Top Stories

• 

  SRA Finds Suspected Fraud In PM Law's £40M Shortfall

  By Marialuisa Taddia

  The Solicitors Regulation Authority said Tuesday that it has uncovered a "sophisticated suspected fraud" at PM L...(read more)

• 

  ENRC's $290M Claim Defies Decades Of Precedent, SFO Says

  By Christopher Crosby

  The Serious Fraud Office and Dechert argued at trial on Tuesday that the $290 million claim brought by ENRC over...(read more)

• EU Adopts Anti-Corruption Law With 5% Turnover Fines

  By Alex Davidson

  The European Union gave the final go-ahead Tuesday to a new directive on combating corruption, with fines of up to 5% of world turnover or €40 million ($47 million), adding a potential aggravating factor if offenders are banks or law firms.

• SRA Fights Axiom Ince's £65M Fraud Oversight Claim

  By Hanna Vioque

  The Solicitors Regulation Authority hit back at claims from the now-defunct Axiom Ince that it was negligent in failing to spot the firm's leaders' alleged misappropriation of £65 million ($87.7 million) in client money early on.

• Greece Defends Crisis-Era €62B Bond Call At Trial

  By Sophia Dourou

  Greece urged a London court on Tuesday to confirm the validity of its buyback of GDP-linked bonds first issued for €62.4 billion ($73 billion) in 2012 during the country's debt crisis, on the first day of a trial against the bonds' trustee.

• Law Commission Mulls New Consumer Class Action Regime

  By William Janes

  The Law Commission has said that it is considering the introduction of a new class action regime for consumer law claims that could replicate the collective proceedings system at the Competition Appeal Tribunal.

• A&O Shearman-Led Food Biz Confirms £10B Primark Spin-Off

  By Tom Fish

  Associated British Foods PLC said Tuesday that it will proceed with a long-expected plan to spin off its fast-fashion chain Primark from its food businesses, creating a separate non-food company to list on the London Stock Exchange.

• Ex-Foreign Office Chief Hints At Legal Action Over Sacking

  By Adele Redmond

  Olly Robbins hinted on Tuesday that he is considering taking legal action over his dismissal from the top civil role at the Foreign Office for his alleged mishandling of the vetting of Peter Mandelson to be U.S. ambassador.

• Glencore Ruling Broadens Scope For Challenge Over Privilege

  By Joanne Faulkner

  A recent court ruling that expands legal advice privilege to cover some internal corporate communications gives companies greater scope for withholding sensitive material but is likely to prompt challenges over whether those documents meet the test for protection, lawyers say.

• Irish Co. Defeats £18M Tax Appeal Over Lehman Bros. Debt

  By Josh White

  HM Revenue & Customs can't retain over £18 million ($24.3 million) in a withholding tax claimed by an Irish company on debt interest from collapsed bank Lehman Brothers, a London court ruled Monday.

• Housing Group Can't Ax Union Case Over Blog Post Pay Offer

  By Hanna Vioque

  A housing provider has lost its bid to strike out claims from unionized staffers over a blog post from its CEO offering a pay raise to nonunion members, after failing to convince an employment tribunal that the post might have broken the law during ongoing pay negotiations.

• Reform UK Deputy Says His Co. May Have Made Tax Errors

  By Josh White

  Reform UK deputy Richard Tice said "some errors" are inevitable when running multiple businesses following a report that his investment company failed to pay almost £100,000 ($135,000) in corporate tax, adding that he would pay up if it is found he owes more taxes.

• Abbott Wins Glucose Monitor Sales Ban On Appeal At UPC

  By Jamie Lennox

  Abbott has persuaded appellate judges at the Unified Patent Court to stop Sinocare selling certain glucose monitoring displays in Europe, proving that its Chinese rival's devices are likely to have infringed its patent.

• Ex-OPEC Head Denies 'Willy-Nilly' Shopping In Corruption Trial

  By Ronan Barnard

  A former Nigerian oil minister standing trial for allegedly accepting bribes from energy executives denied before jurors in London on Monday that she "was cavorting with friends willy-nilly" on shopping trips.