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Case review 20/04/2021
The Court of Appeal decision in Morley (t/x Morley Estates) v Royal Bank of Scotland Plc [11.03.21] considered whether a borrower had been subjected to economic duress or intimidation during negotiations with Royal Bank of Scotland (RBS) to restructure a loan.
Witness statements for trial executed on or after 6 April 2021 in the Business and Property Courts will face new significantly stricter rules and harsher punishments for non-compliance as Practice Direction 57AC (PD) comes into force.
Case review 08/07/2020
On 17 June 2020, the Supreme Court handed down judgment in the case of Bresco Electrical Services Limited v Michael J Lonsdale (Electrical) Limited reversing the Court of Appeal’s decision and holding that the two regimes of insolvency and adjudication are compatible.
Case review 04/05/2020
Unexplained Wealth Orders first hit the press in 2018 following the salacious spending spree of Zamaria Hajiyeva. A recent ruling from the High Court dismissing the NCA's request to pursue UWOs against three properties totalling more than £80 million serves as a helpful reminder that this helpful tool should be used proportionately.
Since the COVID-19 pandemic hit our shores, the courts have had to adapt very quickly to the number of new laws issued and court decisions reached in respect of remote proceedings, the main one being the Coronavirus Act (the Act) which came into force on 25 March 2020.
Case review 15/05/2019
On 26 March 2019, judgment was handed down in the above case. The outcome, in which Kennedys was instructed on behalf of the successful defendants, provides further clarity on how LPA receivers can fulfil their duties to act in good faith and to avoid conflicts of interest.
Authorised push payment fraud occurs when an individual or a business succumbs to a deception and instructs their payment service provider, usually their bank, to send money to another account. By the time the fraud is known and reported to the PSP, it is usually too late as the funds will have already been transferred.
Following a £16 million spending spree at Harrods from the wife of a now jailed banker that would make even Roman Abramovich’s eyes water, Unexplained Wealth Orders were thrown into the limelight when this became the first time the National Crime Agency pursued one.
We review the regulatory issues that can arise on the insolvency of an insurance broker and consider how to avoid the pitfalls when selling its major asset, the book of business.