The High Court has granted a lender’s application for summary judgment in relation to its USD $10.5 million claim against a borrower and guarantor for outstanding sums due under finance agreements: Adare Finance DAC v Yellowstone Capital Management SA & Anor [2020] EWHC 2760 (Comm). The decision will be welcomed by financial institutions considering their … Read more

This month, there have been some significant regulatory announcements in relation to climate-related disclosures. These announcements are a result of the increasing focus on climate change and sustainability risks across governments, regulators and industry and a continued move towards corporate compliance with the Task Force on Climate-related Financial Disclosures’ (TCFD) recommendations. While not launching new … Read more

The High Court has granted a claim brought by a bank against two companies (and the managing director of one of them) to recover outstanding sums due under a USD 9 million loan agreement and related security agreements (the Finance Agreements): Aegean Baltic Bank SA v Renzlor Shipping Ltd & Ors [2020] EWHC 2851 (Comm). … Read more

The Commercial Court has granted summary judgment in favour of a bank seeking to recover payments under Credit Agreements entered into with the Venezuelan state-owned oil and gas company, Petroleos De Venezuela SA (PDVSA), finding that the defaulting borrower had no real prospect of successfully defending the claims on the basis of certain US Sanctions … Read more

The High Court has struck out the claims of over 200,000 claimants against two companies in a group of companies (domiciled in England and Australia respectively) arising out of an incident in Brazil. The court struck out the claims as an abuse of process in light of concurrent proceedings and compensation schemes in Brazil: Municipio … Read more

Proposals for a new, general regime for class actions in France were recently presented to the French National Assembly. If accepted, the new regime will replace the current, sector-based approach where class actions are governed by a variety of consumer, environment, public health and employment legislation. It will also expand substantially the list of organisations … Read more

The Supreme Court has held that a claimant who had engaged in mortgage fraud was not barred from bringing a negligence claim in relation to the property transaction associated with the fraud: Stoffel & Co v Grondona [2020] UKSC 42. While the claim in this case was against the claimant’s solicitors, it is a noteworthy decision for … Read more