In Fons HF (in liquidation) v Corporal Ltd & anr [2013] EWHC 1801 (Ch), the High Court ruled that the true construction of the standard definition of shares in a charge document did not extend to rights under a shareholder loan agreement. Such agreements were neither ‘other securities’ nor ‘debentures’ within the definition. This decision […]
International legal recruitment specialist Laurence Simons has appointed Chris Cayley as Managing Director for their EMEA region, working from their London HQ. Chris Cayley will report into both John Rose, Chief Executive of the FiveTen Group and Naveen Tuli, Global Managing Director of Laurence Simons. Chris will focus on the growth of Laurence Simons’ operations […]
In AES Ust-Kamenogorsk Hydropower Plant JSC v AES UstKamenogorsk Hydropower Plant LLP [2013] UKSC 35, the Supreme Court has confirmed the jurisdiction of the English courts to declare that a claim can only properly be brought in arbitration, and grant anti-suit injunctions restraining court proceedings brought in breach of an arbitration agreement, even in the […]
In Joint Stock Company Aeroflot-Russian Airlines v Berezovsky & ors [2013] EWCA Civ 784, the Court of Appeal ruled that the alleged invalidity of a contract governed by Swiss law had no effect on whether the Swiss jurisdiction clause contained in it conformed to the requirements of Article 23 of the 2007 Convention on jurisdiction and […]
In Fairstar Heavy Transport NV v Philip Jeffrey Adkins & anr [2013] EWCA Civ 886, a former chief executive officer (CEO) of a company was ordered to disclose business emails (held on a personal server) to the company. The Court of Appeal rejected the first instance analysis concerning whether the company had a proprietary right in […]
In the matter of Coroin Ltd (sub nom Patrick Gerard Mckillen) v Misland (Cyprus) Investments Ltd & 7 ors [2013] EWCA Civ 781, 3 July 2013, pre-emption provisions in a shareholders’ agreement were not activated when a shareholder transferred control of his shares to a third party without transferring the actual shares themselves. The claimant […]
DLA Piper has advised a syndicate of banks consisting of ABN AMRO Bank NV, Natixis and Société Générale on a $195m prepayment facility for Xinjiang Zhaokun Trading Co Ltd to finance the purchase and production of aluminium and to refinance an existing prepayment facility provided by Zhaokun’s existing offtaker, Gerald Metals SA. The three-year senior […]
A recent decision of the Victorian Supreme Court, in the case of Cityrose Trading Pty Ltd v Booth, highlights the need for suppliers to ensure that all of their transaction documents (including contracts, agreements and deeds) include adequately drafted pricing provisions and GST clauses. The case related to the sale of land in Victoria for […]
As you’re sipping your double espresso this afternoon, spare a thought for Charlie Geffen. The Ashurst senior partner must have been on tenterhooks all night, waiting to receive the good news that partners voted overwhelmingly in favour of the full financial marriage of Ashurst with its Aussie mate, Ashurst Australia (née Blake Dawson). Ashurst’s equity […]
The division of Pannone moved a step closer today after partners showed support for plans to merge the consumer practice with Slater & Gordon. Yes, you read that right, as The Lawyer revealed last week the Manchester firm is about to do the deed with the Aussie giant. Both sides are keeping schtum on this […]
Despite opposition from the Chamber of Commerce, governor Jerry Brown has signed into law a bill raising California’s minimum wage for the first time since 2008. AB 10 amends the California Labor Code, raising the state’s minimum wage in two separate one-dollar increments: from $8.00 per hour to $9.00 per hour, effective 1 July 2014, […]
By Iain Butler More AIM companies are set to become subject to the provisions of the UK Takeover Code at the end of September 2013 as a result of changes published earlier this year. Companies registered in the UK, Channel Islands or Isle of Man whose shares are admitted to trading on a UK-based multilateral […]