The Hong Kong Court of Appeal has suggested that a previous Court decision may have overstepped the mark by suggesting that an arbitration clause in a client agreement should generally take precedence over a creditor's right...more
Hogan Lovells’ global team of securities and professional liability lawyers is uniquely positioned to monitor legal developments across the globe that impact accountants’ liability risk. We have experienced lawyers on five...more
8/26/2019
/ Accountant Malpractice ,
Accountants ,
Accounting ,
Duty of Care ,
Economic Sanctions ,
Enforcement Actions ,
Fines ,
Germany ,
Hong Kong ,
Memorandum of Understanding ,
Netherlands ,
Professional Liability ,
Prospectus ,
Regulatory Standards ,
Spain
Hong Kong's Court of Final Appeal (CFA) has ruled in favor of a senior immigration officer in his battle to have his marriage to British citizen officially recognized.
...more
The English High Court, in Triumph Controls UK Ltd v Primus International Holding Co [2019] EWHC 565 (TCC), has found that proper, accurate financial projections by the sellers would have resulted in a lower purchase price...more
4/8/2019
/ Aerospace ,
Breach of Warranty ,
Damages ,
Defense Sector ,
Disclosure ,
Inflated Projections ,
Multinationals ,
Purchase Price ,
Revenue ,
Selling a Business ,
Share Purchase Agreements ,
UK ,
UK Supreme Court
The Court of Appeal has upheld a "springboard" injunction (albeit reduced in scope) in the latest case to deal with the issue of unlawful "team lifts"....more
On 4 July 2018, the Court of Appeal in the UK handed down its judgment in AAA and Others v Unilever PLC and Another [2018] EWCA Civ 1532, in which the claimants sued Unilever PLC (Unilever) in tort for acts of its subsidiary...more
In March, the UK Supreme Court handed down a landmark judgment, in which it held that:
- contempt of court constitutes unlawful means for the purposes of the tort of unlawful means conspiracy, giving rise to a private...more
A recent UK Supreme Court case has decided that the current test for dishonesty in criminal proceedings should no longer be used when directing juries on the law in criminal cases. The Ghosh test, which has represented...more
In late February, the SFC published its Enforcement Reporter setting out its enforcement priorities and approaches for 2018. The SFC emphasized its enhanced cross-divisional collaborative approach with more targeted...more
3/12/2018
/ Consumer Financial Products ,
Corporate Fraud ,
Corporate Misconduct ,
Corruption ,
Cross-Border Transactions ,
Enforcement Actions ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Hong Kong Stock Exchange ,
Insider Trading ,
Money Laundering ,
White Collar Crimes
On 8 February 2018, the Hong Kong Court of First Instance (the “Hong Kong Court“) ruled that the common law power to recognise and assist foreign insolvency proceedings extends to voluntary liquidations – this is the first...more
The Hong Kong Court has confirmed that a bank notified of a freezing injunction does not owe a duty of care to the party in whose favour the injunction is granted. ...more
This case is the latest in a line of cases before the English courts about parent company liability, specifically the duty of care owed for activities of their subsidiaries. ...more
The Market Misconduct Tribunal (MMT) recently disagreed with the Securities and Futures Commission, holding that an executive director and a number of non-executive directors did not commit the market misconduct of...more
The Hong Kong Competition Ordinance ("Ordinance") does not currently provide for the right to bring stand-alone private actions for contraventions of competition rules. In a decision handed down on 27 April 2017, the High...more
In another decision against the SFC, the Market Misconduct Tribunal ("MMT") has found Mr Cheng Chak Ngok ("Mr Cheng"), former executive director, chief financial officer and company secretary of ENN Energy Holdings Limited,...more
The question of how willing the court is to impose fiduciary duties on a person informally involved in a company has, to an extent, been answered by the case of Karla Otto Ltd v Bulent Eren Bayram (24 February 2017). Such...more