Latest bank victory – Hong Kong High Court dismisses mis-selling claim

The Hong Kong Court of First Instance has recently handed down its judgment in Shine Grace Investment Ltd v. Citibank, N.A. and Another (HCCL 28/2008), a case relating to alleged mis-selling of equity accumulator contracts by Citibank. In dismissing the plaintiff’s claim, Mr Justice Peter Ng applied the Hong Kong Court of Appeal’s (CA’s) reasoning … Read more

UK SUPREME COURT CLARIFIES LEGAL POSITION ON “NO ORAL MODIFICATION” CONTRACTUAL CLAUSES

Parties to commercial contracts often insert a “no oral modification” (or NOM) clause to prevent attempts to undermine written agreements by informal means. Such clauses are intended to prevent contracting parties being bound by subsequent variations unless the specified formalities (for example, it is fairly typical in commercial contracts that a variation must be recorded … Read more

Herbert Smith Freehills sponsors and contributes chapters to the recently published First Edition of Getting the Deal Through – Financial Services Litigation 2016

In the light of the global growth of litigation in the financial sector following the financial crisis, Herbert Smith Freehills has sponsored 'Getting The Deal Through' for the launch of the first edition of the guide to Financial Services Litigation 2016.  The guide charts the growth of litigation in the financial sector worldwide and answers … Read more

Hong Kong: Court of First Instance holds that litigation commenced in breach of a company’s articles of association is liable to be struck out

In Yifung Developments Limited v Ricky Liu Chi Keung & others (HCA 1341/2014), the Court of First Instance held that where a company fails to comply with relevant provisions in its articles of association regarding the commencement of litigation, the courts have inherent jurisdiction to strike out such a claim. Interestingly, Hon Au Yeung J … Read more