The Privy Council has ruled on an appeal from the Mauritian Court of Appeal which granted an injunction to prevent a bank from paying out under a letter of credit. In Alternative Power Solution Limited v Central Electricity Board  UKPC 31, the bank had issued a letter of credit setting out documents required to […]
As the property market again witnesses ever-increasing property prices, ‘lock out agreements’ (or ‘exclusivity agreements’ as they are often called) are becoming more and more prevalent. But are they worth it? In a buoyant market one danger to buyers is that once an offer has been accepted, the buyer must begin the time consuming and […]
Preserving family wealth is uppermost in many families’ minds. Therefore, knowing how structures created to hold family wealth will perform in the event of a family member divorcing is crucial. Unfortunately, the treatment of trusts on a beneficiary divorcing is to some extent uncertain. The legislation is clear enough: anyone with an irrevocable, fixed interest […]
Autumn always reminds me of a case some years ago; a council was considering felling some horse chestnut trees because the conkers could make pedestrians slip, or children could suffer serious head injuries if the sticks they used to dislodge them meant the conkers landed on their heads. This is the kind of approach that […]
My daily walks between station and office take me past the Warburg Institute, housed in a drab 1950s building in Woburn Square. My knowledge of the Institute was until now limited to a vague recollection that the disgraced art historian and Soviet spy Sir Anthony Blunt had the title of Warburg Institute Professor. I could […]
An English broker of derivative investments has brought a claim against a German law firm, claiming that the firm wrongfully induced the broker’s clients to breach their contracts by persuading them to bring claims against the brokers in Germany in breach of exclusive jurisdiction clauses in favour of the English court. The broker claimed that […]
Threats to wealth come in many guises. Mr Southwell was described by the judge in Southwell v Blackburn at the Court of Appeal as ‘shrewd, cautious and guarded’. He knew that if he married Ms Blackburn, who had two children from a previous marriage, she would have a financial claim against his assets in the […]
An important judgment was issued yesterday by the Employment Appeal Tribunal (EAT) which could have significant financial consequences for any business that offers paid overtime or makes other regular payments to its workforce. Previously, the practice operated by most employers has been not to include overtime pay, commission, travel allowances and other “non-basic salary” payments […]
It has been said that success in construction is no longer a question of contractor competing against contractor, but supply chain against supply chain. Proactive management of long-term supplier relationships is becoming more important than ever. This trend is being supported by the increased use of agreements to regulate long-term supplier relationships, with strategic partnering […]
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