Lakatamia Shipping Company Ltd v Su and others [2024] EWHC 1749 (Comm) illustrates how the Babanaft proviso typically included in a worldwide freezing order may serve to limit the liability of foreign third parties who...more
In Deutsche Bank AG v RusChemAlliance LLC [2023] EWCA Civ 1144, the English Court of Appeal granted an anti-suit injunction to restrain Russian court proceedings brought in breach of an agreement to arbitrate in Paris,...more
A challenge to a Court judgment on grounds of fraud brings into conflict two fundamental principles of English law: (i) the finality of judgments; and (ii) the principle that fraud unravels all. Given the importance of the...more
The English Court's jurisdiction to grant freezing injunctions has been the subject of considerable judicial attention in recent years. In Convoy Collateral v Broad Idea,1 the Privy Council "laid to rest" the House of Lords'...more
The English High Court has sanctioned a restructuring plan in respect of EUR 3.2 billion of bonds issued by the German real estate business, Adler Group. The main objective of the plan was to avoid Adler's imminent insolvency...more
Recently, the Supreme Court of the United Kingdom released its judgment in BTI 2014 LLC v Sequana SA1. This marks the first occasion on which the nature, scope and content of directors' duties to creditors when a company is...more
In its long-awaited judgment, the English High Court1 has found that the British software firm Autonomy defrauded the US tech giant Hewlett-Packard (HP) and induced its own acquisition for the price of US$11.1bn...more
5/27/2022
/ Acquisitions ,
Antitrust Litigation ,
Appeals ,
Business Litigation ,
Corporate Governance ,
Damages ,
EU ,
Fraud ,
Hewlett-Packard ,
Investors ,
Misrepresentation ,
Startups ,
Technology Sector
Forged warehouse receipts have proved fertile ground for commodity finance disputes in recent years. In Natixis S.A. v Marex Financial and Access World Logistics (Singapore) Pte Ltd1 the Commercial Court delivered a judgment...more
This year has seen continued enthusiasm for the use of SPACs when taking companies public. While this boom has been particularly pronounced in the US, there are increasing signs that a similar trend may be about to emerge in...more
In recent years, demands for payments in cryptocurrencies have become the ransom of choice for cyber extortionists and other online frauds. The COVID-19 pandemic and resulting public health lockdowns precipitated an...more
In a rare successful challenge to an arbitration award under section 68 of the Arbitration Act 1996, the Commercial Court remitted parts of an award for reconsideration by the tribunal. The Court found that a computational...more
The Court of Appeal has confirmed in Bank St Petersburg PJSC v Vitaly Arkhangelsky that the correct standard of proof where issues of dishonesty arise is not a ‘heightened’ civil standard, but the balance of probabilities....more
4/2/2020
/ Appeals ,
Burden of Proof ,
Complex Litigation ,
Counterclaims ,
Evidentiary Rulings ,
Evidentiary Standards ,
Fraud ,
Pleading Standards ,
Remand ,
Reversal ,
Standard of Review ,
UK
National Bank Trust v Ilya Yurov & Ors [2020] EWHC 100 (Comm) provides a useful insight to the English Court's approach to pleading and evidencing fraud, emphasising the importance of properly particularised claims and...more
3/5/2020
/ Admissible Evidence ,
Banks ,
Breach of Duty ,
Bribery ,
Burden of Proof ,
Circumstantial Evidence ,
Civil Conspiracy ,
Cross Examination ,
Document Productions ,
Fraud ,
Litigation Strategies ,
Pleading Standards ,
Pleadings ,
Ponzi Scheme ,
Shareholders ,
Standard of Proof ,
UK ,
Witness Statements
In perhaps the clearest statement on this issue to date, the Court of Appeal in The Civil Aviation Authority v R (on the application of Jet2.com Limited), has confirmed the "dominant purpose" test for legal advice privilege....more
In Vneshprombank LLC v Georgy Bedzhamov and ors [2019] EWCA Civ 1992 the Court of Appeal reaffirmed the approach to ascertaining the "ordinary living expenses" of a respondent to a freezing injunction....more
In an important judgment on the interpretation of section 90A of the Financial Services and Markets Act 2000, Tesco Plc failed to strike out two group litigation actions brought in relation to allegedly false and misleading...more
11/8/2019
/ False Statements ,
FSMA ,
Illegal Profits ,
Investor Protection ,
Misleading Statements ,
Motion To Strike ,
Offering Fraud ,
Private Right of Action ,
Statutory Remedies ,
Trading Policies ,
UK
In PJSC Tatneft v Bogolyubov [2019] EWHC 1400 (Comm) the High Court gave a useful indication as to the readiness of the English Courts to award security for costs against a Russian domiciled claimant, in view of perceived...more
7/18/2019
/ Business Assets ,
Cyprus ,
Foreign Defendants ,
International Litigation ,
Judicial Discretion ,
Litigation Fees & Costs ,
Order for Security of Costs ,
Post-Judgment Enforcement Actions ,
Russia ,
Switzerland ,
UK
Within a decade, the UK's peer-to-peer (P2P) financial services sector has moved from an offbeat outsider to an increasingly significant and permanent player in loan and equity markets.
Total lending facilitated by UK P2P...more
7/3/2019
/ Equity Markets ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Innovation ,
Lenders ,
Loans ,
Marketing ,
Peer-to-Peer ,
Risk Management ,
Trade Restrictions ,
UK
The increasing accessibility of digital media has enabled businesses to become not only readers, but also publishers of their own information and opinions. This in turn requires due consideration of the limits of what can,...more
6/24/2019
/ Appeals ,
Defamation ,
Digital Media ,
Dismissals ,
Libel ,
Newspapers ,
Reputational Injury ,
Reversal ,
Serious Harm Standard ,
UK ,
UK Supreme Court
In a decision handed down last week, Jofa Limited and Joseph Farah v Benherst Finance Limited and Chestone Industry Holding [2019] EWCA Civ 899, the Court of Appeal considered the rules regarding the costs of applications for...more
6/10/2019
/ Appeals ,
Disclosure ,
Document Productions ,
Duty of Confidentiality ,
Financial Institutions ,
Fraud ,
Litigation Fees & Costs ,
Norwich Orders ,
Pre-Suit Investigation ,
Request for Production ,
Third-Party ,
UK
In a decision handed down last week, Michael Wilson & Partners Ltd v John Forster Emmott [2019] EWCA Civ 219, the Court of Appeal has reviewed the authorities relating to removing, following judgment, the so-called Angel Bell...more
3/12/2019
/ Angel Bell Exceptions ,
Appeals ,
Arbitration Awards ,
Asset Freeze ,
Carve Out Provisions ,
Freeze Order ,
Judgment Debtors ,
Mareva Injunctions ,
Ordinary Course of Business Defense ,
Post-Judgment Enforcement Actions ,
Reaffirmation ,
UK