News & Events

Commercial

Delegation not abdication: directors’
duties under scrutiny in syndicated loans

In syndicated lending it is common for lenders to delegate functions to an Agent and equally common for companies within a group to authorise the parent to act on their behalf. That has ramifications for the directors of the delegating companies – and for the directors of the delegate. This article, written by Helen Pugh, considers the issues which may arise. A common feature of syndicated loans is the role of Agent and the delegation bycompanies of functions in connection with the syndicated loans. In most cases, delegation will be a lawful and commercially pragmatic act. But there are pitfalls for the unsuspecting director who remains personally responsible for discharging his director’s duties to the company. Delegation should be thoroughly…

Commercial, News 12 May, 2022

Ed Morgan QC joins Outer Temple Chambers

We are delighted to welcome Edward Morgan QC to our business team. Ed joins us with a well-established practice focused on employment law, commercial law, disciplinary and regulatory work. He is also an accredited Mediator and Arbitrator. Ed studied in Northern England (LLB and LLM) and Belgium (JCL, PhD and JCD). He was called to the Bar of England & Wales in 1989 and the Bar of Northern Ireland in 2000. He was appointed silk in 2021. His judicial appointments include fee-paid Employment Judge and Assistant Coroner. Ed’s expertise is widely recognised; he regularly writes case reviews for LexisNexis and professional book reviews for specialist journals, including the Ecclesiastical Law Journal and the Canon Law Society of Great Britain and…

Commercial, News, Employment 27 Apr, 2022

Breakthrough in access to justice for victims of crypto fraud

Asset Reality, Grant Thornton UK LLP, Outer Temple Chambers, Rahman Ravelli and Sandton Capital collaborate to help victims of crypto-related fraud overcome access to justice hurdles. While crypto-related fraud reached an all-time high in 2021, with illicit addresses receiving US$14bn over the course of the year*, up 79% on the previous year, matters brought before courts remain comparatively low, in large part due to a lack of funding options for otherwise meritorious lower-value claims. Under the new collaboration, Asset Reality, Grant Thornton UK LLP, Outer Temple Chambers, Rahman Ravelli have established a triage system for the initial assessment of claims, with investigatory and corporate intelligence expertise then deployed to contextualise claims for legal assessment. Meritorious claims will be assessed and…

Commercial, News, Financial Services 27 Apr, 2022

Chloë Bell to speak at ThoughtLeaders4 Tech on FIRE Event in London

Chloë Bell has been invited to join a panel discussion on the latest trends in cryptocurrency disputes at the Tech on Fire Conference on Thursday 28th April, in partnership with the Tech Disputes Network. Tech Disputes Network and ThoughtLeaders4 are collaborating to bring you an unique event bridging the gap between the Disputes, Technology, Fraud and Asset Recovery communities. This one day event will bring together professionals from the technology and legal industries interested in avoiding, managing and winning tech disputes. Topics over the course of the day will include cyber fraud, limitations of new technologies, data theft, rogue employees, ransomware, reputation management and cryptocurrency disputes. Latest Trends in Cryptocurrency Disputes Chloë Bell will be joining a number of experts at the…

Events, Commercial 21 Apr, 2022

Chartered Institute of Arbitration presents Cryptocurrency Disputes – Litigation v Arbitration

Watch The Debate: Cryptocurrency Disputes – Litigation v Arbitration

Stephen Doherty and Chloë Bell recently joined the Chartered Institute of Arbitrators’ London Branch Committee for an interesting panel discussion on how to resolve cryptocurrency disputes. Watch the full discussion here. This event featured a group of expert panellists who debated the best way to resolve cryptocurrency disputes. Ben Giaretta, Chair of the London branch of the Chartered Institute of Arbitrators hosted the evening, opening and closing the event. Chloë Bell (Outer Temple Chambers) and Charlotte Hill (Penningtons Manches Cooper LLP) discussed the benefits of litigation, whilst Stephen Doherty (Outer Temple Chambers) and Jaak Poldma (White & Case) discussed the benefits of arbitration. The branch was honoured to have Lord Mance, former Deputy President of the Supreme Court of the United…

Events, Commercial 20 Apr, 2022

Members excel in Legal 500 EMEA 2022 Commercial Law rankings

Legal 500 have just announced their EMEA results and we are proud to announce that Outer Temple and a number of our members have been ranked for commercial expertise in the Middle East. These rankings reflect competency in providing expert advisory and advocacy services and facilities for contract and commercial, financial, regulatory, taxation and trusts, employment and arbitration work in the UAE and across the Middle East. Outer Temple Chambers is the first and only set of barristers’ chambers to have a registered office within the Dubai International Financial Centre (Part 1). Tier 2 Set Outer Temple Chambers has been ranked as Tier 2 set in the Middle East: The English Bar: Commercial guide. Testimonials provided to Legal 500 included:…

Commercial, News, International 13 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

Lloyds of London

Chloë Bell and Anson Cheung act for Lloyd’s in ground-breaking non-financial misconduct proceedings

Lloyd’s of London has today issued a Public Censure, the first of its kind, against Atrium Underwriting Limited relating to non-financial misconduct by employees and failures by Atrium in the way in which it responded to allegations of misconduct. In regulatory Market Bulletin Y5252, Lloyd’s set out its policy in relation to conduct involving harassment, bullying, discrimination, and consumption of alcohol or drugs at work. The Bulletin makes clear that in addition to the actions of individuals, of “equal importance is the culture of the firm for whom the individual works and whether it supports or tolerates a culture of unacceptable personal behaviour towards others.” The proceedings against Atrium were brought as a result of serious failures by the firm including failures…

Commercial, News 16 Mar, 2022

Outer Temple successful in bitcoin fraud case in the Commercial Court

Andrew Spink QC, Helen Pugh and Chloë Bell have been successful in major bitcoin fraud case Ellis v Digit Europe Ltd. In Ellis v Digit Europe Limited the claimant alleged he had been the victim of a multi-million pound, complex fraud perpetrated by a web of persons unknown and sham companies purporting to offer bitcoin investment and management services. In December and January the claimant obtained worldwide freezing orders against alleged recipients of bitcoin identified following a tracing exercise on the blockchain which led to deposit addresses on the Kraken exchange.A fully contested return date due to be heard on Thursday 3 March by Mr Justice Jacobs raised wide ranging issues including a challenge to the now familiar view that…

Commercial, News 9 Mar, 2022

Cryptocurrency

Outer Temple joins CIArb Seminar; Cryptocurrency Disputes – Litigation v Arbitration

Stephen Doherty and Chloë Bell have been invited to join the Chartered Institute of Arbitrators’ London Branch Committee at its latest event on 17th February; “Cryptocurrency disputes – Litigation v Arbitration”. The event will feature a group of expert panellists who will debate the best way to resolve cryptocurrency disputes.  The Event Moderator: Lord Mance Panel: Stephen Doherty, Chloë Bell, Tope Adeyemi, Charlotte Hill and Jaak Poldma The branch is honoured to have Lord Mance, former Deputy President of the Supreme Court of the United Kingdom, moderating the event.  Tickets are free but limited, and will be allocated on a first come basis, therefore those who wish to attend are encouraged to register quickly. The debate will be centred around a…

Events, Commercial 14 Feb, 2022

Lydia Seymour successful in Court of Appeal case CRAFT v Pope & Ors

Lydia Seymour recently acted for the successful Respondent in CRAFT v Pope & Others [2022] EWCA Civ 22, which considered the extent to which a company could subsequently challenge the decisions of sole Directors and Members to award themselves company property.  CRAFT brought claims for breach of directors’ duties and breach of fiduciary duty against its former directors/members who had awarded themselves company property in circumstances in which the company’s constitution prevented distribution of its assets. The Defendants had asserted that they could not be in breach of any duty to the company because the interests of the company should be equated to the interests of the sole members/directors, and further that the company could not bring any claim in…

Commercial, News, Pensions 9 Feb, 2022

Henry Reid

Henry Reid joins Outer Temple’s commercial team

Outer Temple Chambers is delighted to welcome Henry Reid to our commercial law team.  Henry Reid’s practice covers a wide array of commercial, chancery and financial services matters with an emphasis on commercial litigation, contentious and non-contentious financial services, regulatory investigations and banking law. A former pupil of Outer Temple, Henry returns to us after building a career in both legal services and financial services. He recently spent five years at Signature Litigation LLP, a specialist law firm handling major and complex litigation, arbitration and regulatory investigations. During his time there, Henry worked on a number of significant matters, most notably on disputes in the Commercial Court concerning civil fraud, banking and finance and professional negligence as well as advising…

Commercial, News, Financial Services 11 Jan, 2022

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