CFH Clearing Ltd v Merrill Lynch International (2020)

Judgment Date: 14 Aug 20

Summary A standard 2002 ISDA Master Agreement governing certain foreign exchange transactions was not varied by the defendant bank’s standard terms so as to incorporate an alleged market practice of retrospectively adjusting prices where there had been market disruption. Andrew Twigger QC was instructed at first instance and on appeal...

In the matter of the Financial Conduct Authority v Carillion plc (in liquidation) [2020] EWHC 2146 (Ch)

Judgment Date: 07 Aug 20

Facts The applicant Financial Conduct Authority sought a declaration as to whether the court's leave was required for the issue of a "warning notice" against the respondent company under the Financial Services and Markets Act 2000 s.92 and s.126.The respondent had been subject to a winding-up order. The declaration was...

EMI Group Ltd v The Prudential Assurance Company Ltd [2020] EWHC 2061 (Ch); [2021] 1 P&CR 17

Judgment Date: 31 Jul 20

Summary John McGhee QC and Maxim Cardew successfully appear for Prudential (the landlord) in a claim brought by EMI (the guarantor) in relation to a lease of valuable commercial premises on Oxford Street formerly occupied by HMV. Maxim also analyses the decision in an article, which can be found here....

Cooper v Lehtïmaki; Re The Children’s Investment Fund Foundation (UK) (2020)

Judgment Date: 29 Jul 20

Summary The Supreme Court has today delivered a landmark judgment on issues of equity and charity law. In Cooper v Lehtïmaki; Re The Children’s Investment Fund Foundation (UK) [2020] UKSC 33, the Supreme Court held that the members of a charitable company stood in a fiduciary relationship vis-à-vis the...

UK College of Business & Computing Ltd v Bath Spa University (2020)

Judgment Date: 20 Jul 20

Summary Thomas Grant QC, Narinder Jhittay, Ryan Turner, and Charles King were instructed by Berkeley Rowe International Lawyers in a commercial dispute in the Circuit Commercial Court on behalf of the UK College of Business & Computing. At the outset, Thomas Grant QC and Ryan Turner successfully obtained an interim injunction...

LB Holdings Intermediate 2 Ltd (In Administration), Re Lehman Brothers Holdings Plc (In Administration)

Judgment Date: 03 Jul 20

The court was required to determine issues in the administrations of two Lehman Brothers companies (P and L) concerning the priority of certain subordinated debts for the purpose of distributing funds in the administrators' hands. P and L were intermediate holding companies in the Lehman Brothers group. L was the...

In the Matter of The Competition and Markets Authority v Michael Christopher Martin [2020] EWHC 1751 (Ch)

Judgment Date: 03 Jul 20

Facts The Competition and Markets Authority (CMA) applied under the Company Directors Disqualification Act 1986 s.9A(10) for the disqualification of the defendant (M) as a director of an estate agency.The CMA had found that M's agency was one of six in the Burnham-on-Sea area of Somerset which had participated...

Singularis Holdings Limited (in official liquidation) v Chapelgate Credit Opportunity Master Fund Limited (2020)

Judgment Date: 22 Jun 20

Summary Singularis Holdings Limited has succeeded in its claim to retain US$15 million from the proceeds of litigation against Daiwa Capital Markets Europe Ltd (“Daiwa”). This sum was claimed by the Defendant litigation funder, ChapelGate Credit Opportunity Master Fund Limited (“ChapelGate”), under the terms of its litigation funding agreement with...

European Film Bonds A/S & other v Lotus Holdings LLC & others [2020]

Judgment Date: 11 May 20

Summary The High Court has given judgment in favour of film completion guarantors (represented by Edmund Cullen QC) who have successfully avoided a potential liability of over €18 million in what is said to have been one of the largest film completion guarantee claims to have been submitted. Facts The Claimants...