Recent judgments in the UK consider Quincecare duty of care relevant to deposit holding financial institutions processing payment mandates

The UK Supreme Court has recently upheld a claim for breach of the so-called Quincecare duty of care, which requires a financial institution to refrain from executing a customer’s payment mandate if (and so long as) it is “put on inquiry” that the payment order is an attempt to misappropriate its customer’s funds: Singularis Holdings … Read more

Hong Kong–Mainland interim relief arrangement takes effect today, 1 October

The Arrangement Concerning Mutual Assistance in Court-ordered Interim Measures in Aid of Arbitral Proceedings by the Courts of the Mainland and of the Hong Kong Special Administrative Region takes effect today, 1 October 2019, in both Mainland China and Hong Kong.  The SPC has also released an explanatory memo setting out its understanding of key aspects … Read more

HONG KONG: COURT GRANTS ANTI-SUIT INJUNCTION TO RESTRAIN FOREIGN PROCEEDINGS IN BREACH OF AN ARBITRATION AGREEMENT UNDER AN INSURANCE POLICY

In the recent case of AIG Insurance Hong Kong Ltd v Lynn McCullough and William McCullough [2019] HKCFI 1649, the Hong Kong Court of First Instance (CFI) considered the effect of an arbitration agreement under an insurance policy and, in particular, the circumstances in which an anti-suit injunction may be granted to restrain a party … Read more

Hong Kong: Court considers extended scope of springboard injunctions

The scope for springboard injunctions in Hong Kong has been confirmed by the Hong Kong Court of First Instance (CFI) as extending to circumstances where contractual or fiduciary duties have been breached. The CFI found, in McLarens Hong Kong Ltd v Poon Chi Fai Corey, that a breach by senior employees of their fiduciary duties … Read more