Representative actions under CPR 19.8: High Court to consider important questions relating to funding and damages for class members

According to a list of issues that has recently become publicly available in the Commission Recovery v Marks & Clerk case, a trial early next year is likely to determine important questions that could affect the broader viability for claimants and funders of bringing “opt-out” representative actions under CPR 19.8, which allows claims to be … Read more

High Court grants declaration confirming exclusive jurisdiction of the English courts in order to assist Indian court to determine it did not have jurisdiction

The English High Court has granted limited declaratory relief confirming the exclusive jurisdiction of the English courts under the jurisdiction provisions of certain counter-guarantees provided to the claimant Afghan bank by the defendant Indian bank: Afghanistan International Bank v Yes Bank Ltd [2023] EWHC 3294 (Comm). The decision was made against the backdrop of proceedings … Read more

High Court finds that lender suffered no loss despite negligent valuation of security

The High Court has dismissed a lender’s claim against a valuer for breach of contract and/or negligence in relation to the valuation of security for a loan, finding that the lender had suffered no actionable loss despite the valuer’s admitted negligence: Hope Capital Ltd v Alexander Reece Thomson LLP [2023] EWHC 2389 (KB). This decision provides further … Read more

Court of Appeal confirms reflective loss rule will bar claims of former shareholders of a dissolved company because the principle must be determined at time of alleged loss

The Court of Appeal has upheld a decision of the High Court to strike out a claim by the former shareholders of a dissolved company against an investor on the basis that all the losses claimed were barred by the reflective loss principle: Burnford & Ors v Automobile Association Developments Ltd [2022] EWCA Civ 1943. As a … Read more

Freezing orders brought onto the blockchain and service of proceedings via NFTs

The challenge of enforcing court orders in respect of cryptocurrencies may become easier, following the settlement announced last week between the Bitcoin Association for BSV and Tulip Trading Ltd (TTL). This follows the significant case brought by Dr Craig Wright against a number of blockchains and their developers in 2021: Tulip Trading Limited v Bitcoin … Read more