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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
The Supreme Court’s judgment in Sevilleja v Marex Financial Ltd [2020] UKSC 31 has been eagerly anticipated by financial institutions and brings much needed clarity in respect of the so-called “reflective loss” principle, first established in Prudential Assurance Co Ltd v Newman Industries Ltd (No 2) [1982] Ch 204. By a majority of 4-3, the … Read more
The High Court has held that s.236 of the Insolvency Act 1986 (“IA 1986”) does not have extra-territorial effect, so that the court is not generally permitted to make an order requiring a person outside the UK to produce books and papers and give an account of their dealings with an insolvent company: Re Akkurate … Read more
As previously noted, the new Corporate Insolvency and Governance Bill, currently expected to be enacted in mid-June 2020, is likely significantly to impact many supplies of goods and services to companies that are or may be in financial distress. However, the effects are sufficiently far-reaching that they could impact the balance of rights in all … Read more
