The Digital Euro project is the European Central Bank’s (ECB) response to the changing landscape of consumer payments, driven by the rise of cryptocurrency, payment fintechs and electronic transactions. A Digital Euro would...more
8/7/2023
/ Central Bank Digital Currency (CBDCs) ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Digital Markets Strategy ,
EU ,
European Central Bank ,
Financial Institutions ,
Financial Regulatory Reform ,
Popular ,
Regulatory Agenda
Foreign states formally recognised by the UK government have unlimited capacity, the UK Supreme Court has confirmed, in a significant decision in long running litigation between a trustee for Eurobonds (held by Russia) and...more
In the absence of consent by the state, a party will not be able to obtain an anti-suit injunction against a state (nor any other injunction or order for specific performance). Venezuela was entitled to claim immunity under...more
The end of the Brexit transition period on 31 December 2021 marked a period of momentous change in the field of private international law, with the UK departing from long standing regimes covering the allocation of...more
An asymmetric jurisdiction agreement is an exclusive jurisdiction agreement for the purposes of the “anti torpedo” provisions of the Brussels Recast Regulation. This means that the court given exclusive jurisdiction for the...more
Following months of protracted negotiations and coming four and a half years after the UK voted to leave the EU, 24 December 2020 saw the EU and UK finally agree the shape of their future relationship. While the Trade and...more
The High Court distinguished the Supreme Court decision of Lungowe v Vedanta Resources plc (Vedanta),1 giving more weight to the desirability of avoiding multiplicity of actions and the risk of inconsistent judgments when...more
Sovereign immunity is a complex topic. This bulletin highlights key points to consider, particularly when drafting or reviewing a sovereign immunity waiver clause, from an English law perspective (as applied by the English...more
The procedure for serving English proceedings on a foreign State under s12 State Immunity Act 1978 (SIA 1978) has been helpfully clarified. Where a claimant has to rely on the Foreign and Commonwealth Office (FCO) to effect...more
Last week was a busy week on the road to Brexit. The EU 27 and the UK both gave broad indications of how they plan to approach the Brexit negotiations, via the publication of three documents: the UK’s Article 50 notice, a...more
From 18 January 2017, claimants will be able to apply for a European Account Preservation Order (EAPO), a new, and potentially potent, weapon in their litigation armoury pursuant to the new European EAPO Regulation...more
In a hugely important constitutional and political decision, the English High Court has today ruled against the UK Government, declaring that the Government cannot trigger the process of leaving the European Union without the...more
An automotive component producer and an insurer have separately challenged the jurisdiction of the High Court in Iveco SpA & Iveco Ltd v Magna Electronics Srl [2015] EWHC 2887 (TCC), 13 November 2015 & XL Insurance Co SE v...more
2/22/2016
/ Automotive Industry ,
Breach of Contract ,
Contribution Claims ,
EU ,
France ,
Insurance Litigation ,
International Litigation ,
Italy ,
Joint Tortfeasors ,
Jurisdiction ,
UK
A bank's attempt to characterise performance bonds as guarantees failed in a further example of the English Court's strict approach to construction of "on-demand" payment obligations. In a decision which provides some...more
A lender's internal interest rate swap was not a "funding transaction" under the terms of a loan agreement. This meant that the borrowers were not liable to pay the costs of unwinding the internal swap in the event they...more
The English civil justice system operates in an ever more globalised and competitive market, with international businesses seeking not only robust enforceable decisions, but also efficiently delivered ones. These proposals...more
To what extent, if at all, does the English court have discretion to decline jurisdiction over proceedings commenced on the basis of domicile of the defendant, if the appropriate forum is a third state court? In particular,...more
The original Brussels Regulation (Regulation (EC) 44/2001) was the key European instrument on jurisdiction and enforcement issues in civil and commercial matters. It was applied by the courts of all 28 EU member states. Since...more
In Martrade Shipping & Transport GmbH v United Enterprises Corp [2014] EWHC 1884 (Comm), 12 June 2014, Popplewell J considered the application of the Late Payment of Commercial Debts (Interest) Act 1998 (the 1998 Act) to...more
A new regulation establishing a European Account Preservation Order (EAPO) came into force on 17 July 2014 and will be applied by participating Member State courts from 18 January 2017. This instrument represents a new (and...more
This article looks at the concerns with Council Regulation (EC) 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (Brussels Regulation) and examines how far they are...more
Following the 2008 financial crisis, there has been greater focus by commercial parties on dispute resolution provisions in transaction documents. At the drafting stage, where (and how) parties' disputes are to be determined...more