Financial Services UK

UK Corporations Face Growing Risk Of Class Actions

Recent years have seen an increased focus on class action litigation in U.K. courts, with a rise in high-profile and high-value claims being brought against corporate defendants. Furthermore, various factors suggest that the trend is likely to continue, say attorneys at Herbert Smith Freehills LLP.

Tax Enforcers Unite Against International Tax Crime

In light of the launch of the Joint Chiefs of Global Tax Enforcement alliance against transnational tax crime and money laundering, it is more important than ever for corporations and professional services firms to carefully manage their exposure to higher risk clients and business activity, say Kyle Wombolt and Jeremy Birch of Herbert Smith Freehills LLP.

Goldman Sachs Decision Raises Bank Failure Questions In UK

Depending on your political beliefs, the U.K. Supreme Court's recent judgment in Goldman Sachs v. Novo Banco either illustrates the benefits of remaining in the European Union or highlights the dangers of not breaking free from it, says Ben Pilbrow of Shepherd and Wedderburn LLP.

Opinion

A Revolution For 3rd-Party Funding In The UK

Only 10 years ago, third-party funding was an exotic black art at the fringes of appropriate behavior in the United Kingdom. Now it is formally approved and championed by Court of Appeal judges and there is a wide range of funding options available to practitioners, says Guy Harvey of Shepherd and Wedderburn LLP.

UK Seeks To Balance Asset Protection And Protectionism

In response to the evolving geopolitical threats of the 21st century, the United Kingdom at the end of July began an initiative to enhance its powers to review or block foreign acquisitions of sensitive British assets. The challenge will be striking a balance between protecting legitimate strategic concerns and facilitating international investment, say attorneys at King & Spalding LLP.

Is It Time To Prosecute UK Cos. For Human Rights Violations?

The idea of holding companies criminally liable for human rights abuses committed overseas has gained traction over the past decade. Though the U.K. government has made it clear that it has no immediate plans for further legislation in this area, calls for corporate criminal liability are only likely to get louder, say Andrew Smith and Alice Lepeuple of Corker Binning.

6 Trends Will Shape Future International Commercial Disputes

The world of international litigation and arbitration tends to move slowly — however, I expect the pace of change to accelerate in the coming decade as six trends take hold, says Cedric Chao, U.S. head of DLA Piper's international arbitration practice.

Fortis Case Confirms Viability Of Dutch Settlement Law

A Dutch court's approval this month of a €1.3 billion ($1.5 billion) collective settlement of claims brought by shareholders of the former Fortis shows that the Dutch Act on Collective Settlement of Mass Claims can be used to resolve transnational disputes on a classwide, opt-out basis, say Jonathan Richman of Proskauer Rose LLP and Ianika Tzankova of Tilburg University.

UK Reflective Loss Rule Impedes Shareholder Recovery

The U.K. High Court's recent decision in Breeze and Another v. Chief Constable of Norfolk illustrates the great difficulty shareholders face when trying to recover loss caused by a wrong done to a company, especially if the company is unwilling or unable to pursue the claim itself, say David Gerber and Joshua Reynolds of Arnold & Porter.

FCPA Liability For Hiring Practices Gains New Credence

The U.S. Department of Justice and the U.S. Securities and Exchange Commission have stood by an expansive theory of anti-bribery liability under the Foreign Corrupt Practices Act for corrupt hiring schemes. After the recent Credit Suisse resolutions, the theory appears to be here to stay, says Bruce Searby, a partner at Searby LLP and a former federal prosecutor.