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Maintaining confidentiality in fund documents: a realistic expectation?

by Dechert LLP on

In this context, the English High Court recently granted an interim injunction preventing the disclosure and publication by Reuters of information from confidential documents relating to a fund manager, Brevan Howard Asset...more

Pursuing non-performing loans in the Middle East A key issue checklist for financial institutions

by DLA Piper on

With liquidity again becoming a serious concern in the region, we are witnessing a sharp uptick in the number of instructions from regional and international lenders relating to (i) regional borrowers failing to repay a loan;...more

Reciprocal enforcement of financial orders

by Hassan Elhais on

The UAE is not a signatory to REMO. Nevertheless, foreign financial orders can be enforced within the UAE however, there can be difficulties as set out below. Enforcement of a foreign order initially requires the commencement...more

Family breeds contempt: the expansion of the tort of conspiracy by unlawful means

by White & Case LLP on

The recent Court of Appeal decision in the long line of Ablyazov cases (Khrapunov v JSC BTA Bank1) has given contempt of court extra steel – being in contempt can constitute "unlawful means" in a tort claim for unlawful means...more

BSA/AML Violations Trigger $215M Consent Order With New York's DFS

Violations of state anti-money laundering laws tripped up the Agricultural Bank of China, which recently entered into a consent order with New York's Department of Financial Services for $215 million....more

First Enforcement of a QIC Judgment in the State of Qatar

by White & Case LLP on

In a landmark case (Protech) last week, a judgment of the Qatar International Court ("QIC") has been successfully enforced by the courts of the State of Qatar....more

Lessons Learned From FCPA Enforcement Against JP Morgan for Sons and Daughters Referral Program

by Michael Volkov on

Last week, the Justice Department and the SEC finally brought to a close the Sons and Daughters or Princelings investigation. Pending investigations against four other companies still remain to be resolved....more

Brexit Produces New Problems for Enforcing Judgments in Europe

In a highly integrated economy like Europe’s, cross-border litigation is common. Oftentimes, a suit may be brought in a court in one EU country against a defendant with assets in many EU countries, so that a judgment from...more

Financial Services Report, Fall 2016

by Morrison & Foerster LLP on

Editor’s Note - So much for summer! The weather is cooling, the kids are back to school, and we better not see you wearing white so long after Labor Day! For those of you having a little trouble getting back in the...more

Liability for breach of obligations

by White & Case LLP on

Resolution of the Plenum of the Supreme Court of the Russian Federation No. 7 dated 24 March 2016 'On courts applying certain provisions of the Civil Code of the Russian Federation concerning liability for a breach of...more

After Favorable LIBOR Ruling from the Second Circuit, Investors Now Allege Anticompetitive SIBOR Manipulation

On July 5, 2016, investors filed a federal class action in the Southern District of New York alleging defendant banks had manipulated the Singapore Interbank Offered Rate (SIBOR) “and/or” Singapore Swap Offer Rate (SOR)...more

UK Market Abuse Regime Extends Its Reach: Implications for Market Participants

by Morgan Lewis on

The new regime shares the same aims as its predecessor—to ensure the integrity of EU financial markets and enhance investor confidence—and keeps pace with market developments such as new trading platforms, new technology, and...more

Which court is which? Brexit could impact on enforcement options for creditors within, and outside, the EU

by Reed Smith on

England has been the jurisdiction of choice for European restructurings. While other jurisdictions have sought to revamp their insolvency law in recent years in an effort to chip away at the English dominance in the...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Supreme Court concluded this week that a suit based on short selling filed in state court alleging state law causes of action was not preempted by the exclusive jurisdiction provision of Exchange Act Section 27 simply...more

UK Financial Regulatory Developments - April 2016 #19

by Dentons on

FCA decides to ban former LIBOR trader - FCA has published its Decision Notice concerning a former derivatives trader at UBS, Arif Hussein, banning him from performing any significant influence function relating to any...more

Your daily dose of financial news The Brief – 4.14.16

by Robins Kaplan LLP on

As promised, the Fed and FDIC have rejected the bankruptcy unwinding plans (or “living wills”) of JPMorgan and 4 other systematically important banks, including Bank of America, Wells Fargo, State Street, and BNY Mellon after...more

The Trans-Pacific Partnership – Webinar Segment 2

by BakerHostetler on

Elliot J. Feldman conducted a webinar for The Knowledge Group on January 8, 2016 on the Trans-Pacific Partnership. Set out below is the essential text of Dr. Feldman’s presentation for segment 2 of that webinar. ...more

NC Business Court Refuses To Enjoin Similar British Lawsuit

by Brooks Pierce on

It's possible to get an NC state court to enjoin a party from pursuing parallel litigation in another American state. But what about enjoining a party before an NC court from pursuing a parallel case in another country?...more

Bribes and the remedy of Tracing

by Bryan Cave on

Relations between companies and businessmen worldwide are often governed by contracts subject to English law. Bribery is – regrettably – common in worldwide business. A discussion as to how English civil law treats a bribe is...more

Indah Kiat Scheme – Preparation is Key

by White & Case LLP on

The judgment of Snowden J. in the adjournment of the convening hearing relating to a scheme of arrangement (the “Scheme”) proposed by Indah Kiat International Finance Company B.V. (“Indah Kiat”) emphasises some important...more

Foley Hoag Climate Update: February 2016

by Foley Hoag LLP on

The Paris Outcome - After two weeks of intense negotiations at the Paris climate conference, 195 countries finally adopted the Paris Agreement and a Decision to limit “the increase in the global average temperature to...more

"Expropriation Damages in Cases Involving Investment Treaties"

Most investment treaties assure investors that, in the event of expropriation, they will receive compensation based on the market value of the enterprise at the time of seizure (excluding the negative valuation effects of any...more

Financial Services Quarterly Report - Fourth Quarter 2015: The VW Case and the German Act on Model Case Proceedings in Disputes...

by Dechert LLP on

Volkswagen AG (VW) has lost more than one-third of its value following the September issuance by the U.S. Environmental Protection Agency (EPA) of a Notice of Violation (NOV) of the Clean Air Act to VW and certain affiliated...more

Hong Kong Competition Ordinance Takes Effect: The Latest Jurisdiction Regulating How Companies Compete

by White & Case LLP on

On December 14, 2015, Hong Kong became the latest jurisdiction to prohibit anticompetitive agreements and unilateral conduct. The Competition Ordinance (Ordinance) is Hong Kong’s first cross-sector competition law for this...more

High Court Reaffirms the Broad Scope of Legal Advice Privilege

by WilmerHale on

In a High Court ruling on 5 November 2015, Mr. Justice Snowden helpfully reaffirmed the established precedent that legal advice privilege is not confined to telling the client the law: it may also attach to factual updates...more

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