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Natural justice – Duty to act fairly. The defendant, the London Metal Exchange, decided, following a consultation process, to implement a new rule (the LILO rule)and excluded the possibility of a rent ban option. The claimant, United Company Rusal Plc, sought judicial review. The judge held that, inter alia, as the rent ban was the next best option, consultees had to know the reasons why it had been rejected in order properly to understand the LILO rule. The Court of Appeal, Civil Division, in allowing the defendant's appeal, held that, inter alia, the defendant had correctly disclosed the true reasons for the LILO rule and it had had no obligation to put forward a proposal which it was not willing to promote.
Natural justice – Duty to act fairly. The defendant, the London Metal Exchange, decided, following a consultation process, to implement a new rule (the LILO rule)and excluded the possibility of a rent ban option. The claimant, United Company Rusal Plc, sought judicial review. The judge held that, inter alia, as the rent ban was the next best option, consultees had to know the reasons why it had been rejected in order properly to understand the LILO rule. The Court of Appeal, Civil Division, in allowing the defendant's appeal, held that, inter alia, the defendant had correctly disclosed the true reasons for the LILO rule and it had had no obligation to put forward a proposal which it was not willing to promote.
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Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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