News: November 2019

A Blow for Lloyds Shareholders

Mr Justice Morgan dismissed an action by a group of 5,803 former Lloyds shareholders (the “Claimants”) in Sharp v Blank . The Claimants claimed that the Lloyds directors acted negligently in recommending the acquisition of HBOS – a bank burdened with bad mortgages.

Pass the $182 million Parcel!

In a decision highlighting the serious consequences of funding another’s litigation (even family) in Kazakhstan Kagazy Plc & Ors –v- Shyna Arip & Ors [2019] EWHC 2630 (Comm), the Commercial Court has granted a third party costs order (TPCO) against the wife (A) and mother-in-law (B) of a defendant (C).

A Good Day for Group Actions

The Court of Appeal (CA) judgment in Richard Lloyd v Google is a game-changer for group litigation. It discusses the circumstances in which a claim can be brought by way of representative action, particularly where there has been a data privacy breach.