Legal updates

Is an Out-of-Hours Administrator Appointment Valid? Nobody knows

In Woodside and Ratten v Keyworker Homes (North West) Ltd, the High Court considered a directors’ appointment of administrators, which was made outside court opening hours. The case was caused by the uncertain and contradictory law that surrounds out-of-hours appointments. The directors of the Keyworker Homes (North West) Ltd (the Company) electronically filed at court […]

Government provides welcome advice on fire safety in residential buildings

The Government’s Expert Panel has now issued a consolidated advice note on fire safety following the Grenfell Tower tragedy. The note provides guidance for building owners to act on and highlights the importance of doing so promptly to ensure the safety of residents. The new guidance consolidates the 22 Advice Notes issued in the wake […]

The legal status of cryptocurrency in English law is cryptic no more!

A recent English High Court judgment has provided much needed legal certainty in respect of the status of cryptocurrency as property in English law. Background In September 2018 (although only reported in November 2019), the High Court granted a freezing order over Bitcoin and Ethereum held by a trading platform (Elena Vorotyntseva v Money-4 Service […]

Libor – What Next?

In our last article on the topic of Libor, we discussed the phasing out of the interest rate benchmark during the course of 2020 and 2021. This month we discuss what steps lenders and borrowers may wish to take to reduce Libor exposure. 1. Establish where your LIBOR exposures are: You may want to check […]

How to spot a commercial agent (and why you need to know how to spot one)

Commercial agents are special. They enjoy a unique legal position and enjoy a suite of legal rights and protections . A number of the core rights and protections enjoyed by commercial agents are absolute and will endure regardless of what the commercial agent and principal agree. But what does this mean in practice, and how can you identify whether you are, or have retained, a commercial agent to which such rights apply?

Libor – What Next?

Today the London Interbank Offered Rate (LIBOR) is still among the most commonly used interest rate benchmarks. However, LIBOR will cease to be available from the end of 2021. All users of LIBOR – both lenders and borrowers – will need to be prepared for this discontinuation. Background In July 2019, the FCA announced that […]

Duomatically Invalidated

The Court confirms its preference for a narrow and strict interpretation of the “Duomatic principle” relating to the informal approval of actions by a company’s shareholders.

A short guide to alternative dispute resolution (ADR)

The Court continues to emphasise the importance of parties to litigation or potential litigation attempting to resolve their dispute by alternative means, and may penalise parties for not doing so. This article explores some of the more common alternative procedures.

IP’s Susceptible to Non-Party Costs Orders

The High Court has made a non-party costs order against an insolvency practitioner firm, requiring it to pay the legal costs of unsuccessful proceedings brought by one of its partners.

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.