What securities litigators need to know about the new Prospectus Regulation

The new EU Prospectus Regulation (EU/2017/1129) (the “PR”) entered into full force and effect on 21 July 2019 across EU Member States. It replaces, in its entirety, the Prospectus Directive (the “PD”) regime and therefore represents the most significant overhaul of European securities law since the PD came into force in 2005. A number of the … Read more

High Court applies contractual interpretation principles in collateralised loan obligation transaction

The High Court has recently considered the contractual interpretation of documentation in a collateralised loan obligation (“CLO“) transaction: Deutsche Trustee Company Ltd v Duchess VI CLO B.V. & Ors [2019] EWHC 778 (Ch). Applying established principles of contractual interpretation, the court held that an incentive fee was not payable to the collateral manager of the CLO, following the … Read more

Shareholder class actions – new webinar and “handy client guide”

Herbert Smith Freehills has today released the third in our series of webinars on class actions in England and Wales, looking at shareholder class actions. In the presentation Simon Clarke, Harry Edwards and Kirsten Massey discuss the outlook for shareholder group actions in England and Wales, the types of claims (eg under sections 90 and 90A FSMA) and remedies likely … Read more

English High Court confirms that Sharia non-compliance will not affect the enforceability of an English law agreement in an Islamic finance structure

The Financial List in the English High Court has considered the preliminary issue of the validity and enforceability of an agreement governed by English law, which formed part of a complex financial transaction partly governed by UAE law and the principles of Islamic Sharia: Dana Gas PJSC v Dana Gas Sukuk Ltd & Ors[2017] EWHC 2928 … Read more