Digital assets: Law Commission consults on private international law issues and draft legislation recognising a third category of personal property rights

On 22 February 2024, the Law Commission published two documents relating to digital assets: (i) a call for evidence on private international law issues relating to digital assets and electronic trade documents; and (ii) a consultation on draft legislation to confirm the existence of a third category of personal property for assets such as crypto-tokens. … Read more

High Court refuses permission for climate change judicial review against the FCA for a second time

The High Court has refused environmental NGO ClientEarth’s application for permission for judicial review of the decision taken by the Financial Conduct Authority (FCA) to approve the prospectus of an oil and gas operator Ithaca Energy plc: R (on the application of ClientEarth) v Financial Conduct Authority [2023] EWHC 3301 (Admin). This was an innovative attempt by … Read more

Compensation orders against disqualified directors: High Court confirms they are not limited to cases of fraud

In only the second reported decision on compensation orders against disqualified directors under section 15A of the Company Directors Disqualification Act 1986 (CDDA 1986), the High Court confirmed that compensation orders are not limited to cases of fraud but can be made in cases of negligence or recklessness causing identifiable loss: Secretary of State For … Read more

Climate disputes – Greenwashing dispute risks – International perspectives

Fuelled by the global spread of ESG and climate-related disclosure obligations and coupled with pressures from increasingly ESG-driven stakeholders, businesses are saying more than ever about their environmental and social performance. These statements might be product-specific, relate to investment strategy or corporate governance. Such statements might be seen as good marketing, positive for a company’s … Read more

Climate disputes – ESG disclosure investigations – Are you ready?

Listed companies across various sectors and industries are grappling with how to manage and disclose ESG issues, particularly relating to climate. These issues include: Accounting for carbon and other greenhouse gas (GHG) emissions of their business, suppliers and value chain partners. Considering the downstream effects of their products and services. Integrating energy transition plans and … Read more

Commercial litigation podcast series – Episode 21: General update

In this 21st episode of our series of commercial litigation update podcasts, we look at developments relating to litigation funding since the Supreme Court’s dramatic decision in Paccar in late July, as well as brief updates on ADR, pre-action conduct and costs. We also discuss developments relating to Russian sanctioned parties, and the disqualification proceedings … Read more

Carillion director disqualification proceedings – Insolvency Service drops proceedings against non-executive directors in so-called “test case”

On the eve of trial, the Insolvency Service (IS), acting on behalf of the Secretary of State for Business and Trade, has discontinued disqualification proceedings brought in January 2021 against five former non-executive directors (NEDs) of Carillion plc. The trial, which had been listed for around 13 weeks (and originally as long as 6 months) … Read more