Russian sovereign debt defaults: a disputes perspective

    Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law (JIBFL) on Russia’s default on its foreign currency sovereign debts from the perspective of potential disputes and litigation. Russia’s default on its foreign currency sovereign bonds is unprecedented and likely to lead to bondholder litigation as well as … Read more

    Navigating UK sanctions against Russian persons in English court proceedings

    The UK is one of many countries which have introduced extensive sanctions against Russia, its individuals and entities in light of the military action in Ukraine which began on 24 February 2022. The application of the sanctions is generally limited to the territory of the UK and the conduct of UK persons (as defined) inside … 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

    Court of Appeal upholds summary judgment for rent accrued during Covid closures of commercial premises, rejecting arguments based on implied terms and “failure of basis”

    The Court of Appeal has dismissed appeals against the grant of summary judgment to commercial landlords for payment of accrued rent in two cases where the relevant premises (in each case operated as cinemas) had to be closed for extended periods due to Covid restrictions: Bank of New York Mellon (International) Ltd v Cine-UK Ltd; London Trocadero … Read more

    BANKING LITIGATION PODCAST EPISODE 35: MONTHLY UPDATE – JULY/AUGUST 2022

    We have just released 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 Ceri Morgan and special guest Catherine Bagge. You can also listen … Read more