“A billionaire fraudster is set to lose three of his luxury properties in Britain’s most exclusive postcodes after a High Court ruling.”
The Independent, 22nd May 2013
Source: www.independent.co.uk
“Court of Appeal issues a judgment on sentences for the most serious commercial frauds and increases the sentences of two men.”
Attorney General’s Office, 16th May 2013
Source: www.gov.uk/ago
“Achilleas Kallakis, a conman who received a seven-year jail sentence in January, will spend a further four years behind bars after a British government lawyer called on senior judges for a tougher sentence.”
The Guardian, 16th May 2013
Source: www.guardian.co.uk
“The first UK trial concerning the alleged fraudulent manipulation of Libor rates has been delayed until next year after Barclays won the right to challenge aspects of the high court case.”
The Guardian, 29th April 2013
Source: www.guardian.co.uk
HSBC Bank plc v Tambrook Jersey Ltd [2013] EWHC 866 (Ch); [2013] WLR (D) 146
“The English court could not “assist” a foreign insolvency court for the purposes of section 426(4) of the Insolvency Act 1986 where there were no existing insolvency proceedings in the foreign jurisdiction or any intention to commence such proceedings.”
WLR Daily, 12th April 2013
Source: www.iclr.co.uk
“George Osborne has a secret veto over large and potentially politically sensitive fraud investigations, The Independent has learnt.”
The Independent, 23rd April 2013
Source: www.independent.co.uk
“The UK Government is challenging a proposed financial transaction tax (FTT) between 11 EU member states, saying that the plans do not respect the rights of countries not participating in the regime.”
OUT-LAW.com, 22nd April 2013
Source: www.out-law.com
“Up to 30,000 Santander mortgage customers are set to share millions of pounds in compensation after it emerged they may have lost out because of confusing letters sent by the bank more than four years ago.”
The Guardian, 19th April 2013
Source: www.guardian.co.uk
“A City banker was ‘victimised’ by her bank after it discovered she was suing her former employer for sexual discrimination, a tribunal has ruled. Latifa Bouabdillah was sacked by Commerzbank after less than a month when her boss heard she was suing her former employer, Deutsche Bank, for more than £1m in damages for sexual discrimination.”
The Guardian, 15th April 2013
Source: www.guardian.co.uk
“Following the announcement in June 2012 by the Financial Services Authority of a two month investigation in to the sale (and in particular mis-selling) of interest rate hedging products such as swaps, collars, structured collars there is considerable interest in whether such claims are likely, following Payment Protection Insurance, to become another key battleground in financial services litigation.”
No. 5 Chambers, 7th February 2013
Source: www.no5.com
“Last year I discussed Mr Justice Flaux’s decision in Graiseley Properties Limited and others v Barclays Bank plc [2012] EWHC 3093 (Comm) (see Littleton Comment on 4 December 2012). In that case Flaux J. had allowed amendments to plead fraudulent misrepresentation and breach of implied terms in relation to LIBOR which smoothed the path to claims which were, in essence, that the Bank had sold LIBOR-related products when it knew that its employees were attempting to ‘rig’ LIBOR rates for their own purposes (i.e. making their trades profitable) and that such conduct would disadvantage clients who relied on the Bank not attempting to manipulate LIBOR rates. Although I pointed out that allowing the amendments, which lacked the particularity to be expected, was unusual, I also observed that ‘This is a welcome and realistic approach to the difficulties faced by customers in claims against banks.'”
Littleton Chambers, 15th April 2013
Source: www.littletonchambers.com
“Just 30 out of 227,000 people have failed the City regulator’s ‘fit and proper’ test to take on some of the most risky jobs in British banks since the onset of the financial crisis.”
The Guardian, 12th April 2013
Source: www.guardian.co.uk
“The government is facing the threat of a judicial review into its handling of an investigation into Barclays’ involvement in a state-backed loan scheme.”
The Guardian, 10th April 2013
Source: www.guardian.co.uk
“The three executives who ran HBOS bank in the runup to its near-catastrophic collapse have been slated for their ‘colossal failure’ of management in a scathing report which calls for them to be held to account by the City regulator.”
The Guardian, 4th April 2013
Source: www.guardian.co.uk
“A new system of regulation will oversee businesses in the financial services sector after reforms to the previous regime took effect on Monday.”
OUT-LAW.com, 2nd April 2013
Source: www.out-law.com
“New rules to govern the abuse of sales of ‘packaged accounts’ from banks have come into force.”
BBC News, 31st March 2013
Source: www.bbc.co.uk
“Britain’s new financial watchdog has pledged to clean up the financial services sector by using new powers to suspend or ban products if they appear harmful to consumers.”
The Guardian, 25th March 2013
Source: www.guardian.co.uk
“Lord Neuberger, President of the Supreme Court, made the following statement in open court this afternoon:
‘Yesterday morning, having heard full argument on the issue the previous day, we decided, for reasons to be given later – and, it should be added, by a majority of six to three – that we had power to consider the closed judgment of Mr Justice Mitting (‘the closed judgment’) in this case. This would involve part of this hearing being conducted in private without Bank Mellat or its representatives being present. We also indicated that, on the basis of the arguments we had so far heard, we were not persuaded that it was necessary to take such a course.'”
Supreme Court, 21st March 2013
Source: www.supremecourt.gov.uk
“Extraordinary developments in the Supreme Court today as the court, for the first time in its history, conducted a secret hearing during which one of the parties, an Iranian Bank, was not allowed to take part. Full background to the case, Bank Mellat (Appellant) v HM Treasury (Respondent) is here.”
UK Human Rights Blog, 21st March 2013
Source: www.ukhumanrightsblog.com
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