LEXLAW Solicitors & Barristers
A letter of credit is a powerful trade finance instrument that protects both buyers and sellers by reducing payment risk in domestic and international transactions. When structured correctly, it provides certainty of payment, improves cash flow, and limits exposure to counterparty default.
The High Court held that Paul and Joanne Rutter unlawfully reduced their directors’ loan account by £560,000 through a back-dated dividend and misapplied over £256,000 of company funds on their personal properties while Rut5 Ltd was approaching insolvency, breaching duties under the Companies Act 2006 and the Insolvency Act 1986.
The Tribunal in Hastings Insurance Services Ltd v HMRC confirmed that UK intermediaries can recover VAT on services provided to overseas insurers. This decision challenges HMRC’s interpretation of VAT law and sets a strong precedent for cross-border transactions.
As crypto fraud escalates, traditional legal tools like Norwich Pharmacal Orders may not be sufficient to unmask anonymous perpetrators. This article explores the limitations of NPOs in the decentralised crypto world and outlines emerging legal remedies, including Bankers Trust Orders, proprietary injunctions, and the Law Commission’s proposed free-standing information orders.
The recent case of Wyatt Paul v HMRC [2022] UKUT 116 (TCC) confirmed: permission by a party must be sought from the Upper Tribunal (UT) to argue a…
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.