‘Sections 78 and 80 of the Value Added Tax Act 1994 could not be construed in such a way as to conform with European Union law and therefore had to be disapplied so as to allow the claimant companies to pursue their claims to recover the full value of overpaid value added tax.’
WLR Daily, 28th March 2014
Source: www.iclr.co.uk
Durkin (Appellant) v DSG Retail Ltd and another (Respondents) (Scotland) [2014] UKSC 21 (YouTube)
Supreme Court, 26th March 2014
‘HM Revenue & Customs (HMRC) has insisted it will appeal against a high court decision to award Sir David and Sir Frederick Barclay’s Littlewoods catalogue shopping business £1.2bn in a top-up settlement relating to a long-running legacy VAT dispute.’
The Guardian, 28th March 2014
Source: www.guardian.co.uk
‘One quarter of payday lenders may pull out of the market under pressure from new regulations. The Financial Conduct Authority (FCA) is to investigate the way they treat borrowers struggling to repay loans. It has said the review will be one of its first actions when it takes over regulation of the consumer credit sector on 1 April.’
BBC News. 12th March 2014
Source: www.bbc.co.uk
‘As many will be aware, the recent RBS swaps cases have thrown up interesting issues, including the proper characterization of legal duties owed by banks and other regulated firms, standard form limitation/exclusion terms, and Limitation Act problems. These issues are further complicated by the LIBOR manipulation points raised in Graisely Properties v Barclays.’
No. 5 Chambers, 24th February 2014
Source: www.no5.com
‘Sixty victims of loan sharks are in witness protection, according to the country’s leading official tasked with breaking the cycle of fear, intimidation and violence trapping families who have borrowed money from illegal lenders.’
The Guardian, 24th January 2014
Source: www.guardian.co.uk
‘The High Court has given a strong steer that successful parties can rarely expect to recover interest on the fees they have already paid to their solicitors.’
Litigation Futures, 7th January 2014
Source: www.litigationfutures.com
‘The Government will introduce legislation to cap the cost of payday loans to borrowers, the Chancellor of the Exchequer has announced.’
OUT-LAW.com, 27th November 2013
Source: www.out-law.com
‘George Osborne said the cap on the overall cost of credit was the next logical step as the coalition sought to regulate what had been a wholly unregulated market.’
The Guardian, 25th November 2013
Source: www.guardian.co.uk
“Interest- Rate Hedge Products (‘IRHPs’) include a variety of different products sold to customers to help protect them against interest rate risk. The down side is that such products are often complex and structured to produce adverse financial effects for the customer if the Bank of England Base Rate (‘Base Rate’) goes down. And we all know that is exactly what has happened in recent years. This has given rise to a wave of IRHP mis-selling claims.”
Littleton Chambers, 23rd October 2013
Source: www.littletonchambers.com
“One of the difficulties encountered when advising clients as to the merits of their claim that they have been mis-sold an Interest Rate Hedging Product (IRHP), usually an Interest Rate Swap, is the paucity of decided case law concerning the sale of such products.”
No. 5 Chambers, 21st October 2013
Source: www.no5.com
Prudential Assurance Co Ltd v Revenue and Customs Comrs [2013] EWHC 3249 (Ch); [2013] WLR (D) 411
“It was within the scope of conforming interpretation to construe section 790 of the Income and Corporation Taxes Act 1988 as providing for the grant of a tax credit for foreign dividends to the extent necessary to secure compliance with European Union (‘EU’) law.”
WLR Daily, 24th October 2013
Source: www.iclr.co.uk
“Buy-to-let landlords are threatening to take legal action against what they say are unjustified interest rate rises.”
BBC News, 26th October 2013
Source: www.bbc.co.uk
“This week has brought further news on the Libor interest rate fixing saga, with UK broker ICAP receiving an $87m fine.”
Competition Bulletin from Blackstone Chambers, 26th September 2013
Source: www.competitionbulletin.com
“Three Manchester loan sharks who charged vulnerable people 100% interest and menaced them by mobile phone have been jailed.”
BBC News, 24th September 2013
Source: www.bbc.co.uk
Regina (Gibson) v Secretary of State for Justice: [2013] EWHC 2481 (Admin); [2013] WLR (D) 344
“Where the Crown Court fixed a term of imprisonment in default of a sum recoverable under a confiscation order the words ‘at the time the period of detention was imposed’ in section 79(2) of the Magistrates’ Courts Act 1980 meant the time when the default term was activated by the magistrates’ court, not the time when it was fixed by the Crown Court, for the purposes of calculating a reduction in the term of imprisonment.”
WLR Daily, 4th September 2013
Source: www.iclr.co.uk
“At least less risky for property investors. That is the basis of the Upper Tribunal’s decision in Voyvoda v Grosvenor West End Properties, which we have managed to miss reporting because of the Summer break.”
NearlyLegal, 3rd September 2013
Source: www.nearlylegal.co.uk
“Mortgage providers must be able to demonstrate that they have treated customers fairly in cases where those individuals are unable to repay the capital sum owed at the end of the term on an interest-only mortgage, the Financial Conduct Authority (FCA) has said.”
OUT-LAW.com, 30th August 2013
Source: www.out-law.com
“The Court of Appeal has dealt a blow to businesses bringing claims against banks for allegedly mis-selling interest rate swaps products by dismissing a claim against the Royal Bank of Scotland.”
Law Society’s Gazette, 5th August 2013
Source: www.lawgazette.co.uk
“Gurprit Mattu gives an overview of the newly formed FCA and the workings of the Enforcement and Financial Crime Division. During her time at the FSA/FCA she has been able to see the transition from the old to the new regulator at first hand.”
Full story (PDF)
Dyers Chambers, 11th July 2013
Source: www.dyerschambers.com
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