Insights: Legal Updates - May 2010

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ISDA clause not a penalty


The early termination provisions in an International Swap Dealers Association (ISDA) master agreement were held not to be a penalty, which would have made them unenforceable. In BNP Paribas v Wockhardt [2009] EWHC 3116 (Comm) the defendants had defaulted under the terms of the master agreement. That allowed the bank to designate an early termination […]

Towering regulation


New health and safety regulations that came into force on 6 April 2010 raise a number of potential issues that developers and landlords may need to be aware of. Tower cranes are essential pieces of plant in the construction industry and, to some extent, it is possible to follow the fortunes of the economy by […]

Money laundering suspicion - update


In our previous article ‘No liability for negligent money laundering suspicion’ we reported the first instance decision in Shah v HSBC Private Bank [2009] EWHC 79 (QB). In that matter, the bank succeeded in striking out a claim against it for damages for wrongfully forming a suspicion of money laundering which resulted in an authorised […]