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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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Top Stories
  • a branch of a high street bank in the UK
    Linklaters Helps Metro Bank Puts Itself Up For Sale

    By Dawood Fakhir

    The board of Metro Bank said Thursday that it has begun a formal sale process to seek and assess potential offer...(read more)

  • Commercial space interior shot blurred.
    Commercial Lease Reforms Could Ease Pitfalls For Landlords

    By William Janes

    A plan to overhaul decades-old commercial lease and tenancy laws mean generational reforms that would "take away...(read more)

  • Trader Accused Of Hacking Can Appeal Extradition To US

    By Robbie Kalus

    A British trader was given leave on Thursday to appeal against his extradition to the United States, where federal prosecutors want him on hacking charges.

  • FCA Proposes Fee Cap Relief To Expand Pension Investments

    By Joel Poultney

    The Financial Conduct Authority proposed reforms on Thursday that would give pension providers greater freedom to invest in a wider range of assets in its broader bid to improve value for retirement savers.

  • Ex-Kingsley Napley Pro Gets 3-Year Ban For Groping Trainee

    By Sophia Dourou

    A former legal director at Kingsley Napley LLP who groped a trainee while having an "alcoholic blackout" at a Christmas work party before placing her hand on his erect penis was suspended for three years by a tribunal Thursday.

  • UK Ready For The Main Stage With Design Reform Plan

    By Alex Baldwin

    The government's proposed overhaul of its design framework could make the country a significantly more attractive jurisdiction for technology-driven companies seeking to protect their intellectual property, lawyers say.

  • UK Human Rights Plans Could Bolster Claims With Paper Trail

    By Joanne Faulkner

    Plans by the government to force large companies to tackle human rights abuses in their operations and supply chains could expose businesses to more litigation by creating a paper trail of what they knew and how they responded, lawyers say.

  • Getty Says AI Training Abroad Breached Copyright

    By Sophia Dourou

    Getty Images told the Court of Appeal on Wednesday that Stability AI Ltd. infringed its copyright by training its artificial intelligence model on its protected works, in a case with potentially far-reaching consequences for generative models.

  • Treasury Denies Pre-Budget Bank Tax Leak As Probe Opened

    By Tom Fish

    HM Treasury officials denied on Wednesday that they had briefed lenders or their representatives about changes to the bank corporation tax surcharge before the chancellor delivered his Budget statement in October.

  • Taylor Wessing, Stephenson Harwood End Merger Talks

    By Marialuisa Taddia

    Stephenson Harwood and Taylor Wessing said Wednesday that they have agreed not to pursue a potential merger following initial discussions.

  • Reuters Sues Ex-Directors For $35M Over 'Inflated' Ad Sales

    By Joel Poultney

    Thomson Reuters has sued the former directors of an insurance news organization for $34.5 million, claiming that the publisher of "The Insurer" inflated advertising sales before the media giant bought the outlet in 2024.

  • AI Creates Heightened Risk Of Market Abuse In Banks

    By Alex Davidson

    Recent findings by the Financial Conduct Authority of weak oversight of artificial intelligence by wholesale banks expose how failings generated by AI tools could develop into risks of market abuse, lawyers and experts warned.

  • EasyJet Shareholders Back £5.7B Apollo Takeover

    By Najiyya Budaly

    Shareholders in U.K. budget airline easyJet approved a takeover by asset manager Apollo worth approximately £5.7 billion ($7.6 billion) on Wednesday, despite opposition from employee groups.

  • Care Workers Fired For Refusing COVID Vax Say UK Is Liable

    By Adele Redmond

    More than 100 care home workers argued to the Court of Appeal on Tuesday that the U.K. government is liable for discrimination after their employers fired them for refusing the COVID-19 vaccine. 

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Trending on Law360 UK

  • Lies And Forged Records Undid Kuwait Pension Defenses
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  • LetterOne Says UK Must Compensate It For Forced Sale
  • Kingspan Faces 4th Investor Claim After Grenfell Inquiry
  • NFU Mutual Says £10M COVID Losses Fall Outside Cover
  • AI Creates Heightened Risk Of Market Abuse In Banks
  • EasyJet Shareholders Back £5.7B Apollo Takeover
  • Weil Partners Vote To Dissolve Firm
  • Accenture Defends Dismissal In Endometriosis Appeal
 
 
 

From The Courtroom

  • Developer Says Accor Derailed Glasgow Hotel In £180M Trial
  • Car Lessor Was 'X-Factor,' Not Ponzi Scheme, Director Says
  • Ex-Nationwide Worker Appeals For Firing To Be Ruled Biased
  • Amersi Denies Uzbek Corruption At BBC Libel Trial
  • NFU Mutual Says £10M COVID Losses Fall Outside Cover
  • Accenture Defends Dismissal In Endometriosis Appeal
  • Developer Fights £380K Bill For Scrapped Carbon Scheme
  • Bolt Drivers Say Waiting-Time Rule Would Cut Wage Payouts
  • ERISA Recap: 4 Decisions To Know From Oct.
  • Windhorst Says Broker Can 'Take The Keys' Over €27M Debt
 
 
 

Expert Analysis

  • Garon Anthony
    Financial Firm Ruling Narrows Push Fraud Recovery Route
    The recent Court of Appeal decision in Moorwand v. Hamblin rejected a derivative claim brought by victims of an authorized push paym... (read more)
  • Eloise Ryan
    'Peppa Pig' Ruling Broadens Global Copyright Relief
    The High Court's recent unusual decision in Hasbro v. Công to grant a panjurisdictional injunction shows that, in certain circumstan... (read more)
  • Daniel Erskine
    How AI Can Complicate Liability Limits In Contracts
    With the U.K. Jurisdiction Taskforce's recent legal statement on liability for harms confirming that contract clauses remain subject... (read more)
  • Rachael Healey
    Key Points From High Court Ruling On FOS Time Bar Rule
    In Barclays Bank v. Financial Ombudsman Service, the High Court recently blocked the FOS from investigating consumer complaints that... (read more)
  • Ricci Potts
    UK Top Court Eases Creditors' Path To Enforcing Foreign Debt
    The recent U.K. Supreme Court ruling in Drelle v. Servis-Terminal that an unrecognized and unregistrable foreign judgment may found ... (read more)
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