News & Events

Nicholas Hill

Watch the Webinar: Jennifer Seaman & Nicholas Hill discuss the new Practice Direction 57AC

Jennifer Seaman and Nicholas Hill recently provided a talk on the new Practice Direction 57AC and its Appendix, highlighting key features and discussing practical ways to ensure compliance with the Practice Direction and avoiding sanctions. 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. It will involve a fundamental re-think to how such witness statements are produced. Jennifer and Nick presented a virtual talk recently, aimed at helping commercial and private client practitioners get to grips with the new rules. Watch the webinar; Practice Direction 57AC; Witness Statements About the speakers Jennifer Seaman is a leading…

Pensions Webinars, News, Webinars & Vlogs, Pensions 25 Mar, 2021

Webcast invitation: Equalising for the effect of unequal GMPs: Lloyds 2 – transfers

We are delighted to invite you to a webcast about the recent Lloyds Judgment on Wednesday 9th December. Hear from Andrew Short QC, Richard Hitchcock QC and Nick Hill,  experts from our Pensions Team and counsel instructed on the case. As you will be aware, in 2018 the first Lloyds Judgment confirmed that pension schemes had to equalise excess benefits for the effect of unequal GMPs. It did not however address the position of trustees of pension schemes where a member had transferred out and the trustees had made a transfer payment. On 20th November 2020, Judgment concerning the position of trustees following on a transfer payment was handed down. The consequences of this Judgment for pension schemes are far reaching…

Events 25 Nov, 2020

Equalising for the effect of unequal GMPs: Lloyds transfers Judgment

Andrew Short QC and Nicholas Hill acted for the Representative Defendant in this long-awaited and much anticipated case confirming the scope of the obligation to equalise for the effect of unequal GMPs following transfers out. In 2018 the first Lloyds Judgment [2018] EWHC 2839 (Ch) confirmed, over 20 years after the obligation arose, that pension schemes had to equalise benefits for the effect of unequal GMPs. The 2018 Judgment did not address the position of trustees of pension schemes where a member had transferred out and the trustees had made a transfer payment. In circumstances where the payment made failed to reflect the value of the member’s equalised benefits the unanswered question was whether the trustees remained under an obligation…

Events, News, Pensions 20 Nov, 2020

The Bribery Act 2010’s four primary categories of offence

Nick Johnson QC, Nick Hill and Sophie O’Sullivan authored the third chapter of Lissack and Horlick on Bribery and Corruption. This chapter summary looks at the four primary categories of offence under the Bribery Act 2010, with reference to recent trials, caselaw, guidance and deferred prosecution agreements. It is part of a serialisation of the chapters that members of Outer Temple contributed to the publication. The Bribery Act 2010 abolished the common law offences and swept away the somewhat outdated nineteenth and twentieth century Prevention of Corruption Acts, to provide clarity to bribery law by putting the offences in a singular, statutory context. Chapter 3 of Lissack and Horlick on Bribery and Corruption answers core and fundamental questions about the composition and scope of…

Business Crime, Business Crime, Legal Blog & Publications, News 21 Oct, 2020

Publication of the Third edition of Lissack and Horlick on Bribery and Corruption

We are delighted to announce that the Third edition of Lissack and Horlick on Bribery and Corruption has been published by LexisNexis Butterworths. The practitioner’s book was edited by Fiona Horlick QC and Richard Lissack QC, and was contributed to by a number of Outer Temple members. In 2010, the UK’s law on bribery changed from a collection of ancient statutes, distorted in some cases by contradictory authority, to a single statute often regarded as one of the most rigorous, and wide-ranging in application, in the world. Since coming into force in 2011, numerous prosecutions were brought on the basis of the Bribery Act as well as five of the eight deferred prosecution agreements reached in the UK to date. It…

Business Crime, Business Crime, Legal Blog & Publications, News 30 Sep, 2020

Watch the Webinar: Indexation and the courts’ recent wrestles with RPI

Outer Temple Chambers collaborated with Richard Gibson of Barnett Waddingham LLP to look at the current and future actuarial and legal landscape of inflation. Watch the recorded webinar here. What is the outlook for inflation as a result of the COVID-19 pandemic, lockdown and the various government support schemes for businesses? Will there be renewed pressure on schemes to explore options to switch out of RPI-based escalation? A run of cases in the High Court, Court of Appeal and Supreme Court since 2012 have confirmed that in principle scheme powers may be available to switch from RPI to CPI, following the lead taken by the State schemes (and the statutory minima for revaluation and LPI increases) in 2010. But these…

Legal Blog & Publications, Pensions Webinars, Webinars & Vlogs, Pensions 28 Jul, 2020

Webinar Invite: Indexation: The courts’ recent wrestles with RPI

Outer Temple invites you to a multi-disciplinary webinar on the courts’ recent wrestles with RPI, with Lydia Seymour, David Grant, Philip Stear, Nicholas Hill and Richard Gibson. What is the outlook for inflation as a result of the COVID-19 pandemic, lockdown and the various government support schemes for businesses? Will there be renewed pressure on schemes to explore options to switch out of RPI-based escalation? A run of cases in the High Court, Court of Appeal and Supreme Court since 2012 have confirmed that in principle scheme powers may be available to switch from RPI to CPI, following the lead taken by the State schemes (and the statutory minima for revaluation and LPI increases) in 2010. But these decisions have also suggested…

Events 8 Jul, 2020

Contract Law and Consideration – Revisiting Foakes v Beer: what role for practical benefit in a world recovering from a pandemic?

Consideration remains at the heart of contract law in England and Wales but the current crisis throws the unsatisfactory state of the law into sharp relief. Nicholas Hill and Patrick Tomison consider the current state of the law and how it might change to reflect the commercial reality of the 21st Century. In 2018 Lord Sumption JSC said that “[m]odern litigation rarely raises truly fundamental issues in the law of contract”. The Common law’s approach to consideration in contract law is one such issue highlighted by the current crisis. A bird in the hand is better than two in the bush In Revisiting Foakes v Beer, Nicholas Hill and Patrick Tomison revisit the Common law’s approach to the principle of consideration enunciated “in…

Legal Blog & Publications, Commercial 12 Jun, 2020

Remote hearings and electronic bundles – reflections on the Lloyds GMP case

Practical tips for remote hearings and electronic bundles – Nicholas Hill reflects on a seven-day trial by Skype in the Lloyds GMP litigation. Nicholas Hill recently acted, led by Andrew Short QC, and instructed by Ivan Walker of Walkers, for the Eighth Defendant in the second substantive trial in the Lloyds Banking Group Pension Trustees Limited GMP litigation. The 2018 Judgment [2018] EWHC 2839 (Ch) confirmed that pension scheme trustees are required to adjust non-GMP benefits to equalise overall scheme benefits. The proceedings earlier this month concern the impact of the equalisation obligation on transfers out. Judgment is awaited. Nick sets out some practical tips and observations about the use and impact of technology adopted in the recent trial. In the…

Legal Blog & Publications, News, Pensions 26 May, 2020

High Profile Financial Services and Pensions Judgment; Adams v Options SIPP UK LLP

Adams v Options SIPP UK LLP (formerly Carey Pensions UK LLP); Nicholas Hill comments on the Judgment two years in the making: clarity and relief for SIPP operators and execution only financial services businesses. In March 2018 the Chancery Division heard the high-profile test case on the liability of Carey Pensions UK LLP, a provider and administrator of self-invested pension plans (SIPPs), to the Claimant investor, whose underlying investments were alleged to have been manifestly unsuitable. A little over two years later Judgment has finally been handed down. The SIPP industry (and indeed a wide range of institutions conducting business on an execution-only basis) will welcome the Judgment. Case Note Nicholas Hill has written a short case note considering the Judgment…

Legal Blog & Publications, Financial Services 21 May, 2020

Judgment in the Lloyds GMP Equalisation case

On 26 October 2018 Mr Justice Morgan handed down Judgment in Lloyds Banking Group Pensions Trustees Limited v Lloyds Bank PLC & Others. Andrew Short QC and Nicholas Hill acted for the Representative Beneficiaries, instructed by Ivan Walker of Walkers Solicitors. This landmark decision settles the longstanding question of whether Pension Scheme Trustees are required to adjust non-GMP benefits (“Excess”) in order that the total benefits received by male and female members with equivalent age, service and earnings histories are equal. In summary, the Judge held that: Pension Scheme Trustees are obliged to adjust the Excess payable under schemes in order that the total benefits received by male and female members with equivalent age, service and earnings histories are equal.…

News 26 Oct, 2018

RDC success in pro-bono appearance for Nicholas Hill

Nicholas Hill successfully appeared before the Regulatory Decisions Committee (RDC) of the Financial Conduct Authority (FCA) on 20 April 2016. His client was the team leader in a large UK bank which had paid a multimillion pound fine as a result of failures identified by the FCA in respect of its Payment Protection Insurance complaint handling process. The FCA’s Enforcement Team proposed to impose a prohibition order on Nicholas’ client prohibiting his client from performing any function in relation to any regulated activity carried on by an authorised person, exempt person or professional firm. Enforcement proposed (what is often described as) a time limited prohibition order with a duration of two years but the significance of any prohibition for Nicholas’…

News 11 May, 2016

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