March/April 2016 #66 – Law Journals

Banking: Strong bonds

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As lawyers and bondholders wait to see if there has been a settlement between Argentina and holders of its defaulted bonds, Mary Gibbons examines the most recent proceedings ‘Like the Foreign Sovereign Immunities Act 1976, the UK’s State Immunity Act 1978 provides defined immunity from execution of a foreign central bank’s accounts, but the formula …

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EU Regulation: The case of the disappearing debt

Ivan Shiu and Giles Hutt analyse the application of EU jurisdiction rules and the judgment in Goldman Sachs International v Novo Banco SA ‘The case does show how much mileage there might be for a defendant in questioning the scope of the Recast Brussels Regulation, even in a commercial dispute, where there is or appears …

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Privilege: Honest offers

Gwendoline Davies explains without prejudice privilege and highlights traps and tips for parties to any dispute or negotiation ‘While without prejudice privilege exists to encourage free negotiations and to facilitate settlement, it will only arise to protect parties in particular circumstances.’ If a communication between negotiating parties has without prejudice privilege, it will not be …

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Insights By Penningtons Manches: Access denied?

Richard Marshall and Clare Arthurs share some concerns over the proposed extension of the fixed-costs regime ‘We should avoid careering from what may in some cases be disproportionately high costs recovery straight to disproportionately low costs recovery.’ He’s tenacious, Jackson LJ, you have to give him that. In 2009 he suggested fixed recoverable costs across …

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Enforcement: Distant judgments

Anna Pertoldi reports on two recent cases concerning the enforcement of foreign judgments ‘The rules governing enforcement of a foreign judgment in England differ depending on where the judgment is from. None of the regimes permit a review of the foreign judgment based on an argument that the original court got it wrong, whether on …

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Practice: Blessed relief

Ron Cheriyan reviews the approach of the courts to relief from sanctions over the last year The Jackson reforms, which came into force in April 2013, heralded a sea change in the conduct of litigation in England and Wales. The reforms were introduced in an attempt to overhaul the court’s then existing approach to case …

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Bribery Act: It’s not easy being Green

Michael Roberts and Alex Hohl assess the past performance and future prospects of the SFO ‘For some time the Serious Fraud Office (SFO’s) continued existence has appeared to be under threat. The Home Secretary, Theresa May, has actively pursued ways in which to gain control over the SFO.’David Green QC’s reappointment as director of the …

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Shareholder Disputes: Improper intentions

Noel McMichael and Nicole Finlayson consider a recent Supreme Court ruling ‘The “proper purpose” rule is commonly applied to prevent the use of directors’ powers for the purpose of influencing the outcome of a general meeting.’ In December 2015, the Supreme Court handed down a significant judgment on the nature and effect of the ‘proper …

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Jurisdiction: Games without frontiers

Jamie Curle and Camilla Macpherson provide some pointers on drafting jurisdiction clauses from recent case law ‘The English courts will seek to give effect to the parties’ agreement on jurisdiction in the absence of strong reasons for departing from that agreement.’ As deals become ever more complex and global, the courts are increasingly being asked …

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