Latest split trial decision in securities class action under s.90A FSMA

The High Court has held that reliance issues should be heard at the second trial, with defendant liability issues to be heard in the first, in a claim brought pursuant to s.90A and Sch.10A of the Financial Services and Markets Act (FSMA): Various Claimants v G4S Limited [2022] EWHC 1742 (Ch). In securities class actions, claimants … Read more

Court of Appeal confirms Damages-Based Agreements (DBAs) are not for defendants

The Court of Appeal has confirmed that Damages-Based Agreements (or DBAs) cannot be used by defendants as, under s.58AA of the Courts and Legal Services Act 1990, the agreement must provide for payment to the lawyer if the client “obtains a specified financial benefit” from the litigation: Candey Ltd v Tonstate Group Ltd [2022] EWCA … Read more

High Court grants freezing injunction in relation to stolen non-fungible tokens (NFTs)

Adding to the run of recent cases involving fraud or theft of cryptoassets, the High Court has granted an order restraining “persons unknown” from dissipating NFTs allegedly stolen from the claimant’s cryptoasset wallet: Lavinia Deborah Osbourne v (1) Persons Unknown (2) Ozone [2022] EWHC 1021 (Comm). (The decision dates from March this year, but the … Read more

Commercial litigation podcast series – Episode 14: General update

In this 14th episode of our series of commercial litigation update podcasts, we look at the most recent decisions on trial witness statements, a decision on what parties can do when they have received a draft judgment under embargo, upcoming changes to the circumstances in which proceedings can be served on parties outside the jurisdiction … Read more