Treat Insolvency Rules as ‘a complete code’ for payment of statutory interest, rules Court of Appeal – OUT-LAW.com

‘The Court of Appeal has determined the extent of creditors’ entitlements to statutory interest on their debts and the correct approach for calculating their entitlement. It has ruled on the entitlement of representative creditors of Lehman Brothers International (Europe) (LBIE) to the surplus funds and on the calculation of the statutory interest due to them.’

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OUT-LAW.com, 10th November 2017

Source: www.out-law.com

FCA keeps payday loan cap after review – OUT-LAW.com

Posted August 1st, 2017 in fees, financial regulation, interest, loans, news by sally

‘The UK’s Financial Conduct Authority (FCA) is to maintain a cap set on the interest and fees charged on high-cost short-term loans after a review concluded it had benefited consumers.’

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OUT-LAW.com, 31st July 2017

Source: www.out-law.com

Willpower & determination – New Law Journal

‘Paola Fudakowska & Henrietta Mason provide a wills & probate update.’

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New Law Journal, 19th May 2017

Source: www.newlawjournal.co.uk

Corporate interest restriction cut from pre-election UK Finance Bill – OUT-LAW.com

Posted April 27th, 2017 in amendments, bills, corporation tax, elections, interest, news by sally

‘The legislation to introduce restrictions on corporation tax deductions for interest payments will not be included in the UK Finance Bill that will become law before the general election. The government tabled amendments to the bill withdrawing most of its provisions before it went through the remaining House of Commons stages on 25 April.’

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OUT-LAW.com, 27th April 2017

Source: www.out-law.com

Latest draft legislation on interest restriction more helpful for infrastructure and real estate, says expert – OUT-LAW.com

Posted March 24th, 2017 in bills, construction industry, interest, news, taxation by sally

‘Amended draft legislation to restrict tax relief for interest payments includes changes to a new ‘public infrastructure’ exemption which will be helpful for infrastructure and real estate companies, according to a tax expert.’

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OUT-LAW.com, 21st March 2017

Source: www.out-law.com

Adherence to Wells ruling meant discount rate cut was only option, says Truss – Litigation Futures

Posted February 28th, 2017 in consultations, damages, interest, news, personal injuries by tracey

‘The “faithful application” of the principles set down by the House of Lords in Wells v Wells was the reason Lord Chancellor Liz Truss rejected calls to take a “mixed portfolio” approach to setting the discount rate, in a move one leading observer suggested showed “nimble political footwork”.’

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Litigation Futures, 28th February 2017

Source: www.litigationfutures.com

Cherie Booth: Challenge to buy-to-let tax ‘not over yet’ despite judicial review failure – Daily Telegraph

Posted October 7th, 2016 in interest, judicial review, mortgages, news, taxation by tracey

‘Campaigners led by Cherie Booth QC said that they would continue their fight against the changes to taxation of buy-to-let income after their application to launch a judicial review of the new law was turned down.’

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Daily Telegraph, 7th October 2016

Source: www.telegraph.co.uk

Tricky quantum case that grapples with PI claims involving multiple tortfeasers and disputes between experts – Cloisters

‘William Latimer-Sayer QC considers the case of XP V Compensa Towarzystwo SA v Przeyslaw Bejger [2016] EWHC 1728 (QB) in which Whipple J had to grapple with a number of tricky quantum issues.’

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Cloisters, 25th July 2016

Source: www.cloisters.com

Has the Claimant Beaten its Part 36 Offer? Perhaps not as Simple as it Looks – Zenith PI Blog

‘HHJ Pelling QC considered whether, when considering if a claimant had beaten its Part 36 offer, the court should simply compare the amount of the judgment with the offer the claimant had made or if account should be taken of the interest that had accrued in the period leading up to the trial.’

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Zenith PI Blog, 13th July 2016

Source: www.zenithpi.wordpress.com

Ex-Barclays Libor traders jailed for more than 6 years – The Independent

Posted July 8th, 2016 in banking, conspiracy, fraud, interest, news, sentencing by sally

‘Four former Barclays traders were sentenced to as long as 6 1/2 years in prison for manipulating Libor as judges continued meting out tough punishments for white-collar crime.’

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The Independent, 7th July 2016

Source: www.independent.co.uk

Claimant who only beat part 36 offer because of interest “not entitled to enhanced costs” – Litigation Futures

Posted July 5th, 2016 in civil procedure rules, costs, damages, interest, news, part 36 offers by sally

‘A claimant who only beat his part 36 offer at trial because of the interest on the damages awarded through to judgment is not entitled to enhanced costs, the High Court has ruled.’

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Litigation Futures, 4th July 2016

Source: www.litigationfutures.com

Libor-rigging scandal: three former Barclays traders found guilty – The Guardian

Posted July 4th, 2016 in banking, conspiracy, fraud, interest, news by michael

‘Three former Barclays traders have been found guilty of conspiring to fraudulently manipulate global benchmark interest rates in a success for the UK’s Serious Fraud Office.’

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The Guardian, 4th July 2016

Source: www.guardian.co.uk

City regulator’s fines drop from £819m to £7m in a year – The Guardian

Posted July 4th, 2016 in banking, financial regulation, fines, interest, news, statistics by michael

‘Fines imposed by the Financial Conduct Authority (FCA) in the first half of 2016 have fallen to £7.2m – less than 1% of the figure of a year before.’

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The Guardian, 3rd July 2016

Source: www.guardian.co.uk

Part 36 uplift for beating offer includes contractual interest, High Court rules – Litigation Futures

Posted June 30th, 2016 in civil procedure rules, interest, news, part 36 offers by tracey

‘The 10% uplift claimants receive for beating their part 36 offer includes contractual interest on the sum won at trial, the High Court has ruled.’

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Litigation Futures, 27th June 2016

Source: www.litigationfutures.com

Part 36 uplift for beating offer includes contractual interest, High Court rules – Litigation Futures

‘The 10% uplift claimants receive for beating their part 36 offer includes contractual interest on the sum won at trial, the High Court has ruled.’

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Litigation Futures, 27th June 2016

Source: www.litigationfutures.com

Court of Appeal: SDLT not payable by company using Shari’a finance scheme – OUT-LAW.com

‘Project Blue Limited (PBL) was not liable for stamp duty land tax (SDLT) in respect of its acquisition of the former Chelsea Barracks by means of a Shari’a finance scheme, the Court of Appeal has ruled.’

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OUT-LAW.com, 31st May 2016

Source: www.out-law.com

Man allowed to challenge former mother-in-law’s will – Law Society’s Gazette

Posted May 31st, 2016 in appeals, divorce, interest, news, wills by tracey

‘The Court of Appeal has granted a divorced husband permission to challenge the validity of his former mother-in-law’s will which left him nothing from her estate.’

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Law Society’s Gazette, 27th May 2016

Source: www.lawgazette.co.uk

MoJ rules out review of legal aid repayment interest – Law Society’s Gazette

Posted May 12th, 2016 in interest, legal aid, Ministry of Justice, news, repayment by sally

‘The Ministry of Justice has ruled out reviewing the 8% rate of interest it charges when legal aid has to be repaid – even though the Bank of England continues to hold UK interest rates at 0.5%.’

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Law Society’s Gazette, 11th May 2016

Source: www.lawgazette.co.uk

Don’t Overlook Overeaching – Tanfield Chambers

Posted April 26th, 2016 in banking, constructive trusts, conveyancing, interest, mortgages, news by sally

‘The case of AIB Group (UK) plc v Turner [2015] EWHC 2994 (Ch), heard over a number of days in the Birmingham District Registry towards the end of 2015, is something of a puzzle.’

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Tanfield Chambers, 22nd April 2016

Source: www.tanfieldchambers.co.uk

Libor trial: former Barclays bankers were ‘driven by money’ – The Guardian

Posted April 7th, 2016 in banking, conspiracy, fraud, interest, news by sally

‘Five former Barclays bankers accused of conspiring to rig Libor interest rates were “driven by money” and their offence “is no different from stealing,” a court has been told.’

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The Guardian, 5th April 2016

Source: www.guardian.co.uk