38 results
18 Jan 2019 15:23
Receivables Finance: the prohibition on assignment is now in forceThe Business Contract Terms (Assignment of Receivables) Regulations 2018 came into force on 31 December 2018 meaning that parties to a contract in the UK may no longer be able to prohibit the assignment of receivables arising in respect of supplies made under it, even if it is a long term supply more...
10 Jan 2019 12:02
Loyalty penalty super-complaint – An updateThe Competition and Markets Authority and the Financial Conduct Authority have responded to the Citizens Advice super-complaint about the so-called ‘loyalty penalty’ affecting long-term existing customers in the mobile, broadband, cash savings, home insurance and mortgages markets. Walker Morris’ more...
8 Jan 2019 12:24
McDonagh v Bank of Scotland & Others [2018] EWHC 3262 (Ch)McDonagh v Bank of Scotland & Others [2018] EWHC 3262 (Ch) concerned a dispute between a borrower, Mr McDonagh (“the Claimant”) and a lender, Bank of Scotland (“the Bank”) in respect of the borrower’s default on a loan facility which had been used to refinance commercial property in an out of more...
7 Jan 2019 11:39
Newsflash: Various FCA reports, proposals and guidance issued 18 December 2018On 18 December 2018 the Financial Conduct Authority published various items relating to consumers and credit of which lenders and social landlords should be aware: The FCA has made new rules strengthening protections for consumers using doorstep lending, catalogue credit and store cards. Some of more...
6 Dec 2018 14:10
Permission to Challenge a Trustee in Bankruptcy’s RemunerationJames Davies analyses the case of Singh v Hicken [2018] EWHC 3277 (Ch); an appeal against the decision of a County Court judge refusing permission to Mr Singh, a discharged bankrupt, to challenge his trustee’s remuneration. Under Insolvency Rule 2016 18.35 the permission of the court is required more...
28 Nov 2018 15:50
Welcome outcome for lenders, despite fraud and mistakeIn Santander UK plc v Fletcher & Anor [footnote 1], Mrs Fletcher appealed against a County Court decision allowing the mortgage lender, Santander, a right of sale in respect of her home, despite the court also finding that the mortgage should be set aside on the grounds of undue influence. Banking more...
28 Nov 2018 14:11
No implied agreement/duties between bank and commercial borrowerThe High Court has resisted a commercial borrower’s attempt to imply an over-arching contractual agreement and equitable duties between it and its lender. Walker Morris’ Banking & Finance Litigation partners Rob Aberdein and Richard Sandford comment on the recent case of Standish v Royal Bank of more...
26 Nov 2018 11:59
Final means final (or does it?) Supreme Court confirmation in Dooneen v MondThe Supreme Court has handed down judgment in Scottish case Dooneen Ltd v Mond [footnote 1], giving important clarity for creditors, debtors, trustees and financial institutions as to the correct construction of the words “final distribution” in a voluntary trust deed. Walker Morris’ Banking and more...
23 Nov 2018 09:07
Disclosure: Important changes to procedure and practiceWhat is changing, and why? Whilst the full ‘cards on the table’ approach to disclosure in England and Wales may be an important aspect of the litigation process in England and Wales, it can often prove disproportionately expensive. The explosion in the volume of electronic data in recent years is more...
30 Oct 2018 11:03
Cryptocurrency & Law: Is global regulation possible?It’s been nine years since the release of the world’s first ever ‘Cryptocurrency’, Bitcoin, so how will law adapt towards the new and ever-developing virtual financial system in times to come? At present, the ‘legal status’ of cryptocurrencies varies between countries, especially with the continual more...
22 Oct 2018 10:09
Sean Larkin QC and Tom Broomfield appear in ex-UBS compliance officer insider trading matterFabiana Abdel-Malek, a former compliance officer at UBS, appears today at Southwark Crown Court charged with five counts of insider trading. Walid Chocair, a day trader, is also on trial accused of placing trades in stocks based upon insider information supplied by Ms Abdel-Malek. Sean Larkin QC has more...
18 Oct 2018 09:22
Push payment fraud: Update Autumn 2018Banking & Finance Litigation specialists Louise Power and Rachel Elgar report on the Payment Systems Regulator’s (PSR) recent proposals for dealing with push payment fraud. What is push payment fraud? Payments are described as ‘push payments’ when the payer obtains the payee’s account details and more...
2 Oct 2018 16:02
Newsflash: Cardiff v Flowers rule change confirmed and in effectRob Aberdein and Justin Coley explain a key change to the Civil Procedure Rules (CPR) following the Cardiff CC v Flowers consultation on enforcement of suspended possession orders. Key change comes into effect In August we explained proposed changes to the CPR following the Cardiff CC v Flowers more...
Cross-Border Insolvency Regulations Unlikely to Provide Safety Net for Recognition of Foreign Proceedings Following Brexit; Rule in Gibbs to Be Challenged
The application of the Cross Border Insolvency Regulations 2006 (CBIR), which contain the UNCITRAL Model Law, in English courts has been central to two major overseas restructurings in the past few months. In the restructurings of both Agrokor dd and the International Bank of Azerbaijan, foreign more...
Great Repeal Bill, UK Still Has to Negotiate For Judgments, Proceedings Recognition Under Brussels and EU Insolvency Regulations
The first draft of the anticipated “Great Repeal Bill” was published in July 2017 by the U.K. government. The bill sets out that from the outset of Brexit, the vast majority of existing EU law adopted by the U.K. will be incorporated into domestic legislation. This means that EU legislation, which more...
1 May 2018 10:55
Congratulations to Andrew Bird & James Fletcher for their inclusion in Who's Who legal 2018 edition5SAH would like to congratulate Andrew Bird and James Fletcher for their inclusion in Who's Who legal 2018 edition. Andrew Bird has been ranked in the guide for his work within asset recovery and James Fletcher continues to be ranked for his work within the field of criminal fraud. Andrew Bird is more...
End Of The Road for LIBOR Rigging Claims; or Just a Detour?
The Court of Appeal's decision in Property Alliance Group v RBS [2018] EWCA Civ 355 is a decisive victory for RBS over PAG. However, the door has undoubtedly been opened for other potential claimants. While the CA also made some significant findings on the bank's advisory duties and implied more...
14 Feb 2018 16:08
Wilberforce features in two of The Lawyer’s Top 20 Cases of 2018Wilberforce Chambers appears in two of The Lawyer’s Top 20 cases of 2018, identifying the year’s most talked about disputes. Five members are involved: John Wardell QC, Andrew Mold and Tim Matthewson opposite Paul Newman QC in KeyMed Ltd v Michael Woodford and Paul Hillman, and Edward Sawyer more...
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