Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.
The last week has seen a group of shippers bring a commercial fraud claim against the Bank of Scotland, the head of a Syrian laminate group sue United Insurance, and a dispute involving RBS and the failed Caterham Formula One Team. Here, Law360 looks at those and other new claims in the U.K.
The top appeals court for U.K. overseas territories has dismissed claims that Investcorp Bank BSC breached an agreement with a Dubai-based businessman who lost out when a series of leveraged hedge fund investments went sour during the 2008 financial crisis.
A property tycoon has denied claims he unlawfully extracted more than £14.5 million ($19.2 million) from businesses within property investment company Tonstate Group Ltd. and has issued a £600,000 countersuit in an increasingly bitter dispute with his wife's family.
A push to modernize the European Union value-added tax regime was put on hold Friday, with France and Italy refusing to sign up unless the measures also included a financial sector tax cut that the bloc's own executive arm said would be unworkable.
The High Court of Justice on Friday ruled that FSHC Group Holdings Ltd. can dodge new financial obligations giving its creditors rights over its assets that were mistakenly heaped upon it when it entered security documents with Barclays PLC to fix a gap in an intercompany loan facility agreement.