Commercial Litigation

COURT OF APPEAL DECISION IN ENRC: ORTHODOXY RESTORED ON LITIGATION PRIVILEGE, BUT NARROW INTERPRETATION OF “CLIENT” REMAINS FOR NOW

The Court of Appeal has today handed down its eagerly awaited decision in the ENRC appeal: The Director of the Serious Fraud Office v Eurasian Natural Resources Corporation Ltd [2018] EWCA Civ 2006. At first instance, the High Court took a restrictive … Continue reading

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Filed under Announcements, Commercial Litigation, Corporate Crime, Investigations, Sector Updates by Herbert Smith Freehills, UK, UK Legislation

High Court decision supports orthodox view of litigation privilege in an investigations context

The High Court has found that documents prepared by a defendant in the course of an investigation into allegations by HMRC were protected by litigation privilege: Bilta (UK) Ltd (in liquidation) & ors v Royal Bank of Scotland Plc & anor [2017] EWHC … Continue reading

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Filed under Commercial Litigation, Corporate Crime, Investigations, UK

Managing risk: a disputes perspective (2017)

Herbert Smith Freehills recently held its annual disputes client conference exploring some key legal and compliance risks facing major corporates. Following opening remarks by Mark Shillito, head of dispute resolution for the UK and US, there were presentations on cyber … Continue reading

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Filed under Banking, Commercial Litigation, Insurance, Investigations, Investment banking, Investment Funds, Retail Banks, UK

UK: no Suremime-type duty of care owed directly to customer in connection with past business review

Six months after the High Court's surprising judgment in Suremime Limited v Barclays Bank plc [2015] EWHC 2277 (QB), the recent decision in CGL Group Limited v Royal Bank of Scotland [2016] EWHC 281 (QB) will be encouraging for financial … Continue reading

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Filed under Asset management, Banking, Commercial Litigation, Funds, Insurance, Investment banking

UK Court orders disclosure of confidential SFO and client documents: Harlequin Property (SVG) Ltd & Anor v Wilkins Kennedy

The recent case management decision in Harlequin Property (SVG) Ltd and Another v Wilkins Kennedy [2015] EWHC 3050 (TCC) considered an application by the Defendant to withhold documents from inspection on the basis of confidentiality. The documents in question fell … Continue reading

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Filed under Commercial Litigation, UK

UK: Court of Appeal considers limitations on the principle of business common sense as an aid to contractual interpretation

The recent Court of Appeal decision in Wood v Sureterm Direct Ltd & Capita Insurance Services Ltd [2015] EWCA Civ 839 gives further guidance on the use of business/commercial common sense as an aid to contractual construction. In reversing the … Continue reading

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Filed under Banking, Commercial Litigation, Insurance, UK

UK FCA past business reviews: what duties, if any, do financial institutions owe directly to customers? High Court finds no contractual obligations, but tortious duties are arguable

The recent and somewhat surprising decision of the High Court in Suremime Limited v Barclays Bank plc [2015] EWHC 2277 (QB) is important to any financial institution that has agreed to conduct an FCA past business review or redress exercise. … Continue reading

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Filed under Banking, Commercial Litigation, FCA, Retail Banks

UK: New pilots of streamlined procedures for claims in the main business courts

Two pilot schemes, the Shorter Trials Scheme and the Flexible Trials Scheme, will be introduced for claims commenced from 1 October and will run for a period of two years. The schemes allow for shorter and more flexible procedures for claims brought … Continue reading

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Filed under Banking, Commercial Litigation

German Federal Supreme Court: a pro-forma application for conciliation of an insufficiently specified misselling claim will not be effective to suspend limitation

In a landmark decision dated 18 June 2015, the German Federal Supreme Court (Bundesgerichtshof, “BGH”) decided that pro-forma applications for conciliation (Güteverfahren) do not suspend the limitation period for misselling claims if the applications are too generic and do not … Continue reading

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Filed under Asset management, Banking, Commercial Litigation, Germany, Insurance, Investment Funds

Irish court endorses use of predictive coding for disclosure

A recent decision of the High Court in the Republic of Ireland has endorsed the use of predictive coding for a disclosure exercise, rejecting the opposing party’s insistence on a linear manual review of all the keyword responsive documents and … Continue reading

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Filed under Commercial Litigation, Europe