‘Lloyds Banking Group has scrapped commission payments across its £15bn motor finance arm after a landmark ruling on car loan misselling, as industry and Treasury officials hold urgent talks amid fears of contagion across the wider financial sector.’
The Guardian, 30th October 2024
Source: www.theguardian.com
‘A well-known sports law firm has failed to convince the High Court to restrain a litigation funder from advertising a winding-up petition over a loan it has not repaid.’
Legal Futures, 28th October 2024
Source: www.legalfutures.co.uk
‘By a Judgment handed down on 30 September 2024 the Court of Appeal dismissed an appeal by Ms Isabel dos Santos against a worldwide freezing order (WFO) and a consequential costs order granted against her by Bright J on 20 December 2023. The Judgment provides welcome clarity in the wake of conflicting authority on the proper approach to the merits threshold for obtaining a freezing injunction, and also confirms the approach to be taken on costs.’
The 36 Group, 9th October 2024
Source: 36group.co.uk
‘Champions are claiming success over Premier League and we look at what the ruling means and possible ramifications.’
The Guardian, 8th October 2024
Source: www.theguardian.com
‘Manchester City are claiming victory in their landmark legal battle with the Premier League over the associated-party transaction (APT) rules that govern commercial spending by state and multi-club ownerships.’
Daily Telegraph, 7th October 2024
Source: www.telegraph.co.uk
‘An entrepreneur was sentenced today (20 September 2024) for fraudulently obtaining a COVID-19 Bounce Bank Loans to a value of £50,000.’
Crown Prosecution Service, 20th September 2024
Source: www.cps.gov.uk
‘A businessman has been banned from being a company director after making bogus claims for £145,000 in Covid-19 support grants.’
BBC News, 3rd September 2024
Source: www.bbc.co.uk
‘A City law firm will be able to fully defend itself from serious allegations in the High Court after a judge held that its former clients cannot claim legal professional privilege (LPP) because of the iniquity exemption.’
Legal Futures, 29th August 2024
Source: www.legalfutures.co.uk
‘The First Respondent (“LCL”) agreed to loan £1,881,000 to the Third Appellant, CEK Investments Limited (“CEK”), for a period of 12 months. The loan was secured by a debenture over CEK’s assets, personal guarantees from CEK’s directors the First Appellant and her husband (who had subsequently died and whose estate was now represented by their son, the Second Appellant), and mortgages over 5 buy-to-let properties and their family home.’
Falcon Chambers, 4th July 2024
Source: www.falcon-chambers.com
‘Lenders should be aware that despite their static nature, IP addresses have been classified as floating charge assets under a loan security agreement by a recent decision of the High Court of England and Wales. There are legal and practical considerations for lenders and their advisers when securing digital assets, following the ruling.’
OUT-LAW.com, 7th June 2024
Source: www.pinsentmasons.com
‘A banking fraudster has been sentenced for making fake applications to banks and a pension company to obtain loans, banking, and pension facilities, totalling around £178,000 in potential losses.’
Crown Prosecution Service, 24th May 2024
Source: www.cps.gov.uk
‘An 83-year-old loan shark has been ordered to pay more than £173,000.’
BBC News, 29th April 2024
Source: www.bbc.co.uk
‘The High Court has ruled that a law firm and four of its former partners must repay money borrowed under loan agreements with a husband and his wife.’
Legal Futures, 23rd April 2024
Source: www.legalfutures.co.uk
‘In 2006 Mrs Potter entered into a credit agreement (under the Consumer Credit Act 1974) with Canada Square. She borrowed c.£21K, being a loan of £17K and a PPI premium of £4K (arranged for her by Canada Square). c.£200 was paid to the insurer, with 95% of the premium going to Canada Square, who did not tell Mrs Potter about the commission.’
New Square Chambers, 16th November 2023
Source: www.newsquarechambers.co.uk
‘In upholding the Court of Appeal’s outcome, the Supreme Court has fundamentally reformulated the approach to s.32 of the Limitation Act 1980.’
Henderson Chambers, 17th November 2023
Source: www.hendersonchambers.co.uk
‘The High Court has struck out a £6m negligence claim brought by a former Premier League footballer against City firm Charles Russell Speechleys (CRS).’
Legal Futures, 4th December 2023
Source: www.legalfutures.co.uk
‘A London law firm that took an assignment of nearly £2.5m owed to a client to pay its fees has been granted summary judgment by the High Court.’
Legal Futures, 31st July 2023
Source: www.legalfutures.co.uk
‘This appeal relates to the interpretation of the Immigration Rules, in particular the Tier 1 (Investor) Migrant regime (as in force in December 2017 – it has since been closed). This regime was designed to grant leave to remain to high-net-worth individuals making a substantial financial contribution to the UK. To qualify individuals were required to have £1 million (of either their own money or money borrowed from a UK-regulated financial institution) under their control in the UK. They must also have invested at least £750,000 of such sum in the UK through UK Government bonds or in shares in or loans to active and trading UK-registered companies (subject to certain further restrictions and exclusions).’
EIN Blog, 21st June 2023
Source: www.ein.org.uk
‘A litigant described as having a “relaxed and frankly reckless” approach to timely service of documents has been denied relief in the Court of Appeal.’
Law Society's Gazette, 15th June 2023
Source: www.lawgazette.co.uk
‘In a novel application of the ancient equitable jurisdiction that protects a debtor’s right to redeem mortgaged property, after a short trial, Mr Justice Green granted Fortenova Grupa’s redemption action against LLC Shushary Holding – a subsidiary of VTB Bank PJSC, sanctioned in the UK, EU and US. The action concerned €1.157bn of senior secured floating rate notes issued by Fortenova and due to mature in September 2023; 38% of the notes were owned by Shushary.’
Law Society's Gazette, 26th May 2023
Source: www.lawgazette.co.uk
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