In a landmark judgment on private actions for damages for infringement of competition law, the Court of Appeal has clarified the law in this field, reconciling considerable differences in the approach taken to multilateral interchange fees in cases before the Competition Appeal Tribunal and Commercial Courts. On the central question in issue, the Court allowed […]
On 29 June 2018, following a three-week trial, the Commercial Court handed down its judgment in the high-profile proceedings between Edgeworth Capital (Luxembourg) S.à.r.l. v Aabar Investments PJS. Edgeworth is a Luxembourg SPV associated with the well-known businessman Robert Tchenguiz. Aabar is an Abu Dhabi investment company, which is now wholly owned by Mubadala Investment […]
Terra Firma has successfully obtained rectification of the terms of a private equity financing transaction completed in 2012, concerning the Four Seasons care homes business [FSHC Group Holdings Limited v Barclays Bank Plc]. The transaction required the Parent company to provide security over a particular shareholder loan which was part of the overall funding package. […]
In Kamoto Copper Company SA v Africa Horizons Investments Ltd and Ventora Development SASU  EWHC 1086 (Comm) , Mr Justice Males ordered an anti-suit injunction against the defendant companies on the claimant’s application after the second defendant commenced proceedings in the DRC claiming US$2.857bn in relation to the alleged assignment of a royalties agreement…
By Olivier Bustin and Pierrick Ferrero Following the actions by the Ivory Coast in 2014, as well as Burkina Faso, Cameroon and Senegal in 2016, who adopted a new mining code, the DRC has recently revised its mining code enacted in 2002…
The Financial Conduct Authority (FCA) is considering a new consumer protection duty of care for financial services firms. Walker Morris Banking and Finance Litigation partners Louise Power and Rob Aberdein explain.
By Brian Craig The European Parliament has passed a non-binding resolution calling for the European Commission to suspend the EU-US Privacy Shield if the US does not comply with its requirements by 1 September 2018…
The Dutch Data protection authority (Autoriteit persoonsgegevens –“AP”) recently informed the public that they were assessing the GDPR compliance level of large companies in the Netherlands. In doing so, the authority took advantage of its new powers under article 30.4 of the EU General Data Protection Regulation…
By Bernadine Adkins Yesterday, the European Commission released a Communication entitled ‘Preparing for the withdrawal of the United Kingdom from the European Union on 30 March 2019′. It outlines the steps that business should take to prepare for the UK leaving the EU. The Communication’s message is clear: “On 30 March 2019, the United Kingdom […]
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Bryan Cave Leighton Paisner (BCLP), Hogan Lovells and Eversheds Sutherland have acted on Facebook’s acquisition of new office space in the City, doubling its footprint in the capital. The move sees Facebook acquire over 600,000sq ft of space in Kings Cross. BCLP advised longstanding client King’s Cross Central Limited Partnership (KCCLP) on the pre-let sale, led by […]
Mayer Brown has hired two partners from Norton Rose Fulbright’s London office as the firm looks to strengthen its global white-collar and investigations practice. Norton Rose Fulbright head of business ethics and anti-corruption Sam Eastwood will join the firm on 20 August, while dispute resolution and investigations partner Jason Hungerford joins Mayer Brown with immediate […]
Burges Salmon’s average profit per equity partner (PEP) has dropped for the second year in a row, while revenue nudged up 3 per cent to hit £90m. The Bristol-headquartered reported a dip in PEP of nearly 2 per cent from £435,000 to £430,000. Since recording a PEP high of £523,000 in 2015/16, Burges Salmon has […]
City litigation heavyweights are preparing for the latest case between Ukrainian lender PrivatBank and its former owners, the Ukrainian oligarchs Gennadiy Bogolyubov and Igor Kolomoisky, which could be worth up to $2.6bn (£2bn). Partners from Hogan Lovells, Skadden Arps Slate Meagher & Flom, Fieldfisher and Pinsent Masons will face off in the High Court as PrivatBank alleges […]
Dechert has completed the mass hire of 29 lawyers from Quinn Emanuel Urquhart & Sullivan’s product liability team in the US. The group has been joining since the end of May, after the arrival of Quinn’s product liability co-chairs Sheila Birnbaum and Mark Cheffo. The pair made the move with fellow partner Douglas Fleming, another […]