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Helen Pugh discusses knowing receipt and the proprietary base

Read Helen Pugh’s article on knowing receipt and a recent related High Court decision in Butterworths Journal of International Banking and Financial Law. Helen Pugh was recently published in the May edition of Butterworths Journal of International Banking and Financial Law where she analysed a recent High Court decision in a knowing receipt claim against a Saudi Arabian bank; Byers and Ors v Samba Financial Group [2021] EWHC 230 (Ch). It considered the vexed issue of whether a beneficiary must have a continuing equitable interest enduring upon receipt of the property by the recipient to establish a knowing receipt claim. In a detailed and well-reasoned judgment Mr Justice Fancourt answered that question in the affirmative. Knowing receipt Knowing receipt is…

Banking, Legal Blog & Publications, Insolvency and Restructuring 24 May, 2021

Covid-19 adds further pressure to address LIBOR transition litigation risk

Outer Temple Chambers’ Justina Stewart and Signature’s Johnny Shearman’s article on pressure on market participants to address litigation risk bedevilling LIBOR transition has been published in the FT’s Global Risk Regulator. Covid-19 has caused a dramatically increased need for credit, as well as significant uncertainty about the value of a huge range of assets.  LIBOR is the world’s most widely used interest rate benchmark.   Market behaviour, in light of Covid-19, has only served to confirm the lack of LIBOR’s representativeness.  Therefore, the FCA and the Bank of England have not changed their core message ­– firms cannot rely on LIBOR being published after the end of 2021. However, as matters stand, it remains for the market to effect the transition.…

Banking during Covid-19, Banking, Covid-19, Legal Blog & Publications 8 Jun, 2020

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