Walker Morris Banking Litigation partners Louise Power and Rob Aberdein explain the new regulatory regime and the Financial Conduct Authority’s proposals for changes to the regulation of claims management companies across England, Wales and Scotland…
The Courts have re-affirmed that, despite a contract containing an express right of set-off, it is only in exceptional circumstances that a party will be entitled to set-off another claim against an Adjudicator’s award. This case serves as a helpful reminder that a right to set-off is unlikely to apply to an Adjudicator’s decision. The […]
This edition contains the following briefings: Contract valid despite parties’ common mistake An entirely surprising interpretation of an entire agreement clause Excluding liability effectively Successful settlements ‘Non-reliance’ clause found not reliable to defeat misrepresentation claim Of ‘Supreme’ Significance
The Government made clear in its March 2018 Pensions White Paper that it is committed to ensuring that the Pensions Regulator (Regulator) has the right powers to be able to protect effectively defined benefit pension schemes. On 29 June 2018 the Department for Work and Pensions (DWP) published a consultation paper setting out the Government’s […]
Walker Morris has reported previously on the Financial Conduct Authority’s (FCA) proposals for the handling of Payment Protection Insurance (PPI) complaints and for dealing with the so-called ‘Plevin problem’ (that is, the uncertainty following the Supreme Court’s decision that non-disclosure of a significant amount of PPI commission earned by a lender created unfairness in the lender/borrower […]
On 19 June 2018, the Department of Telecommunications, Government of India (DoT) finally provided its nod to several key recommendations (Recommendations) made by the Telecom Regulatory Authority of India (TRAI) on the Regulatory Framework for Internet Telephony in October 2017. DoT has released a clarification (Clarification) and certain amendments to existing licenses (Amendment), both of […]
On 12 July 2018, the European Commission adopted two delegated regulations supplementing the Alternative Investment Fund Managers Directive (AIFMD) and the Undertaking for Collective Investment in Transferable Securities Directive (UCITS) on the safekeeping of assets by depositaries and their delegates. Their main purpose is to eliminate discrepancies among different national regulations. The following aspects will […]
By Siobhan Fitzgerald The social care sector is breathing a sigh of relief after the Court of Appeal in Royal Mencap Society v Tomlinson-Blake reversed previous cases and decided that only time spent awake and working should be counted as working time for the purposes of calculating the national minimum wage.
By Richard Hayllar On the 12 July 2018, the Financial Ombudsman Service (the FOS) published a report on an Independent Review carried out by Richard Lloyd (former Which? executive). The review was undertaken following the broadcast of the Channel 4 Dispatches programme which set out a number of concerns about the handling of FOS complaints.
Kicking off our series on efficiency in arbitration, our first article, Efficient Arbitration – Part 1: Metrics sets out our idea of an efficient arbitration: Achieving the best possible outcome with the least amount of resources. A range of tools are available to focus the spending of resources. Resources should be invested, not wasted. The selection of […]
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An 8 per cent increase in turnover at Mishcon de Reya last year saw the firm break through the £160m barrier for the first time in its history, posting £161.3m for the 2017/18 financial year. The increase in the firm’s top line means it has now added more than £30m in revenue growth in the […]
Gateley’s revenue has increased by 11 per cent from £77.6m to £86.1m in its third full year as a listed entity. The firm posted double-digit rises across the board for 2017/2018, with profit before tax increasing by nearly 12 per cent from £13.1m in 2016/2017 to £14.6m. Adjusted earnings before interest and tax (EBITDA) saw a […]
A High Court judge has slammed Pinsent Masons for its actions following the death of Russian oligarch Nikolay Glushkov, accusing the firm of having lost “sight of any basic standard of decent and compassionate behaviour” in a long-running case brought by Russian airline Aeroflot. The litigation centered around allegations made against, among others, the late Russian oligarch […]
Freshfields Bruckhaus Deringer and Paul Hastings have picked up lead roles on the latest bumper deal in the increasingly active telecoms sector. The magic circle firm has been advising South African company MTN Group on its sale of subsidiary company MTN Cyprus to Monaco Telecom for approximately €260m. Paul Hastings is representing the buyer Monaco […]
CMS Cameron McKenna Nabarro Olswang is to nearly halve the size of its Reading office after a review affecting the firm’s real estate practice, just over a year into its tripartite merger. The Lawyer understands the firm held a consultation with seven fee-earners in the real estate asset management practice, with the majority of the group relocating to […]
The former general counsel of MarketInvoice Simon Coles has joined fintech start-up Capital On Tap as its first legal head. Capital On Tap provides tech-driven funding facilities to SMEs and enables customers to access instant funding to grow their business. Before his stint as general counsel at cashflow finance provider MarketInvoice, which ended last year, […]