Contractual duties of good faith: Court of Appeal confirms context is king

The Court of Appeal has allowed an appeal in a case which provides important clarification around the scope and construction of contractual provisions obliging the parties to act in good faith: Re Compound Photonics Group Ltd; Faulkner v Vollin Holdings Ltd [2022] EWCA Civ 1371. Although set in a non-financial context, the decision will be of … Read more

Green credentials: walking an advertising tightrope

In October 2022, the Advertising Standards Authority (the ASA) ruled for the first time that a bank had misrepresented its green credentials and engaged in so-called “greenwashing“. In this blog post, we consider how banks and financial services institutions can fall within the remit of the ASA’s advertising codes and the potential risks associated with … Read more

Key Supreme Court insolvency ruling clarifies stance on creditor duties

A much-anticipated Supreme Court judgment has confirmed the position as to when directors owe obligations to consider the interests of creditors, dismissing an appeal against the Court of Appeal decision in this case: BTI v Sequana [2022] UKSC 25. This decision will be of interest to financial institutions involved in turnarounds and restructurings as a … Read more

Court of Appeal considers approach to damages for deceit claims

The Court of Appeal has given some helpful guidance on the approach to assessing damages for deceit: MDW Holdings Limited v James Robert Norvill (& Ors) [2022] EWCA Civ 883. While the decision arose in respect of the acquisition of a private company and focused on the timing of when damages should be assessed in a breach … Read more