Customer details do not have to be disclosed to unpaid bondholder
A respondent must be mixed up or involved in the wrongdoing complained of by the applicant before the court will make an order requiring him to disclose information in his possession concerning a wrongdoer or wrongdoing (a Norwich Pharmacal order). It is imperative to identify the wrongdoing accurately.
NML Capital Ltd (the appellant) is a vulture fund that purchased debts owed by the Republic of Argentina. It obtained judgment against Argentina in the New York and English courts and was seeking to enforce its judgments against assets around the world. Because of the risk of enforcement against Argentina’s assets, the office of the president of Argentina did not want to use the presidential aircraft during a tour of Asia in early 2013 for fear that it would be impounded outside of Argentina.
The office therefore entered into a sub-charter contract with Chapman Freeborn Airchartering Ltd, one of the respondents to charter a plane. The price was $880,000 (£550,000), with half being paid in advance and half due at a later date…
If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.
News from Taylor Wessing
Briefings from Taylor Wessing
New rules will apply to most businesses selling to consumers in the EU, including to those selling online from outside the EU, from no later than 13 June 2014.
Last year — 2013 — was a considerably less eventful year for German gambling law than 2012, which saw significant reforms within the industry.
Analysis from The Lawyer
The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world
Financial disputes are starting to dominate the English courts as the long-awaited fallout from the downturn finally comes to town