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Cases

VTB Bank (Public Joint-Stock Company) & Ors v Campino & Ors

Judgment Date: 19 Oct 2020

The Isle of Man’s Staff of Government Division has allowed an appeal and made a disclosure order against a non-cause of action defendant to a freezing order and interveners who were contending that a freezing order should be discharged. In doing so, the Court affirmed the flexibility of the jurisdiction to make ancillary orders to support freezing relief. This is an important case for showing that common law courts are able and willing to order disclosure of documents prior to a discharge hearing of freezing injunctions in appropriate cases.

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Cornerstone Telecommunications Infrastructure Ltd v London & Quadrant Housing Trust (2020)

Judgment Date: 14 Oct 2020

The Upper Tribunal imposed an agreement on a housing trust under the Communications Act 2003 Sch.3A Pt 4 para.20 conferring on a telecommunications operator rights to install and operate equipment on the roof of a building. The tribunal determined the extent to which the operator should be able to upgrade and share the equipment and set out the correct approach to assessing the consideration payable by operators under such agreements.

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Members
Tim Calland

Practice areas
Real Estate

CFH Clearing Ltd v Merrill Lynch International (2020)

Judgment Date: 14 Aug 2020

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.

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In the Matter of The Financial Conduct Authority v Carillion Plc (in liquidation) [2020] EWHC 2146 (Ch)

Judgment Date: 07 Aug 2020

The Financial Conduct Authority's process of deciding whether to impose sanctions on a company (including the decision) was an "action or proceeding" within the meaning of the Insolvency Act 1986 Pt IV s.130(2). Accordingly, the court's leave was required before a warning notice could be given by the FCA.

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EMI v Prudential (2020)

Judgment Date: 31 Jul 2020

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.

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Members
Maxim Cardew

Practice areas
Real Estate

Cooper v Lehtïmaki; Re The Children’s Investment Fund Foundation (UK) [2020] UKSC 33

Judgment Date: 29 Jul 2020

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 objects of the charity, and that the court had an “inherent” and “exceptional” jurisdiction to direct a (fiduciary) member of the charity to vote in favour of a resolution to approve a payment of US$360 million to a charity under the management of a retiring trustee.

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Members
Ryan Turner

Practice areas
Charities

UK College of Business & Computing Ltd v Bath Spa University [2020] EWHC 2157 (Comm)

Judgment Date: 20 Jul 2020

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 to restrain the defendant, Bath Spa University, from acting on its purported termination of a long-term services contract with the claimant in the midst of the pandemic. Thomas Grant QC then led Narinder Jhittay, with further assistance from Charles King, for the expedited trial of the proceedings, which settled on confidential terms shortly prior to the commencement of the hearing.

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

Judgment Date: 03 Jul 2020

Pursuant to the Company Directors Disqualification Act 1986 s.9A(1), once a court had found that a director's conduct was such as to make him unfit to be concerned in the management of a company, it had to make a disqualification order. Even though disqualification engaged ECHR art.8, the word "must" in s.9A(1) meant that the making of an order was mandatory.

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

Judgment Date: 03 Jul 2020

The court determined the priority of competing claims under subordinated loan agreements and subordinated loan notes in the administration of two Lehman Brothers companies in which the claims of unsecured unsubordinated creditors had all been paid.

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

Judgment Date: 22 Jun 2020

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 Singularis.

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Members

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

Judgment Date: 11 May 2020

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.

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Convoy Collateral Ltd v Broad Idea International Ltd & Cho Kwai Chee (2020)

Judgment Date: 01 Apr 2020

The Court of Appeal of the Eastern Caribbean Supreme Court has dismissed an appeal against the discharge of a Black Swan freezing injunction for want of jurisdiction over the second respondent, Dr Cho. In doing so, the Court of Appeal affirmed the applicability of the Privy Council’s judgment in Mercedes-Benz AG v Leiduck [1996] 1 AC 284 in the Territory of the Virgin Islands: in short, it is not possible for proceedings seeking only freezing order relief against a foreign respondent to be served on that respondent out of the jurisdiction.

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Kazakhstan Kagazy PLC v Baglan Abdullayevich Zhunus & Ors (2020)

Judgment Date: 25 Mar 2020

he court declined to exercise its discretion under CPR r.3.1(7) to reconsider or vary various orders concerning the failure of a party in relation to information and pleadings, as the discovery of an order made in another jurisdiction was not a material change of circumstances and there had been no misstatement to the court about the existence of the order.

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United Trust Bank Ltd v Konstantinos Diamantopoulos (2020)

Judgment Date: 19 Mar 2020

Summary judgment was granted on a claim to enforce a personal guarantee in respect of a loan secured on a property where an assurance relied on by the guarantor, that the guarantee would not be enforced unless there was a shortfall after the property was sold, was not a clear promise.

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Popely v Popely (2020)

Judgment Date: 19 Mar 2020

The court considered the principles upon which a costs order might be made against a third party where it was said that he was the driving force behind the litigation, and further considered whether it was appropriate to make an order for costs against a trustee company which was a party to the proceedings, but did not wish to take, and did not take, any active part in them. Timothy Harry appeared for the trustee company which successfully resisted an order for costs being made against it. There has been no previous authority which has directly dealt with the issue of whether a trustee, joined as a necessary party to proceedings, but which takes no active part in them, can be held liable for the costs of them.

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Bilta (UK) Ltd (In Liquidation) & Ors v (1) NatWest Markets Plc (2) Mercuria Energy Europe Trading Ltd (2020)

Judgment Date: 10 Mar 2020

A claim brought by insolvent companies against a bank and its subsidiary for dishonest assistance and knowing participation in fraudulent trading, via the actions of its traders, was established where the evidence showed that the traders, contrary to their evidence, had been aware at all times that VAT was chargeable on their EU allowance carbon credit trades. Their evidence was untrue, implausible and designed to falsely suggest that there was no reason why they should have made the connection between the vast increase in trade that they were witnessing and the possibility that it was connected to VAT fraud.

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HMRC v Smith & Nephew (2020)

Judgment Date: 03 Mar 2020

Michael Gibbon QC (leading James Rivett QC of Pump Court Tax Chambers) has appeared for HMRC in an important test-case central aspects of the loan relationships code, in particular the “fairly represents” provision, and the proper treatment of exchange gains and losses.

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Members
Michael Gibbon QC

Practice areas
Tax

Goldman v Zurich Insurance Plc & Anor (2020)

Judgment Date: 05 Feb 2020

Thomas Grant QC and Ryan Turner have successfully resisted an application to strike out claims in fraudulent misrepresentation and unlawful means conspiracy on the basis that the proceedings were an abuse of process in a Henderson v Henderson sense.

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In The Matter of Transworld Payment Solutions UK Ltd (In Liquidation) Sub Nom Official Reciever v (1) Johannes Christian Martinus Augustinus Marie Deuss (2) Timothy Ulrich (2020)

Judgment Date: 27 Jan 2020

The Insolvency and Companies Court provided guidance on the purpose of applications for public examination under s.133 of the Insolvency Act 1986, the extent of the Court’s extraterritorial jurisdiction, the role of the Court on an application for directions and the role that the creditor requesting the examination plays in a disputed application. The Court also determined that the Official Receiver did not have the power to increase the deposit provided by the requesting creditor under the Insolvency (England and Wales) Rules 2016 r.7.101(2). Caley Wright appeared for the requesting creditor.

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Alibrahim v Asturion Foundation (2020)

Judgment Date: 24 Jan 2020

The Court of Appeal has provided authoritative guidance on the abuse of process known as “warehousing” in its first judgment on the subject for almost 20 years. David Mumford QC and James Kinman appeared for the successful respondent.

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