The Treasury Committee has written to the FCA on 27 September 2018 concerning the alleged profits made by some Hedge Funds that sold sterling short before the outcome of the Brexit vote was declared. We all will recall the immediate publicly available information at the time was that ‘Remain’ would win with the pound rising above $1.50 in response within [...]
Dispute Resolution Senior Associate David Bowman spoke at this year’s conference of the British Spanish Law Association which took place in Seville from 18 to 20 October 2018. David spoke on the first day of the conference to a gathering of legal professionals from both jurisdictions on the conduct of Civil Litigation in England and Wales (from first consultation to [...]
Lawyer Philip Rubens, from the firm Teacher Stern, is canvassing institutional shareholders and claims to be on the verge of securing third-party funding. He is aiming to make a claim against the AIM-listed firm for losses endured by shareholders after it announced the discovery of “significant, and potentially fraudulent, accounting irregularities” earlier this month. Rubens, head of financial services litigation [...]
Pursuing Criminal Proceeds In 2016/2017 enforcement agencies in the UK confiscated £201 million from criminals using their existing powers, primarily derived from the Proceeds of Crime Act 2002 (POCA). Whilst the headline figure is impressive, before a Confiscation Order can be made the authorities first have to: Bring criminal proceedings and obtain convictions by meeting the ‘beyond a reasonable doubt’ [...]
Over 1 million investors have chosen to invest their pensions via a SIPP and the sums currently held in SIPPS runs into billions of pounds. Inevitably, with such enormous sums involved, the advice on investing in SIPPs and the performance of the SIPP providers themselves has become an increasingly important area which is being scrutinised by disgruntled investors. If a [...]
The liquidation of developers, contractors and sub-contractors are a regular occurrence in both large and small scale construction projects, with the insolvent company often left with claims against other firms involved in the development. The right to adjudicate and then make use of the summary judgment route to enforce the adjudicator’s decision has long been the most powerful tool at [...]
Christopher Philpot, Senior Associate in the Dispute Resolution & Contentious Construction Team at Teacher Stern LLP considers the recent decision of the Supreme Court in Rock Advertising Limited v MWB Business Exchange Centres Limited and the potential impact on parties who verbally agree variations to contract works in circumstances where the contract contains a clause prohibiting oral modification. No Oral [...]
A recent decision in the TCC has established an additional ground to stay enforcement of an adjudicator’s award which, in certain circumstances, could make enforcing an adjudicator’s award more challenging. Case Background Fraser J in Gosvenor London Limited v Aygun Aluminium UK Limited identified a new ground for a party to rely on to stay enforcement of an adjudication award. [...]
On 4 September 2017, the High Court determined an appeal in the case of Wilfried Guemiand Bony v Gilbert Francis Kacou & Ors [2017] EWHC 2146 (Ch). The primary question before the court was whether the proceedings brought by Mr Bony, a professional footballer, should be stayed to allow the matter to be decided under the Football Association’s Rule K [...]
LOFTILY as they may disdain the profit motive, Britain’s judges are, on a national level, money-spinners. English law is often specified as the one under which commercial contracts are to be interpreted and enforced. And disputes often end up being heard in British courts. But, like any business, the law is competitive, and other jurisdictions want to snatch a share [...]
