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A recent Supreme Court decision has clarified the English courts’ approach to determining whether a matter falls within the scope of an arbitration agreement for the purposes of deciding whether to grant a stay of court proceedings under section 9 of the Arbitration Act 1996: Republic of Mozambique v Privinvest Shipbuilding SAL [2023] UKSC 32. Section 9 … Read more
We have just released the next edition of our monthly update podcast, in which we discuss and debate the key recent judgments likely to be of interest to financial institutions. This episode is hosted by John Corrie, a partner in our banking litigation team, who is joined by co-host Ceri Morgan and special guest Scott … Read more
The High Court has rejected an allegation of dishonest assistance against a bank, in circumstances where the claimants argued that the restructuring of the bank’s customer was a scheme to defraud its creditors and avoid the customer paying its liabilities. The court held that the customer’s directors had not breached their duties to the company, … Read more
In a recent case, the High Court has had one of its first opportunities to consider BTI v Sequana [2022] UKSC 25 (see our previous update here), in which the Supreme Court gave important guidance on the existence and scope of the duty of company directors to have regard to the interests of creditors (the so-called “creditor duty”, … Read more
The Court of Appeal has recently handed down two seminal judgments in the Trucks and Forex proceedings: UK Trucks Claim Limited v Stellantis NV (formerly Fiat Chrylser Automobiles NV) & Others and Traton SE & Others v Road Haulage Association Limited [2023] EWCA Civ 875 (Trucks); and Mr Phillip Gwyn James Evans v Barclays Bank Plc & … Read more
The High Court has ruled against the Republic of Argentina (Republic) in a claim brought by investors in Euro-denominated sovereign bonds issued in 2005 and 2010 for approximately €1.33 billion: Palladian Partners & Ors v The Republic of Argentina & Anor [2023] EWHC 711 (Comm). While the present decision turns on the facts and specific … Read more
The Commercial Court has refused to enforce a foreign-seated arbitration award on the grounds that to do so would be contrary to public policy, including because it was contrary to certain protections provided under the Consumer Rights Act 2015 (CRA) and the Financial Services and Markets Act 2000 (FSMA), which the court held were an … Read more
The UK government has announced that it is proceeding with plans to introduce compulsory mediation as a mandatory procedural step in all Small Claims in the County Court. All parties in cases allocated to the Small Claims track (ie most claims valued below £10,000) will be required to attend a free mediation appointment with a … Read more
In a judgment handed down this morning, the Supreme Court has held that litigation funding agreements with third parties who play no part in the conduct of litigation, but who are to be paid a share of any damages recovered by the claimant, are “damages-based agreements” (or DBAs) within the meaning of the relevant legislation … Read more
