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From 31 December 2020, the European Regulation on Insolvency Proceedings (the “EIR”) ceased to apply in the UK. As a result: The EIR provides the rules for when the law of the place in which the insolvency proceedings have been opened can be supplanted by another law, but only that of a member state. The … Read more
In a recent decision concerning the scope of extraterritorial application of the SFO’s section 2 powers, the Supreme Court held that the SFO does not possess the power to compel a foreign company to produce documents held outside the UK: R (on the application of KBR, Inc) (Appellant) v Director of the Serious Fraud Office … Read more
The High Court has dismissed a strike out application in respect of a claim brought under section 423 of the Insolvency Act 1986 (“IA 1986”) in respect of an alleged transaction defrauding creditors, holding that it is not necessary to prove a freestanding connection between the defendant and England, separate from the litigation itself, in … Read more
The Supreme Court has held that a claimant who had engaged in mortgage fraud was not barred from bringing a claim against her solicitors for negligently failing to register the forms transferring the property to her and releasing a prior mortgage: Stoffel & Co v Grondona [2020] UKSC 42. The decision is of interest in … Read more
On Wednesday 4 November (2-3pm UK time), Anna Pertoldi and Maura McIntosh will deliver a webinar for Herbert Smith Freehills clients and contacts looking at developments in commercial litigation since our last update webinar, in November last year. The webinar will focus on developments relating to disclosure, witness evidence and remote hearings, as well as … Read more
The Judicial Committee of the Privy Council has ruled that the corporate director and the agent of a BVI-based holding company did not owe the company a duty of care to ensure that the beneficial owner’s business associate, who had previously given instructions regarding the affairs of the company on the beneficial owner’s behalf, was … Read more
The High Court has dismissed a Part 8 claim against a bank for allegedly failing to provide an adequate response to the claimant’s Data Subject Access Requests (DSARs). The decision highlights the robust approach that the court is willing to take where it suspects the tactical deployment of DSARs: Lees v Lloyds Bank plc [2020] … Read more
The High Court has today handed down judgment in the COVID-19 Business Interruption insurance test case of The Financial Conduct Authority v Arch and Others. Herbert Smith Freehills represented the FCA (who was advancing the claim for policyholders) in the case, which considered 21 lead sample wordings from eight insurers. Following expedited proceedings, the judgment … Read more
The new Corporate Insolvency and Governance Act 2020, which came into effect on 26 June 2020, could have a significant impact on companies in distress and their creditors, particularly landlords, suppliers, financial services providers and pension schemes. Our Restructuring, Turnaround and Insolvency team have produced a series of short, informative and user-friendly webcasts focusing on … Read more
