First-tier Tribunal) (Tax Chamber) Rules 2009 (the Rules), to strike out HMRC's case following HMRC's failure properly to comply with a direction issued by the FTT.

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Publication

VAT update

25 February 2016

Commission publishes an Action Plan on VAT

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Blog

A (bright) green light for predictive coding in English litigation

Published on 24 February 2016. By Dan Wyatt, Senior Associate and Simon Hart, Partner

A recent interlocutory judgment in Pyrrho Investments Limited & Anr -v- MWB Property Limited & Ors [2016] EWHC 256 (Ch) endorses, for the first time, the use of predictive coding when conducting disclosure in English civil proceedings.

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Blog

Court of Appeal considers "agreements to agree"

Published on 23 February 2016. By Tim Brown, Partner

The Court of Appeal has addressed a number of issues typically encountered in disputes relating to the sale of goods in Hughes v Pendragon.

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Blog

Under-settlements – what factors does the Court take into account

Published on 22 February 2016. By Rachael Healey, Partner

In Dunhill v W Brook and Co and Crossley a damages claim was brought against solicitors and counsel for under-settling a personal injury claim.

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Blog

Adviser due diligence thematic review report short and not to the point

19 February 2016

There's an irony in a report on due diligence being, in effect, just 2 pages long. The FCA's thematic review report today tells us more by what it doesn't say. What might DD stand for?

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Blog

One man's loss is another man's gain: choice of law rules for unjust enrichment claims

Published on 19 February 2016. By Davina Given, Partner

In a recent case,[1] the English Commercial Court has determined that a claim in restitution based on unjust enrichment was governed by English law pursuant to EU Regulation 864/2007 (Rome II) and not the law of Geneva.

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Blog

TerraLex Cross-Border Copyright Guide 2016

Published on 19 February 2016. By Paul Joseph, Partner and Jeremy Drew, Partner and David Cran, Partner

We are delighted to present our Cross-Border Copyright Guide 2016.

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Blog

High Court dismisses judicial review challenge to HMRC's decision to restrict the availability of the Liechtenstein disclosure facility

Published on 18 February 2016. By Alexis Armitage, Associate

In R (on the application of City Shoes Wholesale Ltd) v Revenue & Customs Commissioners [2016] EWHC 107 (Admin), the High Court rejected an application for judicial review of HMRC's refusal to grant the nine claimants, all of whom had operated employee benefit trusts (EBTs), the full benefits of the Liechtenstein disclosure facility (LDF).

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Publication

Take priority but be reasonable

17 February 2016

On 20 January 2016, Mr Justice Edwards-Stuart handed down his judgment on preliminary issues in Commercial Management (Investments) Limited v (1) Mitchell Design and Construct Limited, and (2) Regorco Limited1

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Blog

Let's call it quits: Cruise ships, capital losses and mitigation

Published on 17 February 2016. By Jake Hardy, Legal Director

In its recent judgment in Fulton Shipping Inc of Panama –v- Globalia Business Travel SAU the Court of Appeal considered a short, but important, point of law in relation to the calculation of damages in English law.

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Blog

At last – the long-awaited price drop in Hong Kong's residential properties?

Published on 17 February 2016. By Adrian Chang, Associate

As with many of the developed cities in the world, Hong Kong faces the phenomenon of a soaring residential property market.

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Blog

Solicitors can owe a limited duty of care to third parties

Published on 16 February 2016. By Sally Lord, Senior Associate

In Caliendo v Mischon de Reya, the Court found that a firm of solicitors had not been retained, either expressly or impliedly, to represent the majority shareholders in respect of the sale of their shareholding in a football club.

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Blog

Hill marches up and down again - MiFID II delayed

Published on 16 February 2016.

Last week, it was confirmed that MiFID II will be delayed for another year.

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Blog

'Disproportionate' disclosure application denied in swaps mis-selling claim

Published on 16 February 2016. By Christopher Whitehouse, Senior Associate and Simon Hart, Partner

In Claverton Holdings Ltd v Barclays Bank plc, the Commercial Court rejected an application by the claimant for specific disclosure against the defendant bank.

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Blog

The end of the low cost insurance scheme?

Published on 15 February 2016. By Sally Lord, Senior Associate

The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have taken disciplinary action against Mr Shay Reches, the firms Coverall and Millburn, and four other related individuals in relation to solicitors' professional indemnity insurance and other insurance scheme failures.

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Blog

The FCA and Upper Tribunal

15 February 2016

The FCA's 'further decision notice' on Mr Tariq Carrimjee (senior partner and CEO of Somerset Asset Management) revealed that, the regulator has taken on board the Tribunal's view that banning Mr Carrimjee from all regulated activity would be 'irrational and disproportionate', and it has instead decided to prohibit him from performing compliance oversight (CF10) and money laundering reporting functions (CF11).

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Blog

Solvency II: concerns raised by UK Treasury and Bank of England

Published on 15 February 2016. By Matthew Griffith, Partner

In only its second month after implementation, the effects of Solvency II have already been called into question by the UK Treasury and the Bank of England, due to its potential impact on long-term investment and the competitiveness of the EEA insurers.

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Blog

Keep your word! Hong Kong Court enforces indemnity for delivery of cargo without original bills

15 February 2016

Shipowners are well aware of the perils of releasing cargo without production of an original bill of lading. In particular, they are likely to lose P&I cover in the event of a misdelivery claim.

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Blog

Tribunal grants 'disclosure' application against HMRC

Published on 12 February 2016. By Adam Craggs, Partner

The recent case of Tower Bridge GP Ltd v HMRC [2016] UKFTT 054 (TC) concerned applications by Tower Bridge GP Limited (Tower Bridge) and HMRC to the First-tier Tribunal (FTT) for disclosure of information and documents from each other, pursuant to Rule 5 of the Tribunal Procedure (First-tier Tribunal) (Tax Chamber) Rules 2009 (the Tribunal Rules).

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Blog

NEC must extend culture and spirit to lawyers to end curse of the Z Clause

11 February 2016

In the NEC Users' Group Newsletter (No.75 November 2015), Rudi Klein – in his article, "Revisiting the curse of the Z clause" (page 2) – remarks that, "Unfortunately, through the 'loophole' of option Z, far too many NEC contracts are amended beyond recognition and fail to deliver as they should".

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Blog

Litigants in person – approach with caution?

10 February 2016

The increase in recent years of the number of litigants in person (LiPs) is largely due to the impact of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (the Act), which came into force on 1 April 2013.

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Blog

Automation isn't the end

09 February 2016

There is something almost apocalyptic about the idea that technology will spell “the end of lawyers”, so it is comforting that research suggests that the near future will be more about the automation of activities than the replacement of entire professions.

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Publication

Employment update, December 2015

09 February 2016

Implied terms: when can a term be implied into a contract?

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Blog

EC's 2015 comms on copyright– appetiser to 2016's main course

Published on 09 February 2016. By Jeremy Drew, Partner and Ciara Cullen, Partner

As part of its Digital Single Market Strategy the European Commission released a Communication entitled "Towards a modern, more European copyright framework" on 9 December 2015.

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Blog

Standstills, FOS and time limits

Published on 08 February 2016. By Rachael Healey, Partner

FOS applies its own time limits when considering complaints.

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Blog

Resolving mistakes in trust deeds and wills – a new, cheaper and quicker approach?

Published on 08 February 2016. By Rachael Healey, Partner

Claims are often made against professionals arising out of errors in trust deeds and wills.

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Blog

Don't leave me this way: SRA to split from the Law Society?

Published on 05 February 2016. By Claire Revell, Senior Associate

From almost a standing start around ten years ago, solicitors are now among the most regulated professionals in the UK.

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Blog

Stand and deliver: what documents must a solicitor deliver up to its client when asked for 'the file'?

Published on 05 February 2016. By Claire Revell, Senior Associate

Most compliance managers or complaints partners will experience that sinking feeling when yet another file request lands on their desks, often with the distinct aroma of a 'fishing expedition'.

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Blog

Tribunal allows taxpayer's appeal and confirms he was carrying on a trade on a commercial basis

05 February 2016

In Akhtar Ali v HMRC [2016] UKFTT 8 (TC), the First-tier Tribunal (FTT), in allowing the taxpayer's appeal, has provided some helpful guidance on the factors to be taken into consideration when deciding whether activities comprise a trade which is commercial, for the purposes of section 66, Income Tax Act 2007 (ITA).

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Blog

No Returns Following Supreme Court Ruling

04 February 2016

The Supreme Court has confirmed that save for exceptional circumstances it is reluctant to step in and imply a rent apportionment clause into a commercial lease.

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Publication

Adjudication - RMP Construction Services Ltd v Chalcroft Ltd

04 February 2016

On 21 December 2015, Stuart-Smith J handed down his decision in RMP Construction Services Ltd v Chalcroft Ltd1 , an action for summary judgment in the Technology and Construction Court to enforce an Adjudicator’s decision.

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Blog

NFL to touchdown in London

04 February 2016

The NFL season is reaching its climax with the Denver Broncos preparing to take on the Carolina Panthers on 7 February in the Super Bowl.

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Blog

Grandfathering grumbles - PRA and FCA highlight failings in S(I)MR

03 February 2016

In the past few days both the PRA and FCA have reminded banks and insurers of the 8 February deadline for the submission of grandfathering notifications for individuals to perform roles under the Senior Managers Regime and the Senior Insurance Managers Regime.

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Publication

Tax update

03 February 2016

Increased SDLT for second homes and buy-to-let properties to apply to all

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Blog

FCA – feeling the political heat?

Published on 02 February 2016. By Matthew Watson, Associate

The FCA escaped a vote of "no confidence" during last night's debate in the House of Commons, despite facing a barrage of scathing remarks from MPs.

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Blog

RPC hosts seminar on 'Data Privacy and the Media'

Published on 02 February 2016. By Alex Wilson, Associate

On 28 January 2016, RPC hosted a 'Question Time' style panel discussion for a range of media lawyers on data protection and its particular relevance to the media industry and media companies.

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Blog

Perceived wisdom – service excellence comes from seeing through the eyes of the client

01 February 2016

So I arrived at the first of GC Magazine's Dissenting Perspectives talks not really knowing what to expect.

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Blog

Borrow My Brand

Published on 01 February 2016. By Rachael Ellis, Associate

Businesses, do you want to boost your brand? The answer is simple - borrow someone else's. Perhaps most prominent in the fashion world, 'brand borrowing' is the concept of one brand procuring the use of another brand’s name or logo for their products.

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Blog

FCA announces consultation on role of GCs in regulated firms

29 January 2016

We are so accustomed to dissembling by politicians and others in public life that it is heartening to see individuals or institutions that are prepared to acknowledge responsibility for their mistakes.

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Blog

47% decrease in claims against solicitors – a false sense of security?

29 January 2016

2015 saw a 47% decline in the number of professional negligence cases brought against solicitors to 221, down significantly from 418 in 2014.

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Blog

Court of Appeal confirms validity of third party information notices

Published on 29 January 2016. By Adam Craggs, Partner

In Derrin Brothers Properties Limited & Others v HMRC [2016] EWCA Civ 15, the Court of Appeal has dismissed the Appellants' appeal against the High Court's refusal to quash third party information notices issued by HMRC pursuant to paragraph 2, Schedule 36, Finance Act 2008 (the Notices).

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Publication

Corporate tax update

29 January 2016

Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team and published quarterly. In this edition we highlight some of the key tax developments of interest to UK corporates from the final quarter of 2015.

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Publication

VAT update

28 January 2016

Brief 22/15 – VAT partial exemption changes concerning foreign branches

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Blog

Stuck in the middle with (section) 52

Published on 28 January 2016. By Paul Joseph, Partner and Georgia Davis, Legal Director

IPO Consultation on the transitional arrangements for the repeal of Section 52 of the CDPA

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Press and Media

RPC expands corporate, dispute resolution, and insurance capability in Asia with Singapore JLV

28 January 2016

Leading law firm RPC today announced that it is entering into a joint law venture (JLV) with established Singapore-based practice Premier Law.

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Publication

Do receivers owe duties to bankrupt mortgagors?

27 January 2016

The Court of Appeal has recently considered whether an LPA Receiver owes a duty of care to a bankrupt mortgagor in connection with the way the Receiver deals with the mortgaged property. In a decision which will be welcomed by Receivers and their insurers, the court decided that a Receiver owes no such duties.

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