There is a growing trend amongst activists and claimant law firms to pursue novel causes of action against companies for acts or omissions that, while not directly attributable to them, are said to result in alleged human rights breaches in their value chains.
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Writing for the Journal of International Banking & Financial Law, Head of Leveraged Finance, Matthew Ayre, and Senior Associate, Jason Larkins, take a look at the key features of recurring revenue transactions in the UK and European markets, including who they are for, how they work and evolving trends.
On 5 August 2022, the FCA issued a Final Notice fining Sir Christopher Gent, former Chair of ConvaTec Group Plc (ConvaTec), £80,000 for unlawful disclosure of inside information to major shareholders.
The CAT considers the threshold for without prejudice privilege in Sportradar AG v Football DataCo Limited
In a recent decision of the Competition Appeal Tribunal ("CAT"), the CAT held that an email inadvertently disclosed by a party was protected by without prejudice privilege ("WPP").
In this decision, the court confirmed that it did not have the power to extend the "relevant period" for acceptance a Part 36 offer. In reaching that conclusion, Master Thornett gave some important reminders about how the Part 36 rules operate in practice, and how the court's approach to them, as a "self-contained code", will differ from its approach to other rules.
Multiple litigation funders: main funder liable for costs (inc. costs predating funding agreement) ECU Group PLC v HSBC Bank PLC & Ors  EWHC 1616 (Comm)
The recent High Court decision of ECU Group PLC v HSBC Bank PLC & Ors  EWHC 1616 (Comm) sheds light on the scope of commercial litigation funders' potential liability for costs in unsuccessful actions, including costs incurred prior to the signing of the Litigation Funding Agreement (LFA).
Government Plans for Reform to Tackle Strategic Lawsuits Against Public Participation ("SLAPPs") in England and Wales
On 20 July 2022 the Deputy Prime Minister, Dominic Raab, announced a package of measures designed to tackle the increased use of SLAPPs in the courts of England and Wales.
On 9 August 2022, the FCA issued its latest portfolio letter (Letter) to alternative asset management firms setting out its supervisory priorities.
The aftermath of the COVID-19 pandemic, the ongoing Russia/Ukraine conflict, and rising inflation and interest rates have exacerbated a slowdown in the world economy. Many borrowers have availed themselves of low-cost debt in the decade since the financial crisis, and some may encounter challenges in servicing or refinancing this debt in a harsher economic climate.
Watch our short video on W&I insurance trends below.
On 19 July HM Treasury issued a report on the outcome of the UK Secondary Capital Raising Review (the "Review").
The UK Government has published its much anticipated Financial Services and Markets Bill (the Bill), previously touted by the former Chancellor as "Big Bang 2.0". The Bill as introduced may or may not be that, but it certainly includes a large number of substantial measures that will effect a major overhaul of the UK's regulatory framework for financial services.
Since the Supreme Court's rulings in Vedanta Resources Plc v Lungowe  UKSC 20 ("Vedanta") and HRH Emere Okpabi v Royal Dutch Shell  UKSC 3 ("Okpabi"), much has been written about the potential impact these decisions may have on UK-domiciled businesses with foreign operations and, in particular, how they will assist claimants who wish to initiate large-scale group litigation.
In AIC Ltd v Federal Airports Authority of Nigeria  UKSC 16 the Supreme Court has re-stated the principles to be applied when a judge is asked to revisit a judgment or final order before it has been sealed by the Court, where there has been a change in relevant circumstances in the meantime.