LEXLAW Solicitors & Barristers
The High Court has ruled that commercial leases were not “temporarily frustrated” by the coronavirus (COVID-19) pandemic and therefore the tenants were still obliged to pay rents to…
In Dwyer (UK) Franchising Ltd v. Fredbar Ltd & Bartlett [2021] EWHC 1218 (Ch), the High Court ruled that self-isolating due to coronavirus (COVID-19) counted as ‘force majeure’,…
In Large v. Hart, the Court of Appeal held a negligent surveyor liable for a house’s full diminution of value as a result of his failure to draw the purchasers’ attention to the property’s defects prior to completion.
Does your insurance policy provide coverage for business interruption as a result of the pandemic? The quickest way to find out is to send our Business Interruption Insurance solicitors your policy and book an advice meeting with our Solicitors and Barristers.
Business interruption insurance covers businesses for loss of income during periods when the business cannot trade as usual due to an unexpected event. If you are a policyholder and your insurer is refusing to paying out for a business interruption claim related to the coronavirus pandemic, seek legal advice immediately as you may have a litigation claim to seek financial redress.
The global and unprecedented ramifications of the coronavirus (COVID-19) pandemic have exposed many businesses to legal complications and difficulties with their commercial contacts. How will coronavirus affect the…
The High Court ruled that fraud allegations against RBS concerning LIBOR manipulation in a derivatives mis-selling claim were “properly arguable,” affecting SMEs sold IRHPs by major banks. LIBOR, a crucial interest rate benchmark, had been rigged by banks including RBS, resulting in hefty fines. RBS admitted misconduct in its LIBOR submissions. Property Alliance Group’s (PAG) case against RBS may set a precedent for extending time limits on claims, emphasizing the importance of seeking legal advice on mis-selling claims affected by LIBOR fraud.
The High Court in Suremime Ltd v Barclays ruled it is arguable that banks owe a duty of care to SMEs to conduct the FCA IRHP Review fairly, as agreed with the FCA. Suremime challenged Barclays’ limited redress offer, arguing the bank breached its duty by not properly following the IRHP Review agreements from 2012 and 2013. The court granted permission to add claims that Barclays owed and breached this duty, enabling affected SMEs to seek legal remedies beyond flawed review outcomes. This decision supports SME rights in swaps mis-selling disputes and helps overcome limitation barriers.
The High Court permitted a judicial review of the FCA’s Interest Rate Hedging Product (IRHP) swaps mis-selling review scheme. The case challenges the fairness and adequacy of the FCA’s redress process, arguing it fails to provide proper compensation and independent oversight. This decision marks a significant step for affected SMEs seeking accountability and more effective remedies for mis-sold swaps under the FCA scheme.
RBS is reviewing past sales of 1,800 Enterprise Finance Guarantee (EFG) loans amid concerns that SMEs in financial distress were not properly informed of the risks. Many borrowers did not realise they remained liable for 100% of the loan despite the government’s 75% guarantee. Banks also often sought inappropriate personal guarantees and charges on primary homes.