Finance companies are liable to the ultimate customer on the basis of joint and several liability with the supplier — and this includes in relation to fraudulent misrepresentations. This was the finding of the County Court in Mal’ouf v MBNA Europe Bank Ltd (t/a Abbey Cards). The claimant had been induced to purchase two plots of […]
Wragge & Co first reported on the decision in Clark and another v In Focus Asset Management & Tax Solutions Ltd in January 2013. In essence, the claimants accepted the Financial Ombudsman’s decision arising out of their complaints against their financial advisers. The losses were in excess of £500,000 and the Ombudsman found they were […]
Taylor Wessing’s German managing partner Michael-Florian Ranft is stepping down from the position, just one year into his four-year term. Ranft was elected as head of the firm’s German offices last year (25 March 2013) after the previous German chief, Wolfgang Rehmann, stepped down. While holding the German managing partner role, Ranft continued to lead […]
A breach of the Mortgage Code of Business (MCOB) rules does not affect the underlying right to possession. This was the finding of the High Court in Thakker and another v Northern Rock (Asset Management) plc, in which the lender sought possession of Thakker’s property following an accrual of arrears. Thakker sought to defend (by […]
Wragge & Co last reported on Wuhan Guoyu Logistics Group Co Ltd v Emporiki Bank of Greece SA in April 2013. The dispute related to a shipbuilding contract where the bank guaranteed the payment obligations of its customer, the buyer, to the claimant seller under the contract. There was a dispute as to whether a payment instalment […]
Berwin Leighton Paisner (BLP) has appointed projects and infrastructure head Adam Dann as finance head following the surprise resignation of partner Matthew Kellett last October. The announcement brings to an end a review of the finance team initiated by Kellett’s resignation at the end of last year (30 October 2013). Dann takes the helm on […]
Hogan Lovells has unveiled its 2013 financial results, posting a record global turnover along with double-digit growth in average profit per equity partner (PEP) to $1.2m (£721,000). The firm’s global revenue figure totalled $1.718bn (£1.07bn) last year, a rise of 5.2 per cent from $1.633bn, while PEP rose 10 per cent from $1.097m the previous […]
Squire Sanders has confirmed that it is in early stage merger talks with Patton Boggs, the Washington law and lobbying firm. Squire Sanders is by some distance the larger of the two US firms. It has around 1,300 lawyers and 39 offices around the world and has recently embarked on a hiring spree, particularly in […]
Is it a case of ‘too many cooks’ at Linklaters? There are currently 28 partners on the firm’s two management boards – a figure that insiders complain is excessive. “The number of people involved in the management decisions means that not much management gets done,” says one. It’s a fair point – too many cooks […]
Swedish music rights organisation Svenska Tonsättares Internationella Musikbyrå (STIM) has promoted its general counsel to acting CEO following the resignation of Kenth Muldin. General counsel Helena Woodcock has taken up the role after the current CEO’s departure and her co-worker Emil Discksved has been appointed as acting general counsel. Woodcock joined STIM in 2008 from […]
Manchester-based Garvins specialises in litigation, providing assistance and medical rehabilitation for clients involved in non-fault accidents. Garvins is experiencing an increase in new injury claim cases and has ambitious expansion plans to take advantage of the changing face of the personal injury marketplace Garvins is taking the Proclaim Personal Injury Case Management solution across the entire […]
HowardKennedyFsi (HKFsi) has called off merger talks with Davenport Lyons, making it the second firm to turn its back on the media boutique in less than a month. Davenport Lyons, which has not responded to requests for comment, has been urgently looking for a merger partner. The West End firm approached HKFsi days after its negotiations […]