Insights: Legal Updates - July 2013

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Swaps mis-selling – SMEs and the sophistication complication

Alexander Wildschütz, Charles Proctor |

This April saw the start of the compensation process by the banks(1) taking part in the review regarding the mis-selling of interest rate swaps and other interest rate hedging products (IRHPs)(2). However, despite this, the news is far from good for some SMEs. This is because there is a significant obstacle on the road to […]

Business Property Renovation Allowance (BPRA) - HMRC Review 18 July 2013

Julian Lewis |

HMRC have announced a "technical review" of BPRA legislation with a view to making their policy purpose even clearer, so that the relief will be easier for both claimants and HMRC to operate. Perhaps this should be interpreted as code for "easier for HMRC to reject claims"? The technical note which HMRC have issued highlights […]

Employment Tribunal practice and procedure from 29 July 2013


Changes are being made to the Employment Tribunal system in England. From Monday 29 July 2013, new Employment Tribunal Rules will be in force and (most) claimants will be required to pay a fee in order to commence a claim. Fladgate’s Employment Team has produced a one page “flowchart” intended to assist employment and HR […]

AIFMD goes live

Edward Morgan |

After years of discussion, consultation and deliberation the controversial EU Alternative Investment Fund Managers Directive (the Directive) finally comes into force in the UK today. The Directive’s scope is very wide and will affect the way in which many UK (and other EU and non-EU) managers of alternative investment funds conduct their business, including those […]

Community Right to Bid

Roy Perrott |

One of the themes in the Conservative Party’s manifesto for the April 2010 general election was the creation of a "Big Society". Some of the more ambitious plans fell by the wayside. However, other initiatives did take flight and were incorporated in the Localism Act 2011. One of these was the ability for local residents […]

Damages for breach of arbitration agreement


There has been a further judgment at the Commercial Court in West Tankers v Allianz SpA [2012] EWHC 854 (Comm). The case originally came to prominence because the European Court of Justice held that the English court was not entitled to make an anti-suit order to prevent proceedings in Italy in breach of an arbitration […]

Changes to permitted development rights


Controversial changes to permitted development rights, including much-publicised new rules to allow, on a temporary three year basis, change of use from office to residential without planning permission, are now in force. Announcing the changes earlier in the year, Eric Pickles stated that the new rules allowing change of use from B1(a) office to C3 […]