New Judgment: Cardtronics UK Ltd & Ors v Skyes & Ors (Valuation Officers) – UKSC Blog

Posted May 27th, 2020 in banking, news, rates, Supreme Court by sally

‘These appeals concern the treatment for rating purposes of ATMs situated in supermarkets or shops owned and operated by the retailers. The issues raised by the case were whether the sites of the ATMS are to be properly identified as separate hereditaments from the stores and if so who was in rateable occupation of the separate hereditaments. Hereditament is defined in the General Rate Act 1967, s 115 (1) as “property which is or may become liable to a rate, being a unit of such property which is, or would fall to be, shown as a separate item on the valuation list”.’

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UKSC Blog, 26th May 2020

Source: ukscblog.com

The implications for UK financial institutions and the FCA resulting from the EBA’s Report on Inquiry into Cum-Ex – 5SAH

‘The European Banking Authority’s long-awaited inquiry into dividend arbitrage trading schemes (“Cum-Ex/Cum-Cum”) and 10-point action plan to enhance the future regulatory framework – what are the implications for UK financial institutions and the Financial Conduct Authority?’

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5SAH, 13th May 2020

Source: www.5sah.co.uk

Rights & Wrongs? Standard of proof in dishonesty cases considered by the Court of Appeal – Hardwicke Chambers

Posted May 12th, 2020 in banking, conspiracy, fraud, illegality, news, standard of proof by sally

‘The standard of proof in dishonesty cases: simple to state, difficult to apply. In Bank St Petersburg PJSC v Arkhangelsky [2020] EWCA Civ 408 the difficulty led the Court of Appeal to reverse an experienced High Court judge’s dismissal of a counterclaim. The matter was remitted after a 46 day trial spread over 6 months in 2016, 22 months waiting for a 388 page judgment and nearly 2 years waiting for the Court of Appeal decision on 18 March 2020. Jack Dillon and Amy Held consider the implications.’

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Hardwicke Chambers, 10th May 2020

Source: hardwicke.co.uk

Case Comment: Aspen Underwriting Ltd and others v Credit Europe Bank NV [2020] UKSC 11 – UKSC Blog

‘In this post, Alaina Wadsworth and Sophie Newman, who both work within the insurance and reinsurance group at CMS, comment on the decision handed down by the UK Supreme Court last month in the matter of Aspen Underwriting Ltd and others v Credit Europe Bank NV [2020] UKSC 11.’

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UKSC Blog, 5th May 2020

Source: ukscblog.com

FCA warns banks not to put pressure on clients during Covid-19 crisis – The Guardian

‘The City watchdog is cracking down on UK banks that have been preying on corporate clients seeking financial help during the Covid-19 crisis.’

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The Guardian, 28th April 2020

Source: www.theguardian.com

Bitcoin: The Future of Money? – St Paul’s Chambers

Posted April 29th, 2020 in banking, chambers articles, financial regulation, internet, news by sally

‘Cryptocurrency: The Future of Money? Bitcoin is just one of many cryptocurrencies (internet currency). It’s not the first but it’s the first that works and the one that’s caught everyone’s attention. As with any currency comes regulation and in light of the rise of Bitcoin in recent years, it’s important to consult a Bitcoin lawyer if seeking advice in cryptocurrency law, regarding Bitcoin law.’

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St Paul's Chambers, 24th April 2020

Source: www.stpaulschambers.com

Account Forfeiture and Freezing Orders (AFFO’s) in the Pandemic – Drystone Chambers

Posted April 24th, 2020 in banking, chambers articles, coronavirus, fraud, news by sally

‘As happens at times of crisis, fraud rises and criminals attempt to take advantage of people’s fears. The situation in the current crisis is made even worse by the fact that the police have other major demands on their time and the courts capacity to deal with matters is severely limited.’

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Drystone Chambers, April 2020

Source: drystone.com

Vicarious liability (and data protection): two cases – Six Pump Court

‘Morrisons, heard recently in the Supreme Court, concerns vicarious liability for a rogue data controller. Together with another Supreme Court case, Barclays Bank, these two cases cover all the key issues.’

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Six Pump Court, 8th April 2020

Source: www.6pumpcourt.co.uk

EP 106: Vicarious Liability – Robert Kellar QC & Isabel McArdle – Law Pod UK

‘Robert Kellar QC and Isabel McArdle of 1 Crown Office Row discuss with Rosalind English the latest Supreme Court rulings rejecting the liability of Barclays Bank for the wrongdoings of an independent contractor, on the one hand, and the liability of Morris’s Supermarket for the breach of data protection laws by one of its employees, on the other. Are enterprises to be shielded from the risks created by persons they commission to perform certain tasks?’

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Law Pod UK, 9th April 2020

Source: audioboom.com

Vicarious liability — the new boundary dispute – UK Human Rights Blog

‘In the Christian Brothers case Lord Phillips of famously declared that “the law of vicarious liability is on the move”. The recent decision of the Supreme Court in Barclays Bank v. Various Claimants [2020] UKSC 13 has brought that movement to a juddering halt. The question posed by the appeal was a simple one. Is it possible to be vicariously liable for the acts of a self-employed ‘independent contractor’? The answer the Court gave in this case was ‘no’.’

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UK Human Rights Blog, 3rd April 2020

Source: ukhumanrightsblog.com

New Judgment: Barclays Bank Plc v Various Claimants [2020] UKSC 13 – UKSC Blog

‘In this appeal, the Supreme Court is asked to decide whether Barclays Bank is vicariously liable for sexual assaults allegedly committed between 1968 and about 1984 by the late Dr Gordon Bates. Dr Bates was a self-employed medical practitioner with a portfolio practice. His work included conducting medical assessments and examinations of prospective Barclays employees. Barclays required job applicants to pass a pre-employment medical examination as part of its recruitment and employment procedures.’

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UKSC Blog, 1st April 2020

Source: ukscblog.com

New Judgment: Aspen Underwriting Ltd & Ors v Credit Europe Bank NV; & anor case [2020] UKSC 11 – UKSC Blog

Posted April 6th, 2020 in appeals, banking, EC law, insurance, jurisdiction, news, Supreme Court by sally

‘The High Court of England and Wales does not have jurisdiction to hear claims to recover sums paid under a settlement agreement relating to the loss of an insured vessel.’

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UKSC Blog, 1st April 2020

Source: ukscblog.com

Barclays not liable for alleged sexual assaults during medicals, court rules – The Guardian

‘Barclays is not liable for the alleged sexual assault of more than 100 patients by a doctor carrying out medicals on the bank’s behalf, the supreme court has ruled.’

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The Guardian, 1st April 2020

Source: www.theguardian.com

Employee monitoring and surveillance: Barclays calls ‘time’ on its time-tracking of employees – The 36 Group

‘Employee monitoring and surveillance can be a thorny issue. Some monitoring of employee activity may be required for reasons of security or to protect an employer’s resources from abuse. However, while an employer may justify a monitoring measure on the basis of economic imperative, it could also be viewed by its employees, the public or the courts as unjustified snooping.’

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The 36 Group, 12th March 2020

Source: 36group.co.uk

Raiffeisen Bank International AG v Asia Coal Energy Ventures Ltd & Anor [2020] EWCA Civ 11 – Hardwicke Chambers

‘The Appellant was a corporate and investment bank (the “Bank”). On 7 May 2015, it entered into a Sale and Purchase Agreement (the “Agreement”) as the seller of a 23.8% shareholding in an Indonesian company traded on the London Stock Exchange. The Respondent solicitors, (“Ashurst”), had acted for the First Defendant, the counterparty buyer under the Agreement (“ACE”).’

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Hardwicke Chambers, 5th March 2020

Source: hardwicke.co.uk

Further Lessons from Lehman Bros: The Court’s Control of Office Holders – Hardwicke Chambers

Posted March 20th, 2020 in administrators, appeals, banking, chambers articles, coronavirus, debts, insolvency, news by sally

‘When major financial institutions go to the wall the ensuing legal squabbles over the carcases often provide rich seams that can be mined to provide judicial clarification of the law for the benefit of all. The spectacular collapse of the Lehman Brothers empire is no exception and the latest chapter does not disappoint. In Lehman Brothers Australia Ltd (In Liquidation) v Macnamara & Ors (Joint Administrators of Lehman Brothers International (Europe) (In Administration)) [2020] EWCA Civ 321, the Court of Appeal (Patten, David Richards, Newey LJJ) has provided some timely and useful clarification on the correct test for the court to apply when considering the exercise of its inherent jurisdiction to control its officers within the principle of Re Cordon, Ex p. James (1873-74) LR 9 Ch App 609 or through the more specifically targeted statutory provisions for such control, as for example those in para 74 of Schedule B1 to the Insolvency Act 1986 (IA 1986) with regard to administrators. In the present climate induced by Coronavirus (COVID-19), any clarity that makes the necessity of going to court less likely is to be doubly welcomed.’

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Hardwicke Chambers, 17th March 2020

Source: hardwicke.co.uk

Former Barclays executives cleared of fraud charges – BBC News

Posted March 3rd, 2020 in banking, fraud, news by sally

‘Three former top Barclays executives have been cleared of fraud charges linked to how the bank raised billions from Qatar in the financial crisis.’

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BBC News, 28th March 2020

Source: www.bbc.co.uk

Wife’s guarantee to bank unenforceable due to husband’s undue influence (Syndicate Bank v Dansingani) – 4 New Square

‘Banking & Finance analysis: Ben Archer, barrister, at 4 New Square, examines a High Court decision that a guarantee given by the first defendant company director to secure the company’s liabilities to the claimant bank was enforceable but a similar guarantee given by the second defendant company director, who was the first defendant’s wife, was not enforceable as her execution of it had resulted from his undue influence.’

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4 New Square, 7th February 2020

Source: www.4newsquare.com

Jailed banker’s wife at centre of first McMafia order loses appeal to have case dismissed – The Independent

Posted February 7th, 2020 in appeals, banking, fraud, married persons, news, proceeds of crime by tracey

‘The wife of a jailed “fat cat banker” who splurged millions at Harrods has lost her appeal over the UK’s first so-called McMafia wealth order.’

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The Independent, 6th February 2020

Source: www.independent.co.uk

National Bank Trust v Ilya Yurov & Ors [2020] EWHC 100 (Comm) – Wilberforce Chambers

Posted February 6th, 2020 in banking, chambers articles, fraud, news, Russia by sally

‘Following an eight week trial in late 2018, the High Court has handed down judgment finding against the former majority shareholders of Russia’s National Bank Trust who were alleged to have misappropriated over $1billion of Bank funds via a sophisticated network of offshore companies.’

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Wilberforce Chambers, 27th January 2020

Source: www.wilberforce.co.uk