Greensill Capital coordinated with SoftBank to enter into "improper" transactions which caused Credit Suisse investors to lose $440 million in debt, a lawyer for a sub-fund for the collapsed Swiss bank told the first day of trial Thursday.
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Credit Suisse Says Greensill Deals Left $440M Debt Unpaid

By Sophia Dourou

Greensill Capital coordinated with SoftBank to enter into "improper" transactions which caused Credit Suisse investors to lose $440 million in debt, a lawyer for a sub-fund for the collapsed Swiss bank told the first day of trial Thursday.

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BHP Tries To Block Criminal Contempt Bid In £36B Dam Case

By Ronan Barnard

BHP urged a London judge on Thursday to throw out contempt proceedings that it has called "extraordinary" in a £36 billion ($50 billion) case over Brazil's worst environmental disaster, arguing that it would relitigate issues that had already been resolved.

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JPMorgan Blocks VTB's Russian Case Over Frozen $156M

By William Janes

JPMorgan won its fight on Thursday to block VTB Bank from bringing a $156 million case in Russia over frozen funds, as a London court ruled that the Russian lender's claims were "vexatious and oppressive."

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Trading Biz Can't Short Circuit Trial Against Former GC

By Jamie Lennox

A London judge said Thursday that a trading services company must go to trial to prove that its former general counsel misused confidential information, citing a possibility that the business abused the lawyer-client relationship.

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COMPETITION

Antitrust Silk To Helm Tribunal's New Pro Bono Scheme

By Jamie Lennox

A Brick Court Chambers antitrust silk will help to run the Competition Appeal Tribunal's new pro bono scheme, offering free legal help to litigants in person, legal charity Advocate said Thursday.

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CONTRACTS

Liverpool Defends Rejection Of Lime's Bid For E-Bike Contract

By Eddie Beaver

Liverpool City Council has denied failing to give the Lime hire bike operator a fair chance to compete for a contract to provide electric scooters and bikes in the local authority's area, adding that it had lawfully considered submissions by winning bidder Bolt.

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PERSONAL INJURY

TUI Denies Liability For Holidaymakers' Cape Verde Sickness

By William Janes

Package holiday company TUI has denied responsibility for illnesses contracted by more than 100 vacationers at a hotel in Cape Verde, telling a London court that the travelers might have become ill from going outside the resort.

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INSURANCE

Brief

UK Insurers Abusing Dishonesty Defense, Legal Body Warns

By Martin Croucher

Insurers are using allegations of fraud in a "scattergun" approach in defending against personal injury claims, a legal trade body warned Thursday.

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COMMERCIAL FRAUD

Oligarch Can't Appeal Tossed $14B Asset-Stripping Claim

By Eddie Beaver

Imprisoned oligarch Ziyavudin Magomedov cannot challenge a decision to dismiss his $14 billion claim against Transneft, Rostatom, a private equity firm and other entities over an alleged Russian state-led conspiracy to strip his assets in two major port operators, a London appeals court has ordered.

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INTELLECTUAL PROPERTY

Bayer Contests Generics' Loss Claims In Xarelto Patent Fight

By Jamie Lennox

Bayer has accused several generic-drug makers of overstating the profits they lost when a judge in London told them to stop selling their own versions of blood thinner Xarelto to avoid infringing a patent that the courts later invalidated.

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EMPLOYMENT & BENEFITS

Brief

Axiom Staffer Wins Claim Over Dismissals Amid Firm Collapse

By William Janes

A former employee of Axiom Ince Ltd. has won a tribunal claim over the collapsed firm's failure to carry out a redundancy consultation before mass dismissals, with a judge granting her an unspecified monetary award.

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Wetherspoons Harassed Manager Off Sick For Mental Health

By Lucia Osborne-Crowley

A Wetherspoons manager won his discrimination and harassment claims against the pub Thursday, with an employment tribunal ruling that he was subject to punishment at work due to his mental health conditions.

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Former Exec Must Pay £450K From Pension To Settle Debt

By Hanna Vioque

A London judge has ruled a company can access the pension fund of a fired managing director to cover £450,000 ($612,000) he was supposed to pay to settle claims that he poached clients.

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EXPERT ANALYSIS

German Ruling Further Restrains Intra-EU Bilateral Arbitration

The German Federal Court of Justice recently issued a notable ruling that pushes the invalidation of intra-European Union bilateral investment treaty arbitration into the realm of stand-alone cost decisions, strengthening the EU's legal framework while increasing uncertainty for investors in the region, say attorneys at Linklaters.

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LAW FIRMS IN TODAY'S NEWS

11 South Square

11KBW

4 New Square

A&O Shearman

Blackstone Chambers

Brick Court Chambers

Bristows LLP

Charles Russell Speechlys

Curtis Mallet-Prevost

Essex Court Chambers

Freshfields

Humphries Kerstetter

Irwin Mitchell

Kennedys Law LLP

Linklaters LLP

Mishcon de Reya

One Essex Court

Outer Temple Chambers

PCB Byrne

Penningtons Manches

Pinsent Masons

Pogust Goodhead

Quinn Emanuel

Seladore Legal

Simon Paschal

Slaughter and May

Three New Square

COMPANIES IN TODAY'S NEWS

Association of British Insurers

BHP Group PLC

Bayer AG

Credit Suisse Group AG

Dr. Reddy's Laboratories Ltd.

Greensill Capital

JPMorgan Chase & Co.

Katerra Inc.

London Court of International Arbitration

PACCAR Inc.

Sandoz International GmbH

SoftBank Group Corp.

Solicitors Regulation Authority Ltd.

State Atomic Energy Corp. Rosatom

TUI AG

Teva Pharmaceutical Industries Ltd.

UBS Group AG

United Nations Commission on International Trade Law

VTB Bank

Vale SA

GOVERNMENT AGENCIES IN TODAY'S NEWS

Competition Appeal Tribunal

European Commission

European Union

UK Court of Appeal

UK High Court