What is the scope of banks’ duties to customers in executing their customers’ instructions? In particular, what are banks’ duties if the instruction is the instrument of fraud? Earlier this month, the Court of Appeal...more
For many UK businesses with business interruption (“BI”) insurance policies, a high priority this autumn was keeping up with a rapidly changing regime of coronavirus-related restrictions – changes which last week culminated...more
What is the reflective loss principle?
• The English law principle of reflective loss traditionally held that when a company suffered loss as a consequence of the actions of a third party, the loss suffered by its...more
On 17 March 2020, in announcing an “unprecedented” range of measures designed to support businesses through the COVID-19 pandemic, the UK Chancellor of the Exchequer, Rishi Sunak, said that “for those businesses which do have...more
On 11 March 2020, the Bank of England (the “Bank”) warned of “an economic shock that could prove sharp and large” resulting from the coronavirus outbreak that started in Wuhan, China, at the end of 2019. Presenting a package...more
3/18/2020
/ Bank of England ,
Borrowers ,
China ,
Contract Terms ,
Coronavirus/COVID-19 ,
Crisis Management ,
Debt ,
Default ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Force Majeure Clause ,
Infectious Diseases ,
Lenders ,
Negotiations ,
Prudential Regulation Authority (PRA) ,
Public Health ,
UK
On 10 January 2020 the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (the “2019 Regulations”) came into force in the UK, implementing the EU’s fifth Money Laundering Directive (“MLD5”) and amending the...more