Standard Gas £1M Claim Survives Obscure Loan Rule Test

By Laura Stewart Liberty

A climate technology company has defeated a shareholder's attempt to dismiss its £1 million ($1.3 million) claim after the High Court found that a 19th century legal rule governing unpaid loan disputes remains an "undeveloped area of law."

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Baltic Says Mercuria's Hormuz Claim Masks Trading Mistakes

By Joanne Faulkner

Baltic Exchange accused Mercuria in closing arguments at the High Court on Thursday of trying to escape the consequences of a failed trading strategy by challenging a freight benchmark that it says was reliable despite disruption in the Strait of Hormuz.

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Addleshaw Eyes Scotland Group Action Over McClure Trusts

By Ashish Sareen

Addleshaw Goddard said Thursday it is preparing a group action in Scotland over allegations that collapsed law firm McClure negligently advised clients that family protection trusts would shield their assets from inheritance tax and care home fees.

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EU High Court Adviser Backs Bulk Of €1.5B Google Fine

By Bryan Koenig

A European Court of Justice advocate general said Thursday that the European Union's top court should upend a lower court decision scrapping a €1.49 billion fine imposed over Google's past restrictions against rival search engines on third-party websites using its advertising tools.

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Forex Broker Can't Void Trades Without Paying Market Value

By Eddie Beaver

A foreign exchange broker must pay a Swiss financial services provider more than $3 million after a judge ruled that concerns about unauthorized speculative trading did not entitle the broker to cancel currency contracts without paying their market value.

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UK Lender Alleges Ex-Director Hid Assets From Creditors

By Tom Fish

A lender has sued a former property company director for £3.2 million ($4.2 million), alleging that he concealed assets when settling his liability, including by transferring land to his ex-wife to keep it beyond the lender's reach.

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Brief

Litasco Sues Energy Trading Co. For $22M Over Diesel Debt

By Isabel Jackson

Litasco has sued fellow Swiss energy trader Varo Energy for $22 million, alleging that the company failed to pay for deliveries of ultra-low sulfur diesel.

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Accor Says Glasgow Hotel Had No Prospect Of Being Built

By Ronan Barnard

French hospitality multinational Accor argued at a London trial Thursday that it was entitled to walk away from a development deal for a prospective Scottish hotel, saying the developer had no real prospect of getting the hotel built.

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Townhouse's Design Fails To Lower £11M Tax Valuation

By Josh White

A corporate owner of a Belgravia townhouse lost its bid to slash the £11 million ($14.5 million) valuation for property tax purposes when a London tribunal ruled against its assessment.

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Trethowans Beats Negligence Claim Over 18-Month Delay

By Hanna Vioque

A London judge has refused to revive a professional negligence claim against Trethowans LLP, ruling that a client's request for an 18-month extension to file expert medical evidence about eye surgeries he claimed were negligent was "unrealistic." 

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What Project Managers Can Learn From Negligence Award

The High Court’s recent enforcement of an £8.7 million adjudication award against Avison Young demonstrates for project managers that certification, progress assessment and defect management are exercises requiring independent scrutiny and documented decision-making, say lawyers at Eversheds Sutherland.

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Decoding Arbitral Disputes: Award Ownership Has Limits

In Operafund v. Spain, the Court of Appeal of England and Wales recently barred a purchaser from replacing the original creditors in enforcement proceedings for an international arbitration award against Spain, underscoring the distinction between acquiring an award’s economic value and the legal entitlement to enforce it, says Josep Galvez at 4-5 Gray’s Inn Square.

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