News & Events

Commercial

The Reciprocal Enforcement of Civil Judgments between the UAE and India

David Russell QC has co-authored a feature in the MENA Business Law Review, looking at the Agreement between the UAE and India on Juridicial and Judicial Cooperation in Civil and Commercial Matters. The Agreement between the United Arab Emirates and India on Juridicial and Judicial Cooperation in Civil and Commercial Matters (the “Treaty”) was signed in 1999 and ratified in 2000. In January 2020, the Government of India notified the UAE as a “reciprocating territory” for the purposes of recognising UAE civil judgments in India without a re-examination of the merits of the underlying dispute. The Treaty is a reflection of the close cultural and economic ties between the two countries. The mutual recognition of civil judgments between a civil…

Legal Blog & Publications, Commercial, International 11 Apr, 2022

Five years of cases before the ADGM Courts

2021 saw the fifth anniversary of the first disputes registered before the Courts of the Abu Dhabi Global Market. Peter Smith takes this opportunity to consider the cases that the ADGM Courts have heard. The Courts publish a searchable list of claims before them. The first claims were registered at the Courts in 2017, and the numbers of cases show a swift increase over the intervening five years from seven claims in 2017, 13 in 2018, eight in 2019, 53 in 2020 and to well over 100 in 2021. An early indication is that the Courts are highly likely to surpass the 2021 total in 2022. Many, if not most, of the cases registered before the Courts relate to claims…

Arbitration, Legal Blog & Publications, Commercial 11 Apr, 2022

Cyber-Fraud, Third Party Fraudsters, and the Expansion of the Quincecare Duty

Stephen Doherty explores some recent cases involving “Quincecare Duty”, which has existed for over thirty years, and what these new precedents mean for modern banking fraud cases. “Quincecare Duty” was established in Barclays Bank plc v Quincecare Ltd [1992] 4 All ER 363, and tells us that a bank or financial institution may be liable for processing a fraudulent transaction if the bank has reasonable grounds for believing that there has been an attempt to defraud its customer. Remarkably, it was not until the Supreme Court handed down judgment in 2019, in Singularis Holdings Ltd (In Official Liquidation) (A Company Incorporated in the Cayman Islands) v Daiwa Capital Markets Europe Ltd [2019] UKSC 50, that a claimant had successfully argued…

Business Crime, Legal Blog & Publications, Commercial, Financial Services 8 Apr, 2022

Supreme Court

Brownlie II and pure economic loss – what next for jurisdiction in commercial cases?

The case of Brownlie II highlighted a number of jurisdiction questions. Joshua Cainer acted as a Junior on the case and takes a look at the implications of the decision on commercial law. Joshua Cainer considers some of the outstanding questions about jurisdiction in commercial cases relying on claims in tort following the Supreme Court’s decision in FS Cairo (Nile Plaza) LLC v Lady Brownlie [2021] UKSC 45, [2021] 3 WLR 1011 (‘Brownlie II’). Whilst that case concerned a claim for personal injury, it is likely to have effects on cases involving questions of private international law in a far broader range of practice areas, particularly commercial law. This is a case brought by Lady Christine Brownlie, both in her…

Legal Blog & Publications, Commercial 8 Apr, 2022

Cross Border Insolvencies Within One Nation: The UAE Experience

In one of the first expositions by the DIFC Court of the effect of Schedule 4 of the DIFC Insolvency Law, the case confirmed that the UNCITRAL Model Law applies in the DIFC only in relation to corporate insolvency. David Russell QC and David Holloway appeared as counsel. This case has generated great interest and was recently included as a Case Focus in Lexis Middle East Law Alert March/April 2022. David Russell QC and David Holloway appeared as counsel and have also written a more detailed Case Comment, first published in the MENA Business Law Review 2022 First Quarter. What happened? An application was made by Trustees who had been appointed by the Abu Dhabi Court in some insolvency proceedings.…

Legal Blog & Publications, Commercial, Insolvency and Restructuring 8 Apr, 2022

Cryptocurrency

Cryptoasset Update – April 2022

There have been a number of recent cases concerning cryptoassets, many of which will have an impact on the legal landscape going forward. Chloë Bell provides an update on cases and developments. The attached article, Cryptoassets Update, provides an update on cryptoasset cases and industry developments in recent months. It also includes an update on member activity in this specialist area of law. Case Updates In this article, the following cases are summarised: Wang v Darby [2021] EWHC 3054 (Comm) 17 November 2021Sally Jayne Danisz v Persons Unknown and others [2022] EWHC 280 (QB) 5 January 2022Mr Dollar Bill v Maxim Vasilvsky, Huobi and others (unreported) 14 January 2022Tulip Trading Limited v Bitcoin Association for BSV and Others [2022] EWHC…

Legal Blog & Publications, Commercial, Commercial, News 8 Apr, 2022

How arbitration can navigate risk involved in infrastructure projects in the Asia-Pacific

Anthony Lo Surdo discusses the boom in infrastructure projects in the Asia-Pacific and how arbitration helps to navigate the risk involved with national infrastructure projects. Parts of the Asia-Pacific are in the grip of a boom in infrastructure projects driven, in some cases, by China’s “Belt and Road” initiative and otherwise by historically low global interest rates which has enabled sovereign states either alone or in partnership with private enterprise to fund projects that were hitherto merely a pipedream. In Australia alone, the 12 largest infrastructure projects total in excess of $A80 billion and include the Westconnex road project (NSW, $A16 billion), the Sydney Metro (NSW, $A12 billion), the Western Sydney Airport (NSW, $A5.3 billion), the Melbourne Metro Tunnel ($A11…

Arbitration, Legal Blog & Publications, Commercial, News 2 Dec, 2021

David Holloway wins landmark DIFC State Immunity Case

David Holloway recently represented Fal Oil Company and successfully achieved the enforcement of a judgment for over US$300 million plus significant interest against the Sharjah Electricity and Water Authority (SEWA). The underlying litigation had a complex and long history, involving appeals to the UAE Supreme Court and the intervention of a royal commission. Fal Oil had been unsuccessful in attempts to execute the judgment in Sharjah over a number of years. Enforcement proceedings in the DIFC Courts were contested by SEWA, who opposed the enforceability of the judgment on grounds of State Immunity and Public Policy. The judgment of the DIFC Court in Fal Oil Company  v SEWA sheds considerable light on the question of State Immunity as understood in the DIFC and the…

Commercial, News, International 4 Aug, 2021

James Counsell QC and Stephen Doherty successful before DIFC Court of Appeal in Lakhan v Lamia [2021] CA 001

James Counsell QC and Stephen Doherty, instructed by Leonora Riesenburg at INTADR, have been successful before the DIFC Court of Appeal in its recent judgment in Lakhan v Lamia [2021] CA 001.   The DIFC Court of Appeal has dealt a blow to recalcitrant parties seeking to invoke the jurisdiction of the Joint Judicial Committee (“JJC”) in an attempt to obstruct proceedings before the DIFC Courts. In Lakhan, the Court of Appeal has revised its historical practice of automatically staying proceedings upon petitions being made to the JJC, by confirming that, in order for any stay to take effect, there must first be a positively determined “conflict of jurisdiction”, and the mere existence of two sets of proceedings before the DIFC Courts and the onshore…

Commercial, News, International 15 Jul, 2021

Anthony Lo Surdo SC named a leading mediator in NSW by Doyles Guide 2021

We are pleased to announce that Anthony Lo Surdo SC has been named in Doyles Guide to the Legal Profession as a leading mediator in NSW, 2021. Anthony has been recognised for his expertise using online peer-review based surveys as well as extensive telephone and face to face interviews with clients, peers and relevant industry bodies. This category was introduced in 2017 and Anthony has been ranked every year since. Doyles Guide Doyles Guide is an awards recognition program for law firms and lawyers across Australia. Awards are attributed as “Australia wide” or for specific states and are also awarded relative to practice area or speciality. Doyles Guide rank their leading mediators across a range of mediation disciplines including general commercial…

Commercial, News, International 7 Jul, 2021

A Tale of Two Duties – Approaching SAAMCO and the Scope of Duty Principle after Manchester Building Society v Grant Thornton UK LLP and Khan v Meadows

Joshua Cainer compares Manchester Building Society v Grant Thornton UK LLP and Hughes-Holland v BPE Solicitors and considers the state of the law in this area going forward, as well as the key conceptual and practical differences that are likely to generate debate in future cases. The concept of ‘scope of duty’ in the tort of negligence, especially its application following Lord Hoffmann’s judgment in SAAMCO, has generated both controversy and confusion over recent years. Many had thought that Lord Sumption’s judgment in Hughes-Holland v BPE Solicitors was to be the definitive statement on the topic. However, the starting point in this area now lies in two very recent Supreme Court decisions in two different factual contexts: Manchester Building Society v Grant Thornton UK LLP [2021] UKSC 20 in the…

Legal Blog & Publications, Commercial 24 Jun, 2021

Quincecare and Dishonest Assistance: An Ongoing Retreat in Claims Against Banks?

Helen Pugh examines the Stanford International Bank Ltd Ponzi scheme as one of the latest examples of multi-jurisdictional fraud and the judgment for the claims brought by the liquidators of the Bank in an attempt to increase recoveries on behalf of the creditors. Massive multi-jurisdictional fraud and the almost inevitable colossal insolvencies which follow have provided fertile ground for testing the scope of banker’s duties and liabilities in recent decades. Robert Allen Stanford’s eye-watering Ponzi scheme has been part of this trend. On 15 April 2009 the Antiguan-incorporated Stanford International Bank Limited (“the Bank”) collapsed into insolvent liquidation bringing to an end one of the largest and most prolonged Ponzi schemes in history. For the depositors who lost their retirement income…

Legal Blog & Publications, Commercial, News 24 Jun, 2021

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