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By Sean Gibbons, Michael Bundock
In what circumstances are the owners of a vessel entitled to reject charterers’ orders because they believe that the vessel may be subject to the threat of piracy? This important question has been considered by the High Court in the case of Pacific Basin v Bulkhandling Handymax, 8 November 2011.
By Jonathan Kirsop
Cloud computing has been much discussed over recent years and is thought by many in the industry to represent the future for IT and data management. The model – whereby data storage and processing is carried out by a service provider on the internet (or in "the Cloud") rather than on the hard drives and/ or servers of individual entities – is particularly attractive to the SME community as it allows them to avoid the need to build and maintain extensive hardware infrastructure to support data wa
By Edward Davis, Sue Millar
In Sebastian Holdings Inc v Deutsche Bank AG [2010] EWCA Civ 998, the Court of Appeal upheld the finding of Walker J that the English Court had jurisdiction to hear Deutsche Bank’s claim against Sebastian Holdings Inc in circumstances where the latter commenced prior proceedings in New York under a competing jurisdiction clause.
By Edward Davis, Sue Millar
In Royal Bank of Scotland PLC v Highland Financial Partners LP & Ors [2010] EWCA Civ 809, the Court of Appeal considered points of construction of agreements entered into in respect of a proposed collateralised debt obligation.
By Sue Millar, Edward Davis
In Springwell Navigation Corporation v JP Morgan Chase Bank (formerly Chase Manhattan Bank) and Others [2010] EWCA Civ 1221, the Court of Appeal has confirmed the decision of Mrs Justice Gloster and rejected claims by an investor for damages for negligent misstatement and misrepresentation.
By Edward Davis, Sue Millar
In Lomas and Others v JFB Firth Rixson, Inc and Others [2010] EWHC 3372 (Ch), the High Court considered the meaning and effect of Section 2(a)(iii) of the ISDA Master Agreement (1992 and 2002 versions), which provides that the payment obligations of the parties are subject to the condition precedent that no event of default is continuing with respect to the other party.
By Edward Davis, Sue Millar
In our July 2010 Edition, we reported on two cases, Berliner Verkehrsbetriebe Anstalt v JP Morgan and Depfa Bank plc v Provincia Di Pisa, in which Defendants to claims for the enforcement of swap agreements attempted to use Article 22.2 of the Brussels Regulation to by-pass an agreed jurisdiction clause.
By John Buyers, Caroline Choe
The long running case between British Sky Broadcasting ("Sky") and Electronic Data Systems, now HP Enterprise Services ("EDS") has now finally been decided in a decision that has taken 15 months alone for the judgement to be released.
By Sue Millar, Edward Davis
In four recent decisions, the English Court has considered, and provided some clarification on, the appropriate approach in relation to jurisdiction clauses in complex banking transactions, and the granting of anti-suit injunctions.
By Edward Davis, Sue Millar
In R (on the Application of Mercury Tax Group Limited and another) v HMRC [2008] EWHC 2721 (Admin) the Court held that the final form of a deed was invalid where the signature pages on an incomplete draft had been transferred to execute a later amended version.
By Edward Davis, Sue Millar
In Bank of Scotland Plc v (1) Constantine Makris (2) Ben O'Sullivan (2009) (Ch D), the Court considered the validity of a guarantee in light of a variation to the underlying facility agreement between the bank and the borrower company in the form of a reduction in the amount of the facility.
By Edward Davis, Sue Millar
In Golden Key Ltd (In Receivership) [2009] EWCA Civ 636 the Court of Appeal had to construe the complex documents governing the relationship between a structural investment vehicle and its noteholders.
By Edward Davis, Sue Millar
In a recent decision (In the matter of Kaupthing Singer & Friedlander Ltd (in administration) [2009] [EWHC 740 (Ch)), the High Court found that a creditor of a bank in administration was not entitled to set-off a payment, otherwise due to the bank under an instrument of deposit, against the amounts owed to it by the bank.
By Edward Davis, Sue Millar
In (1) UBS AG (2) UBS Securities LLC v HSH Nordbank AG [2009] EWCA Civ 585 the Court of Appeal, in agreeing with the decision of the High Court that the proper jurisdiction for proceedings to be brought was New York, found that it was necessary to construe a jurisdiction clause in the light of the transaction as a whole
By Edward Davis, Sue Millar
In Golden Key Ltd (In Receivership) [2009] EWHC 148 (Ch) the High Court has held that there should be no presumption that parties to a bankruptcy remote arrangement intended that creditors within the same class would be repaid pari passu in the period following a default.