LEXLAW Solicitors & Barristers
We successfully represented a client in a significant cryptocurrency loan dispute. On 2 July 2024, the High Court handed down a judgment varying the valuation date for assessing damages in lieu of specific performance. Initially, the County Court had set the valuation date at the breach in 2019, which did not account for the significant increase in Ethereum’s value.
The High Court, in its decision on Litasco SA v Der Mond Oil and Gas Africa SA & Anor [2023] EWHC 2866 (Comm), clarified the application of force majeure and the “ownership and control” test under UK sanctions law. It emphasized that significant difficulty, nearly impossible to overcome, is necessary to invoke force majeure for debt obligations. The ruling further established stringent criteria for proving “control” in relation to sanctioned entities, highlighting the necessity for actual influence over business decisions, rather than theoretical possibilities, to satisfy this condition. This decision provides a clearer framework for businesses handling contracts under these terms.
In the recent case of Ulster Bank DAC and Ors v McDonagh and Ors, the Court of Appeal confirmed that, as debt recovery cases are not considered actions for “damages”, the Civil Liability Act 1961 (CLA) does not apply to them.
A recent case of Beattie Passive Norse Ltd Anor v Canham Consulting Ltd highlights the importance of causation and repercussions of providing an inaccurate value of a claim.
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’,…
A Letter of Credit is an irrevocable written commitment by a Bank to make payment to a seller, in connection with the export of specific goods, against the presentation of specified documents identified in the Letter of Credit and relating to those goods. If you have a dispute about a documentary credit our expert UK lawyers can assist.
This is another decision from the Chancellor of the High Court, which demonstrates that Court’s are likely to prioritise arbitration when it comes to disputed debts.
In Les Ambassadeurs Club Ltd v Albluewi [2020] EWHC 1313 (QB), the High Court discharged a worldwide freezing order (WFO) obtained by a casino against its customer in finding that the claimant had failed to establish a real risk of dissipation of assets and that there had been material non-disclosures which were directly relevant to the risk.
In a multi million pound breach of contract case, where there was no substantive defence to the claim and the Defendant accepted summary judgment and liability for the Claimant’s costs, the High Court held that a Claimant’s Part 36 offer to accept only 0.3% less than the full sum being claimed was a “genuine offer to settle” under CPR 36.17(5)(e).