News & Events

Commercial

Andrew Spink QC discusses Cryptoassets at FSLA & Taylor Wessing Webinar

Andrew Spink QC will join a panel discussion on recent developments and future trends in the regulation of cryptoassets. The webinar will be held on Thursday 7th October from 5.45pm to 7pm and is open to all FSLA members.The panel event will chaired by Charlotte Hill, head of Taylor Wessing’s UK Financial Services Regulatory group and will feature the following speakers: Andrew Spink QC, Outer Temple ChambersKatie Fry-Paul, Associate at Taylor Wessing LLPRichard Fox, Head of Markets Policy at the Financial Conduct AuthorityJannah Patchay, Director and Founder of Markets Evolution.  The 1 hour webinar will focus on the latest developments, future trends and areas of concern in the fast evolving and increasingly important field of crypto-regulation. The webinar will be of interest…

Commercial, News 7 Oct, 2021

Teresa Rosen Peacocke and Alex Haines on dual qualification and the New York Bar

Teresa Rosen Peacocke and Alex Haines have authored an article in the September issue of Counsel Magazine on the advantages of dual qualification and a guide to qualifying for the New York Bar. Teresa explores the benefits of becoming an attorney in the United States, particularly in New York State, where most cross-border legal business is conducted. Teresa qualified as an attorney in New York 20 years after her call to the Bar of England and Wales after completing an LLM at New York University School of Law. Teresa explains that dual qualification enables the practitioner to understand and appreciate different approaches to resolving legal issues and, in turn, to become more flexible in providing legal services. It also enhances your…

Commercial, News 8 Sep, 2021

Cryptoassets and the Financial Conduct Authority’s perimeter

Bianca Venkata examines the Financial Conduct Authority perimeter and cryptoassets in the context of the FCA Handbook and The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“MLRs”). In her article, Bianca also considers the Financial Conduct Authority’s approach to territoriality, the application of the FSMA Financial Promotions Order (SI 2005/1529) and the regulatory approach taken by the United States. There have been calls for there to be more regulation of cryptoassets due to their price volatility and soaring popularity. For instance, Bitcoin in April 2011 was valued at £0.71 (USD$ 1) but on 26 May 2021 at £27,352 (USD$ 38,694.14). There is also a risk that criminals and terrorists may exploit cryptoassets. However, it…

Legal Blog & Publications, Commercial, News 22 Jun, 2021

Judgment in franchise dispute; Dwyer (UK) Franchising Ltd v Fredbar Ltd & Bartlett

Judgment was handed down last week in the case of Dwyer (UK) Franchising Ltd v Fredbar Ltd & Bartlett [2021] EWHC 1218 (Ch). David E. Grant acted for the Defendants in this expedited trial on liability and injunctive relief between a franchisor and ex-franchisee. Judgment was handed down in this franchise dispute on 11 May 2021. The First Defendant was a franchisee of the “Drain Doctor” brand licensed by the Claimant, Dwyer (UK Franchising) Ltd, which claimed to be the UK’s largest full-service network of emergency plumbing and drainage operations and part of the world’s largest home service franchise. The case raised issues of misrepresentation, undue influence, repudiatory breach, affirmation and the reasonableness of the post-termination restrictive covenants. The Defendants…

Covid-19, Commercial during Covid-19, Commercial, News 18 May, 2021

David Holloway reappointed to the China International Economic and Trade Arbitration Commission Panel of Arbitrators

We are delighted to announce that David Holloway has been reappointed as an arbitrator to the China International Economic and Trade Arbitration Commission Panel of Arbitrators. David’s reappointment is effective 1 May 2021. The China International Economic and Trade Arbitration Commission (CIETAC) was established in April 1956 under the China Council for the Promotion of International Trade. Since 2000, it has also been known as the Arbitration Court of the China Chamber of International Commerce. CIETAC is based in Beijing and has a number of sub-commissions throughout China, including in Shanghai, Shenzhen and Tianjin, as well as a Hong Kong Arbitration Center, which was set up in 2012. CIETAC and its sub-commissions/arbitration centers constitute a single arbitration institution. CIETAC maintains…

Commercial, News, International 6 May, 2021

Sam Carter joins Outer Temple Chambers’ Business Team

Outer Temple Chambers is delighted to welcome Practice Director Sam Carter to our business team. Sam Carter joins the practice management team today, with responsibility for our commercial and international teams. With a wealth of experience in international ADR, he will be taking a particular interest in driving forward our thriving international arbitration team. Sam has been clerking for over 15 years, and previously worked with the business team at Outer Temple so already knows the team well. He has spent the last few years in senior clerking roles and was most recently Managing Director of an international arbitration set, focusing on alternative dispute resolution on a global scale. He has worked with clients throughout London and Europe, US and…

Commercial, News, International 4 May, 2021

Members of Outer Temple ranked in Legal 500 EMEA

Following the release of The Legal 500 EMEA 2021 results, Outer Temple is proud to announce that several of our members have been ranked in the Middle East Guide for commercial law. Outer Temple has also been recognised as a Recommended Set of Chambers for commercial law. These rankings reflect our competency in providing expert advisory and advocacy services and facilities for our contract and commercial, financial, regulatory, taxation and trusts, employment and arbitration work in the UAE and across the Middle East. As the first and only set of barristers’ chambers to registered office within the Dubai International Financial Centre (Part 1), members have had a busy year working with DIFCA and the Dubai Financial Services Authority. The Legal…

Commercial, News 16 Apr, 2021

Stephen Doherty Obtains $50 million DIAC Arbitration Award

Acting as sole counsel, Stephen has successfully obtained an award for $50 million (USD) in two linked arbitrations for a Dubai-based developer, in proceedings under the rules of the Dubai International Arbitration Centre (DIAC). As part of the same set of proceedings, Stephen also successfully defended a substantial counterclaim exceeding $150 million (USD) in value. The dispute concerned delays to a master developer’s obligations to the sub-developer, particularly in relation to plot hand-over and the provision of infrastructure. It is one of a number of property disputes in which Stephen has successfully acted for parties in the GCC region, arising in the wake of the 2008-09 financial crisis. Stephen was instructed by Adv. Ali Ismael Al Zarooni and Areen Jayousi…

Commercial, News 16 Apr, 2021

The Legal Relationship between Cryptoasset Investors and Intermediaries

Andrew Spink QC of Outer Temple Chambers and Hin Liu of Oxford University were recently invited to join the Tech Dispute Network’s “Need to Know Basis” podcast for an episode on the topical question of the legal basis on which cryptoassets are held on behalf of investors by intermediaries, such as exchanges. It seems like everyone is a cryptoasset investor these days. The surging value of Bitcoin, increased legitimacy leant to the sector by the recommendations from established institutions, and the long hours the world has spent in front of its laptop without alternative distraction has created a booming market for digital assets, which has expanded beyond cryptocurrencies such as Bitcoin and led to mainstream adoption of formally niche products like…

Commercial, News 1 Apr, 2021

PwC v BTI – allegations of abuse of process by collateral attack

Jennifer Seaman has prepared a case note on the recent Court of Appeal case of PricewaterhouseCoopers LLP v BTI LLC 2014, covering abuse of process in professional negligence proceedings. On 11 January 2021, the Court of Appeal handed down its judgment in PricewaterhouseCoopers LLP v BTI 2014 LLC [2021] EWCA Civ 9.  One of the issues the Court of Appeal was asked to consider was whether there was an abuse of process by BTI in bringing professional negligence proceedings against PwC, by way of collateral attack on an earlier decision of Mrs Justice Rose. Jennifer Seaman explores the Court of Appeal’s judgment on abuse of process and highlights some practical points to be taken from the case. Jennifer’s article can be read…

Legal Blog & Publications, Commercial, Commercial, News 11 Mar, 2021

FCA v Arch Insurance – the Supreme Court’s view

Clare Baker summarises the judgment from the Supreme Court in FCA v Arch Insurance (UK) Ltd and others [2021] UKSC 1 and explores the next steps for policyholders. In the last edition of this newsletter, Clare Baker discussed the High Court’s judgment in the business interruption insurance test case brought by the FCA on behalf of policyholders affected by the COVID-19 outbreak which can be read here. The judgment was broadly favourable to the FCA (and therefore policyholders) although it did not find that the defendant insurers were liable across all of the sample policy wording. Both sides appealed parts of the judgment using the “leapfrog” procedure and the Supreme Court heard the appeals from 16-19 November 2020 by video…

Legal Blog & Publications, Commercial, Commercial, News 11 Mar, 2021

Practice Direction 57AC – A Simple Guide

Anson Cheung provides a brief guide to the way that trial witness statements will be prepared as a result of the new Practice Direction 57AC. The new Practice Direction 57AC comes into force on 6 April 2021. It concerns witness statements for use at trials in the Business and Property Courts signed on or after 6 April 2021.  This will involve a fundamental re-think to how such witness statements are produced. The Purpose of Practice Direction 57AC The judges of the Commercial Court felt that witness statements had become “ineffective” in achieving best evidence at proportionate cost in Commercial Court trials. In other words, witness statements were too long, sometimes strayed into submissions and were rarely in the witnesses’ own…

Legal Blog & Publications, Commercial, Commercial, News 11 Mar, 2021

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