The last week has seen Deutsche Bank sue a British law firm, a new insolvency filing by a Lehman creditor against the defunct bank's trustees and a dispute between an insurance-backed guarantee underwriter and a Lloyd's broker. Here, Law360 looks at those and other new claims in the U.K.
Latham & Watkins LLP worked its way back onto Law360’s Global 20 list after a year of continent-spanning work representing the Kingdom of Saudi Arabia and Vista Oil & Gas, among others, in deals and offerings that were sometimes firsts of their kind in the client’s homeland.
The European Union’s chief Brexit negotiator welcomed Theresa May’s “constructive” speech on Britain’s exit from the EU on Friday, but urged the U.K.'s prime minister to swiftly establish a precise negotiating position.
Payment service providers need to fine-tune their procedures for tackling terrorist financing and money laundering in electronic fund transfers to bring themselves into line with European Union standards, according to final guidelines issued by the bloc's financial regulators on Friday.
British Prime Minister Theresa May on Friday proposed a two-year transition period following Britain’s exit from the European Union that would see the country's current regulatory framework stay in place until 2021.
European insurers will be forced to put consumers first when they develop and market policies from next year under new rules adopted by the European Commission.
The European Union and the U.S. were due to sign a landmark deal on Friday to open up access for insurance firms to each other’s markets and wind down hefty collateral requirements for transatlantic reinsurers.
The European Union’s highest court said Thursday that financial services do not pass the necessary “public interest” test for certain value added tax exemptions, in a pair of judgments that narrow the scope of cost-sharing regimes in member states.
In the past year, Dechert has provided Brexit-related advice across a spectrum of practice areas, guided WhiteWave Foods through competition issues pertaining to its acquisition by Danone and defended Ecuador against arbitration brought by a ConocoPhillips subsidiary, again earning it a spot on Law360’s Global 20 list.
The U.K. government has helped stabilize motor insurance premiums with its pledge to reform compensation payouts for car crash victims, although bills are still rising at five times the rate of inflation, new data showed on Thursday.
The European Union's top financial regulators see Britain's exit from the EU and the booming financial technology sector as significant risk factors for the banking sector and the economy, according to their latest market assessment issued Thursday.
Global law firm Clyde & Co. LLP unveiled a service on Thursday that will help insurers develop “smart” policies that could be constantly updated to cope with evolving risk and make payments without customers ever filing a claim.
The U.K. Financial Conduct Authority has sealed a deal with Hong Kong’s insurance regulator to improve collaboration and information-sharing on revolutionary financial technology, the watchdog announced on Thursday.
Britain's financial industry on Thursday called on Prime Minister Theresa May to use her speech on Brexit terms in Florence on Friday to clarify what banks and insurers can expect when the U.K. leaves the Europea Union.
The European Union’s top insurance regulator has welcomed a decision that will strengthen its powers to streamline industry supervision, saying the move would help protect consumers across the bloc.
Britain’s competition watchdog launched a major antitrust probe of the investment consultancy industry on Thursday, when it presented investigators and their areas of focus.
Latham & Watkins LLP has bolstered its structured finance, insurance and financial technology practices with the hiring for its London office of a finance partner from Freshfields Bruckhaus Deringer LLP.
U.K. chambers of commerce across Europe accused Brussels of ignoring European businesses’ fears about Brexit and demanded officials refocus on vital areas of trade including financial services, in a new report by the Council of British Chambers of Commerce in Europe.
Squire Patton Boggs continued to demonstrate the dominance of its global platform in recent months, handling cross-border matters involving hundreds of millions of dollars and nabbing high-profile hires such as former Speaker of the House John Boehner to once again land among Law360’s Global 20.
A Lloyd’s of London broker should not be absolved of its obligation to obtain unpaid insurance premiums from a haulage company that went bust because the company had an arrangement with a loan provider, U.K. motor insurer Direct Commercial Ltd. has alleged in court documents.
Blockchain has grown well beyond its cryptocurrency roots, leading proponents to suggest that it can aid in everything from voter registration to supply chain tracking. Companies can prepare for insurability and regulatory issues by recognizing potential risks in advance, say Brian Scarbrough and Justin Steffen of Jenner & Block LLP.
Last month, the U.K. government announced its plan to implement a data protection bill that will avoid disadvantageous divergence with the EU's data protection regime. Companies in the U.K. should take this opportunity to clean up their data protection practices, and may need to look at other protective measures depending on the U.K.'s data protection adequacy, say Sarah Delon-Bouquet and Roman Madej of Bryan Cave LLP.
The range of possible and better fee agreements is wide. But such alternatives will become popular only if litigants confront the psychological tendencies shaping their existing fee arrangements, says J.B. Heaton, a partner at Bartlit Beck Herman Palenchar & Scott LLP.
In Chesterton v. Nurmohamed, a U.K. appeals court recently found that disclosing a breach of a worker's contract may satisfy the public interest requirement for whistleblower protection if a sufficiently large number of other workers are affected. This decision may cause some concern for well-known employers, say Emma Vennesson and Katherine Newman of Faegre Baker Daniels LLP.
As judges become better educated about the complexities of collecting electronically stored information, in particular the inefficacy of keyword searching, they are increasingly skeptical of self-collection. And yet, for many good reasons (and a few bad ones), custodian self-collection is still prevalent in cases of all sizes and in all jurisdictions, says Alex Khoury of Balch & Bingham LLP.
In an age where technology is poised to disrupt the existing landscape, insurers who embrace the changes and turn them into opportunities will thrive in an increasingly competitive marketplace, say Huhnsik Chung and Christina Cerutti of Baker McKenzie.
It’s safe to say that while demand ebbs and flows for legal services, there will never be a shortage of opinions about lateral partner hiring, which is positive for the industry, as anything with such vital importance to careers should attract significant attention. However, there is a unique mythology that travels with the discussions, says Dan Hatch of Major Lindsey & Africa.
With more than a third of lawyers showing signs of problem drinking, and untold others abusing prescription drugs and other substances, it is time for law firms to be more proactive in addressing this issue, says Link Christin, executive director of the Legal Professionals Program at Caron Treatment Centers.
The current trend of rolling back privilege in an investigatory context is a troublesome development for companies, and may lead to a reduction in self-reporting and investigation. Even more concerning are the implications on litigation privilege, meaning that defendants will need to incriminate themselves in order to satisfy the evidential test as to when a prosecution was reasonably anticipated, says Georgina Jones of Taylor Wessing LLP.
David Coale, leader of the appellate practice at Lynn Pinker Cox & Hurst LLP, shares his insights into what works — and what does not — when setting up and maintaining a legal blog.