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Barton v Morris (2023) – No finders keepers with this finder’s fee

Barton & Others V Morris & Another (in place of Gwyn Jones [deceased]) [2023] UKSC 3 Introduction The judgment in the case of Barton v Morris was handed down by the Supreme Court on January 25th, 2023. The main issue the court was asked to answer was: When a seller of the property agrees to […]

ISDA Urges End to Option Extension Exemptions

On the 3rd of March 2023, a follow-up letter was sent from the ISDA, the Alternative Investment Management Association (AIMA) and the Investment Association to the PRA and the BoE. This letter set out the proposal to make permanent UK EMIR temporary exemptions for certain equity options by removing initial margin and variation margin.   […]

LBHI v LBIE (2017) – Friendly fire over the insolvency waterfall

The Joint Administrators of LB Holdings Intermediate 2 Ltd v The Joint Administrators of Lehman Brothers International (Europe) & Others [2017] UKSC 38 Summary The previous Court decided that the creditors who suffered a loss due to currency fluctuations between the administration date and the payment date were not able to claim the loss as […]

First Tower Trustees v CDS (2018) – Limited liability in asbestos misrepresentation case fails the sniff test

First Tower Trustees Ltd & Another v CDS (Superstores International) Ltd [2018] EWCA Civ 1396 Summary Under the Misrepresentation Act 1967 s.3 both non-reliance clauses and contractual estoppel were not immune from scrutiny. Clauses like this could not prevent liability from arising if they failed to satisfy the reasonableness test under the Unfair Contract Terms […]

Re Lehman Brothers International Europe (2012) – Maybe Lehman can be trusted with client money after all

In the matter of Lehman Brothers International (Europe) (In Administration), and In the matter of the Insolvency Act 1986 [2012] UKSC 6 Summary This article summarises the February 2012 UK Supreme Court case on Lehman Brothers. The judgment can be found here. We also have a blog on the High Court case of the same […]

Lehman v Firth Rixson (2022) – Lehman is back, and it can collect on its debts

Grant & Others v Firth Rixson Acquisitions Corporation (Europe) Ltd & Another (Re Lehman Brothers International (Europe)) [2022] EWHC 2532 (Ch) A recent High Court case involves the administrators of Lehman Brothers’ European firm, and raises the possibility of the bank returning as a going concern. Facts of the Case: This case involved two interest […]

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