Rosanne Kay

If you have to look at commercial or financial contracts, in particular, force majeure clauses which contain reasonable endeavours provisos, read on.... In RTI Ltd v MUR Shipping BV, the UK Supreme Court unanimously overturned the split Court of Appeal decision and held that reasonable endeavours does not require a party to accept non-contractual performance (in this case payment in another currency), providing much needed clarity on this very fundamental point as a matter of principle. https://lnkd.in/euWvapN4

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The FCA has released a suite of Dear CEO letters, providing sector-specific expectations for firms navigating CD closed products changes. These insights offer crucial guidance on key risks and compliance priorities. #FCA #Compliance #FinancialServices #RegulatoryM&A #RiskManagement

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💡 In this article, London Senior Associates Archit Dhir and Alex McCue discuss the recent UK Supreme Court decision in Sharp Corp Ltd v Viterra BV on the measure of damages under the GAFTA default clause.    Read their insights here: https://lnkd.in/eMy5EKhA   If you have any questions around this decision, please don't hesitate to reach to Archit or Alex.    #WFW #DisputeResolution #SupremeCourt 

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Our July R&I Update is out now! Catch up on the latest developments in restructuring and insolvency: https://bit.ly/3LaVtrG This month our quick reads are: ▪ Contesting incongruent collateral in German insolvencies ▪ Fixed or floating? English court categorises charge over IP addresses ▪ Termination of commercial leases in French insolvency proceedings ▪ UK court considers whether a fully paid secured creditor's consent is required for an administration extension With thanks to this month's contributors: Dr. Hendrik N., Alfred W. Fink, Ines Slougui, Louise Jennings and Anneliese Amoah #Restructuring #Insolvency #Bankruptcy

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Kicking of the final day of London International Disputes Week (LIDW) ‘International law: what commercial practitioners need to know’ co-hosted with RPC- law firm. Alison Macdonald KC chaired the expert panel including Shai Wade, Lucas Bastin KC and Naomi Hart who explored some of the key areas in which international law has recently appeared in commercial cases, including procedural issues (such as service against foreign States), substantive matters (such as the availability of injunctive relief against States) and enforcement issues (including in relation to investment arbitrations). #LIDW24 #LIDW #InternationalLaw #CommercialLaw #Enforcement

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What are the key aims of our consumer protection review? 🎯 consumers appropriately protected when using a regulated firm 🎯 public confidence and trust in legal sector is maintained 🎯 a competitive, dynamic legal market that enables consumer choice We don't yet have the answers, but we are asking the fundamental questions. We want to hear as many views as possible, find out more and let us know what you think here: https://bit.ly/4c24fo3

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Our Partners James Clarke and Richard Shaw, alongside Senior Knowledge Lawyer Anna Blest, have shared their insights on the recent Supreme Court judgment in RTI Ltd v MUR Shipping BV (2024) UKSC 18, in which it considered reasonable endeavours obligations in the context of force majeure clauses in commercial contracts and concluded that they do not extend to having to accept non-contractual performance.   The judgment shared by the UKSupremeCourt confirms English Law’s principles of upholding freedom and interpretation of contract. However, it will provide limited reassurance for parties navigating significant commercial risks in a global economy that is subject to combinations of shock events that are not always predictable.    Further insights on the case can be found in full by clicking the link below: https://lnkd.in/erQAKS-U   #Contracts #ContractLaw #ForceMajeure #Freight

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On 23 April 2024, the FCA published the much-anticipated anti-greenwashing guidance which will apply to all FCA regulated firms from 31 May 2024. The FCA is also consulting on extending the SDR and labelling regime to portfolio managers in proposed rules which largely mirror those introduced for asset managers in November 2023. Read our detailed analysis below from Rita Hunter and Julia Cripps who would be very happy to discuss. #SDR #ESG #greenwashing #financialregulation

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In the 5th of a series of practice notes on litigation funding agreements for LexisNexis UK, Managing Directors Tanya Lansky and Tets Ishikawa consider the issues of control within LFAs. Since March 2021, we have pushed for transparency of documentation and made our suite of litigation funding documentation publicly and freely available on our website. This series of practice notes are a continuation of our contribution to raise industry standards and match the other established financial markets that we should be benchmarking ourselves to. This practice note can be accessed via this link here: https://lnkd.in/evV3VH2d (subscription required). #LexisNexis #LexisNexisUK #PracticalGuidance #commercialdisputes #commerciallitigation #disputes #disputeresolution #legalfinance #litigation #litigationfinance #litigationfunding LexisNexis Nadine Herman Gavin Wells Graeme Scott Oliver Bates Anna El-Erian Adrian Harris John Evans

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Last week, Charlotte Tregunna (left) spoke at AIJA - International Association of Young Lawyers fraud lawyers’ power hour, as part of London International Disputes Week (LIDW). Aimed at fraud practitioners, topics for discussion included how to bring fraud work in as well as top tips for the initial stages of advising a client on a fraud case. Also on the panel were Adam Flacks (LK Law Firm), Rosie Wild and Kajal Patel (Cooke, Young & Keidan LLP) and Laura Coad (Keidan Harrison LLP). Find out more: https://lnkd.in/e8j7UiwG #lidw24 #fraudprotection #frauddetection #legalinsights #law #lawyer #fraud

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The use of NPOs on corporate intelligence firms / Part 2 In December 2023, a Norwich Pharmacal order was sought against a private investigation company (the ‘PI’) to disclose details of their source. The legal dispute was focused on the estate of an infamous diamond trader and involved the PI providing evidence that one of the parties was concealing their asset position. This evidence included the PI obtaining bank records and SWIFT confirmations to demonstrate EUR 125 million of undisclosed payments through bank accounts in Switzerland. The PI asserted that the information was provided by “unidentified sources and confidential contacts”. The banks subsequently denied the documents were authentic and that the transactions had been carried out. The Judge agreed that the “evidence of forgery is, as it presently appears, very strong” but did not, however, demonstrate “wrongdoing or improper behaviour”. The claimant’s argument in favour of the NPO was revealing. They wanted specifically to understand how the PI had instructed their sources to obtain this report, including what information they provided to their sources and how they were compensated, and what steps the PI had taken to verify or corroborate the report. In their defence the PI stated that the disclosure would compromise the identity and safety of their source and that confidentiality is vitally important to the effective running of its operations. The Judge refused to grant the NPO in this case citing various reasons such as jurisdiction, but also the fact that the PI did not know the “identity of the ultimate source”. The Judge also stated that any attempt to obtain information would be “fraught with problems” such as exposing the “security and confidentiality”of the source which the Judge deemed an “important factor”. The PI was fortunate in this regard; however, it highlights a more significant issue within the industry, namely the dependence on information from unverified third-party sources and the absence of accountability concerning the origins of that information. https://lnkd.in/dEWSWGCj

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Another sanctions decision from the High Court! The short summary of this one is that the court has decided that Mr Putin does not necessarily control absolutely everything in Russia all of the time. A useful clarification!

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The Legal Services Board England and Wales' regulatory watchdog for legal services, issues a stern warning to regulators concerning lawyer quality indicators! As access to justice gains traction in developed jurisdictions, could this trend expand to encompass regulators' accountability, lawyer quality indicators, and legal services quality, price & choice in less regulated settings? Moreover, might it pave the way for greater consumer and corporate access to justice? Regulators, in-house functions, claimholders, take heed! For more on the Legal Services Board's latest admonition to regulators regarding sluggish progress in quality indicator development, delve into Nick Hilborne's piece on Legal Futures: https://lnkd.in/d_5YCc8J #LegalServices #Regulation #AccessToJustice #Lawyers #LegalQuality #LegalTech #ConsumerEmpowerment #QuickJustice #ConsumerProtection #MarketTransparency #MeaningfulSpecialisation #ClientCare #OnlineLegalServices #ReviewWebsites #LegalMarkets

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Law360 published an assessment by Matthew Cowie of how the newly-elected Labour administration may tackle financial crime. In his piece, he details priorities such as raising revenue and recovering the proceeds of crime, combating kleptocracy and its enablers, ensuring greater transparency from UK corporates, tackling “dirty money’’, and creation of a COVID-19 fraud commissioner. Matthew adds that further rounds of sanctions and maximising the enforcement of outstanding tax revenue are also likely. Guidelines on the "reasonable procedures" defence to the failure to prevent fraud offence introduced by the Economic Crime and Corporate Transparency Act 2023 and overseeing the passing into law of the Criminal Justice Bill (which would widen the scope of corporate liability) are also options for the new government. https://shorturl.at/XdtDe #labour #government #hmrc #legal #law #lawfirm

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The UK Digital Markets, Competition and Consumers (#DMCC) Act introduces broad changes to the #MergerControl regime. In this podcast, Julia Woodward-Carlton, Peter Harper , Claire Morgan and Laura Wright discuss the crackdown on killer acquisitions, changes to jurisdictional thresholds and merger investigation procedures, as well as new mandatory merger reporting requirements that businesses need to be aware of. Listen now: https://lnkd.in/eBmKrQp5 #Competition #MergersAndAcquisitions

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As the value of EU Emission Trading System (ETS) allowances continues to rise, companies and financial institutions are exploring ways to use ETS allowances as collateral in financial transactions. The process of taking security over these allowances, however, raises technical legal issues that requires careful planning and an understanding of the regulatory landscape. Learn more from Anne Lapierre and Véronique Bruel in this Bracewell Update: https://lnkd.in/e6KKbS28 #euets #renewableenergy #energytransition

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