The Court of Appeal has dismissed an appeal against the High Court’s decision that Morrisons was vicariously liable for its employee’s misuse of data, despite: (i) Morrisons having done as much as it reasonably could to prevent the misuse; and (ii) the employee’s intention being to cause reputational or financial damage to Morrisons itself: Wm Morrisons … Read more

The decision in Davey v Money & Anor [2018] EWHC 766 (Ch) serves as a useful reminder for secured creditors (such as banks) of the potentially broad-ranging scope of liabilities that they may be exposed to in the course of dealings with administrators. In addition to the usual sorts of claims for ‘accessory liability’ that might be raised … Read more

In Financial Conduct Authority v Da Vinci Invest and Others [2015] EWHC 2401 (Ch), the High Court granted the Financial Conduct Authority (the “FCA“) permanent injunctions and financial penalties for market abuse against two firms and three individuals. All but one of the Defendants was incorporated or resident abroad.  This decision represents the first time the FCA has … Read more

In a unanimous decision, the Supreme Court has confirmed that the right to draw down under loan agreements is caught by the expanded definition of “asset” contained in the current standard Commercial Court form of freezing order which includes “any asset which it (the respondent) has the power, directly or indirectly, to dispose of or … Read more

A recent decision of the Commercial Court has reinforced the high threshold professional firms must meet to persuade a court as to the adequacy of information barriers put in place to prevent the disclosure of one client’s confidential information that is potentially relevant to an engagement for another client. Georgian American Alloys, Inc and others … Read more

Who is the rightful owner of a bribe? Is a bribe or secret commission received by an agent “held on trust” for his principal? Or is the principal’s claim against the agent a personal one for equitable compensation equal to the value of the bribe or commission? The issue is of critical importance. It affects … Read more

The Court of Appeal has handed down an important judgment holding that complainants who had accepted a Financial Ombudsman Service (“FOS”) determination were barred from bringing court proceedings in relation to the same cause of action under the legal principle of res judicata. In doing so, the Court of Appeal overruled a High Court decision … Read more

BNY Corporate Trustee Services Limited v Eurosail-UK 2007-3BL PLC [2013] UKSC 28 The Supreme Court has delivered a judgment providing welcome clarification on the construction and effect of section 123(2) of the Insolvency Act 1986 (the “balance-sheet” insolvency test) and its interaction with section 123(1)(e) of the Act (the “cash flow” insolvency test).The decision is relevant not just to creditors presenting winding-up petitions in respect of insolvent debtors but also to the wider banking industry, … Read more