Partner Content
Selected expert commentary from weekly magazines New Law Journal and Criminal Law and Justice Weekly, along with regular articles from Butterworths’ Journal of International Banking and Financial Law.
Problems of uncertainty with endeavours clauses
This article analyses that part of the judgment of Leggatt J in Astor Management AG v Atalaya Mining plc which deals with the enforcement of an “all reasonable endeavours” obligation to reach agreement with a third party. It finds the decision to be robust and commercially pragmatic because of the judge’s willingness to give meaning to a contractual clause agreed upon by the parties and his reluctance to second-guess a commercial party on matters of commercial judgment.
Standby letters of credit, the “fraud” exception and commercial certainty – English law orthodoxy challenged
Recent cases have highlighted perceived problems caused by the largely unfettered availability of calls on standby letters of credit or performance bonds in circumstances where the underlying parties are already embroiled in some form of relevant dispute resolution procedure. In this article, Andrew Ayres QC questions the reluctance of the courts to interfere with the cashflow dynamics between the parties to a standby.
JIBFL: Restoring Aristotle’s equilibrium: indirect enrichment in the Supreme Court
In two recent important cases on restitution, Commissioners for HM Revenue and Customs v Investment Trust Companies (In Liquidation) [2017] UKSC 29 (ITC) followed by Lowick Rose LLP v Swynson Ltd [2017] UKSC 32 (Lowick), the Supreme Court revoked the permissive ‘judicial licence to meet the perceived requirements of fairness on a case by case basis’. What prompted this rebuke and how were matters straightened out, asks Thomas Lowe QC
JIBFL: The competing interests between bank and borrower when a bank in resolution sells debt
Hodge Malek QC & James Potts examine a recent Court of Appeal decision on the ability of (in this case) the special liquidator of a bank to market the bank’s good loans for sale as part of a package containing distressed debt
NLJ: Political poison
Geoffrey Bindman QC reflects on the trial of Socrates & the power of politics to defeat human rights
Politicians who disparage human rights sometimes give the impression they are dealing with an ill-considered invention of modern left-wing ideologues.
CL&JW: A Tale of Two Orders
Rupert Bowers QC and Daniel Godden writing on the recent case of NCA v. Simkus and Ghulam and Jardine
The recent judgment of the High Court in The National Crime Agency v. Simkus and Ghulam and Jardine [2016] EWHC 255 (Admin) will be of interest to lawyers who deal with restraint orders, disclosure orders, and in the civil regime of recovery of the proceeds of crime.
NLJ: Pattern of life
Alexander Bastin on forfeiture—pitfalls & remedies
Several issues can arise in forfeiture proceedings where a defendant fails to attend the first hearing and a possession order is made.
JIBFL: Client money claims against brokers in the Lehman aftermath
James Potts considers the client money issues raised by the peculiarities of brokerage business models and the need, despite the amended CASS rules, for an effective client money distribution regime
In light of the recent administration of foreign exchange broker Alpari (UK) Ltd, it is topical to review the position of interdealer brokers in relation to the FCA’s Client Assets Sourcebook (CASS) rules, which have been significantly amended with effect from 1 June 2015
JIBFL: Enforcing arbitration awards against States
Liisa Lahti asks what is an award creditor looking for in an asset?
This article sets out some of the key issues that an award creditor faces when seeking to enforce an arbitration award against a State.
CL&JW: The Bête Noire of the Legal Profession
Catherine Baksi delves into the debate on having a non-lawyer as Lord Chancellor.
The bête noire of many in the legal profession, the Lord Chancellor and Secretary of State for Justice Chris Grayling, courted controversy last week declaring he saw no “disadvantages” in the former role being held by a non-lawyer.
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