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High Court Orders Claimant To Pay Defendant's Costs After Recovering Just 1.6% Of Its Professional Negligence Claim
The High Court has ruled that a company in liquidation must pay 85% of its former auditor's costs despite winning a professional negligence claim, after recovering only 1.6% of the damages sought. The decision examines when a claimant can be considered the 'successful party' for costs purposes and reinforces the high threshold for avoiding standard Part 36 offer consequences.
United Kingdom Litigation
KL
Herbert Smith Freehills Kramer LLP
Article
HM Treasury Designates Four Critical Third Parties To The UK Financial System
HM Treasury has designated four major global cloud and technology providers as critical third parties under the UK's new operational resilience regime, granting financial regulators direct oversight powers over systemic services that could threaten financial stability. The designations mark the first implementation of rules established under the Financial Services and Markets Act 2023, mirroring the EU's DORA framework while maintaining a targeted, risk-based approach to protecting the UK financial system f
United Kingdom Finance
KM
Katten Muchin Rosenman LLP
Article
Travers Smith's Alternative Insights: The Dangers Of Over-Zealous Enforcement
The UK's new government faces a delicate challenge: raising revenue from higher earners while maintaining London's status as a global financial hub. Recent Supreme Court victories by HMRC against major hedge funds signal an increasingly aggressive stance on executive remuneration that could pose fresh obstacles for private capital firms already grappling with carried interest reforms and non-dom rule changes.
United Kingdom Tax
TS
Travers Smith LLP
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The 6 Most Common EMIR Reporting Errors (Video)
TRAction