Insights: Legal Updates - April 2013

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UK securities law issues for overseas issuers and financial advisers

Paul Airley |

International companies continue to treat London as a key destination for raising institutional finance. Furthermore, of the firm offers announced in 2012 for companies subject to the UK Takeover Code (being, principally, UK corporations listed on the United Kingdom Listing Authority’s Official List and traded on the London Stock Exchange Main Market or listed on […]


Scotland and independence - currency, banking and financial issues

Charles Proctor |

As is well known, Scotland is due to hold a referendum on independence from the remainder of the United Kingdom on 18 September 2014. Aside from the heated political debate on this issue, there are numerous legal and technical issues which, over recent months, have moved towards the centre stage. For example, the Scottish Government […]


Changes to litigation funding and insurance from April 2013

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The previous cost rules, which greatly favour claimants, have changed for proceedings issued after April 2013. Lawyers are allowed to charge a success fee of up to 100% more than their usual hourly rates in the event of success, whilst at the same time agreeing to charge less than normal rates if success is not […]


The second hand digital market - US court rejects 'First Sale'

Eddie Powell |

Last year we reported on the European Court of Justice’s (ECJ) decision in Oracle v UsedSoft (1), in which the court held that a licensee of computer software could legitimately sell it on a second hand basis, where the licence was akin to a ‘sale’ of the software. We commented that, although the case was […]


Letter of credit jurisdiction clause overridden

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In Petrologic Capital SA v Banque Cantonale de Geneve [2012] EWHC 453 (Comm), a Swiss bank applied for a Declaration but the English court did not have jurisdiction to hear a claim brought by its customer, a Swiss company, relating to a letter of credit issued by the bank. The company relied on an English […]