UK Court of Appeal allows private LIBOR claims to proceed

An issue which has in recent years been on the agenda of financial regulators globally is the potential manipulation or fixing of the London InterBank Offered Rate (“LIBOR”) and similar rates, by financial institutions.  Given that the LIBOR and similar rates are used as interest rate benchmarks for a broad range of financial instruments, the … Read more

English & Hong Kong Courts refuse to infer common law duty of care in mis-selling claims involving non-advisory contracts

An English Court of Appeal case heard recently confirmed that the English courts will be unwilling to infer a common law duty into non-advisory contracts between banks and private individuals, by virtue of the Conduct of Business (“COB”) rules issued by the Financial Conduct Authority. This mirrors and reinforces the approach taken by the Hong … Read more

Consultation on Proposed Amendments to the US Federal Rules of Civil Procedure Regarding Discovery

The US Federal Judicial Conference’s Advisory Committee on Civil Rules (the “Advisory Committee”) has proposed a series of amendments to the US Federal Rules of Civil Procedure—the rules that govern the conduct of civil proceedings in the US federal district courts. Among other issues, the amendments are intended to address and provide for proportionality in … Read more

Time is money – limitation periods in the context of provision applications

In general, when someone dies their Will (assuming it is valid) is the final arbiter of where that person’s money and other property go.  However, statutes in both England and Hong Kong (and other similar jurisdictions) introduced an important exception to this general rule: those being immediately maintained before the death of the testator could … Read more

Astro v Lippo: the next chapter – Singapore Court of Appeal rejects enforcement of awards against non-signatories to the arbitration agreement

The long-running dispute between Astro, a Malaysian media giant, and Lippo, an Indonesian conglomerate, has reached the end of the latest heavily contested battle by Lippo against the enforcement of arbitral awards given in Astro’s favor. In PT First Media TBK v Astro Nusantara International BV & others [2013] SGCA 47, the Singapore Court of … Read more