Conclusion of SFO investigation into LIBOR manipulation

15 November 2019

On 18 October 2019, the Serious Fraud Office (SFO) announced that it has concluded its investigation into the manipulation of the London inter-bank offered rate (LIBOR).

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Public Policy Fight Club: “Fraud” prevails over “Finality” in this round

19 September 2019

The recent decision by the Supreme Court, per Lord Briggs, turned “on the outcome of a bare-knuckle fight between two important and long-established principles of public policy. The first is that fraud unravels all. The second is that there must come an end to litigation.” Fraud emerged victorious.

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Mullet it over if it seems a bit phishy

14 June 2019

The judgment in World Proteins KFT v Persons Unknown confirms the Court’s willingness to permit restrictive injunctions against “persons unknown” in a fraud claim.

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New tricks – supplier beware

30 January 2019

Over the recent months we have experienced a spike in businesses falling victim to a rather simple but very effective form of reversed identity theft.

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The Expanding Reach of the SFO

6 December 2018

In R (On The Application Of KBR Inc) v The Director of the Serious Fraud Office [2018], the High Court confirmed, for the first time, the SFO’s ability to compel the production of documents held by a foreign company located outside the jurisdiction, where there is was ‘sufficient connection’ between the company and the UK.

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Found you! – Peering behind the corporate veil

8 November 2018

In dismissing a defendant’s ‘corporate veil’ defence, the High Court has made it clear that it can and will allow claims to be made against directors and shareholders in the appropriate circumstances (Palmer Birch v Lloyd & Anor [2018] EWHC 2316 (TCC).

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Fladgate’s Dispute Resolution team achieves strong rankings in Legal 500 for 2018

1 November 2018

Our Dispute Resolution team is delighted to have achieved strong rankings in the recently launched edition of the Legal 500 Guide to the UK Legal Profession.

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Purpose or Consequence?

27 July 2018

The recent Court of Appeal decision in JSC BTA Bank v Ablyazov and anr [2018] EWCA Civ 1176, has clarified the “prohibited purpose” test under section 423 of the Insolvency Act 1986 (IA). The litigation is part of the large scale fraud involving Mukhtar Ablyazov, the first defendant and controller of JSC BTA Bank (Bank) […]

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Buyer’s solicitor beware

12 June 2018

We now live in a world where identify theft is commonplace and fraudsters are becoming increasingly sophisticated in their pursuit of unsuspecting victims as modern technology helps to facilitate their dastardly deeds. The recent cases of Dreamvar (UK) Ltd v Mishcon de Reya (Dreamvar) and P&P Property Ltd v Owen White and Catlin LLP (P&P) […]

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Singularis Holdings Ltd (in liquidation): a cautionary tale for banking institutions?

23 May 2018

Banks are generally not liable to compensate customers for fraudulent payments if the customer authorised the payment. However, in Barclays Bank Plc v Quincecare Ltd [1992] 2 All E.R. 363 it was held that banks owe a duty to prevent fraudulent transactions if the bank has reasonable grounds for believing that the customer authorisation is […]

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