On 21 February 2025, the UK Competition Appeal Tribunal (CAT) unanimously dismissed Stellantis's claim for €770 million in damages against Autoliv, a leading global manufacturer of automotive occupant safety systems ("OSS"),...more
In its 19 December 2024 judgment, the Competition Appeal Tribunal (CAT) unanimously rejected Mr Le Patourel’s excessive pricing claim against BT. This was the UK’s first opt-out collective action to proceed to trial, and will...more
In a heavy blow to the litigation funding industry, the UK Supreme Court has held that many litigation funding agreements are damages-based agreements and must comply with the relevant regulatory regime. Funders will be...more
In Tulip Trading Limited v Bitcoin Association for BSV, the High Court summarily dismissed Tulip's claim against certain bitcoin software developers and controllers. In doing so, the Court held that cryptoasset software...more
In Philipp v Barclays Bank UK PLC, the Court of Appeal held that the Quincecare duty may apply to direct customer instructions (not just those through an agent), such that banks may be liable for failing to protect against...more
3/24/2022
/ Appeals ,
Banking Sector ,
Banks ,
Duty of Care ,
Financial Crimes ,
Financial Institutions ,
Fraud ,
International Litigation ,
Policies and Procedures ,
Standard of Care ,
UK
In BritNed v ABB, the English Court of Appeal substantially reduced the UK's first award of damages in a so-called cartel damages claim brought for breach of European competition law. In so doing, the Court rejected calls for...more
11/11/2019
/ Antitrust Violations ,
Appeals ,
Breach of Competition Law ,
Burden of Proof ,
Calculation of Damages ,
Cartels ,
Compensatory Damages ,
Compound Interest ,
Damage Caps ,
Damages ,
Electricity ,
European Commission ,
Infringement ,
Lost Profits ,
Power Grid ,
Punitive Damages ,
Remittitur ,
Treaty on the Functioning of the European Union (TFEU) ,
UK
In Singularis Holdings Ltd (In Official Liquidation) v Daiwa Capital Markets Europe Ltd ([2019] UKSC 50), the Supreme Court upheld the first successful claim in negligence by a customer of a financial institution for breach...more
11/6/2019
/ Appeals ,
Banking Sector ,
Breach of Duty ,
Causation ,
Dismissals ,
Duty of Care ,
Financial Crimes ,
Financial Institutions ,
Fraud ,
Investment Banks ,
Investment Management ,
Liquidation ,
Misappropriation ,
Negligence ,
Subsidiaries ,
UK ,
UK Supreme Court
As sanctions ramp up globally, it is increasingly important for commercial parties engaged in cross border transactions to have certainty (i) as promisees (e.g. lenders) as to when their counterparties may legitimately avoid...more
10/7/2019
/ Affirmative Defenses ,
Borrowers ,
Breach of Contract ,
Civil Monetary Penalty ,
Contract Formation ,
Contract Negotiations ,
Contract Terms ,
Cross-Border Transactions ,
Default ,
Economic Sanctions ,
Extraterritoriality Rules ,
Foreign Policy ,
Lenders ,
Risk Management ,
Secondary Sanctions ,
UK
One of the multitude of uncertainties currently facing commercial parties potentially affected by Brexit is the effect on their existing commercial contracts, specifically whether the new circumstances of Brexit provide a...more
3/2/2019
/ Assignment of Rents (AOR) ,
Assumption of the Risk ,
Breach of Contract ,
Commercial Leases ,
Contract Termination ,
EU ,
European Medicines Agency (EMA) ,
Frustration of a Common Purpose ,
No-Deal Brexit ,
Subletting ,
Supervening Illegality ,
UK ,
UK Brexit