Larksway Investments Ltd v Financial Conduct Authority

Financial services – Financial Conduct Authority. The applicant company's application for a stay of a reference made by it to the Upper Tribunal (Tax and Chancery Chamber)(the tribunal) was refused by the tribunal on the basis that a stay would not assist it in ensuring that there was a proper consideration of the issues and the need to avoid unnecessary delay in the proceedings. However, the Financial Conduct Authority's application for a direction that the reference be struck out was granted on the ground that there was no reasonable prospect of the applicant's case succeeding.

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