UK's Lugano Exit Could Leave Consumers Facing Headwinds
Britain's courts won't hurt for commercial cases if the U.K. is barred from rejoining an international pact settling jurisdiction disputes, but consumers could be left out in the cold if businesses seek home turf advantage in their legal battles, attorneys say.
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A London appeals court on Friday sided with DPP Law Ltd. in its bid to escape a unfair dismissal challenge brought by a former partner sacked after being accused of "topping up" legal aid fees by accepting extra cash from a client's father.
The administrators of collapsed finance firm Greensill Capital said they have recovered only £3.7 billion ($5.1 billion) of the company's last-reported assets of £17.7 billion since the supply chain financing firm entered into insolvency proceedings in March.
Senior officials at Qatar's central bank and sovereign wealth fund must disclose documents recording the Persian Gulf state's decision to pump billions of dollars into its economy in response to an alleged conspiracy to manipulate its currency and bond markets, a High Court judge said Friday.
An appeals court on Friday rejected Royal Mail's challenge against a £50 million ($69.5 million) fine for proposing price changes that could have squeezed out competitors, agreeing that the postal carrier abused its dominant position in the market.
Britain's investment funds have pushed back against proposals to introduce mandatory notice periods for withdrawing from open-ended funds in an attempt to avoid liquidity problems, the finance regulator said on Friday.
Britain's financial watchdog floated plans on Friday to launch a new category of fund designed to provide safeguards for consumers looking for long-term investments in assets that are harder to sell.
A Cayman Islands hedge fund is seeking to subpoena a Crowell & Moring partner as it looks to take the lion's share of a nearly $29 million arbitral award won by a company that Pakistan had hired to find and recover state assets stolen by corrupt government officials.
British policymakers should take steps to make London stock listing rules more attractive to technology companies looking to go public, the financial sector's governing body said Friday.
The owner of soccer club Newcastle United filed an antitrust claim against the Premier League, accusing the operator of the top tier soccer league of curbing competition between teams by scuttling its planned £340 million ($472 million) sale involving Saudi Arabia's sovereign wealth fund.
Denmark's tax agency won permission Thursday to appeal a London decision dismissing its £1.5 billion ($2.1 billion) lawsuit against more than 100 financial institutions over an alleged cum-ex dividend tax fraud on the grounds it is an inadmissible foreign revenue claim.