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Auditors’ liability – English case casts doubt on effectiveness of disclaimers in negligence actions

A recent English case may cause concern amongst Hong Kong auditors hoping to protect themselves from liability towards third parties by the inclusion of standard disclaimer wording in their engagement agreements. The decision...more

5/23/2024  /  Auditors , Audits , Duty of Care , Negligence , UK

Financial Institutions Horizons 2023

The outlook for 2023 looks uncertain, following another tumultuous year. The collapse of a number of large cryptocurrency exchanges has shone another spotlight on the digital asset market. The financial system’s resilience...more

New Release: Insurance Horizons Brochure 2021

The global pandemic brought a wave of changes and developments that have impacted, and continue to impact, the insurance sector. As we look ahead, we see further change on the horizon. Around the world, we continue to...more

Up, up, and...not away - English High Court faults SPA target in the aerospace industry for inadequate financial projections

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

Unlawful team lifts: the English Court of Appeal backs the High Court's decision to spring into action

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

Ghosh is gone - now a one-stage test for dishonesty?

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

Parent company may owe a duty of care to employees of African subsidiary

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

Formalize your arrangements, don't rely on a love affair

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

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