Category: Financial Services Litigation

Companies Act 2006 Section 994 Petitions litigation solicitor shareholder london uk

Court of Appeal Decides s.994 Petitions Subject to Statutory Limitation Period

In a significant shift, the Court of Appeal determined that unfair prejudice petitions under section 994 of the Companies Act 2006 have a 12-year statutory limitation period, reversing previous beliefs and affecting future legal approaches to such claims. This ruling, THG Plc v Zedra Trust Company (Jersey) Ltd [2024] EWCA Civ 158, changes the legal landscape for minority shareholder disputes, requiring a reevaluation of existing strategies and the potential for earlier claims.

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Bridging Loan Case Study: McDonald v London Credit – Default Interest Rate – Unenforceable Penalty

In this case our lawyers defeated “London Credit”; a bridging lender that demanded circa £160,000.00 GBP. We applied to the High Court and successfully set aside a default judgment then forced the withdrawal of a statutory demand, and 3 interim charging orders. We then forced the other side to settle – for a fraction of the sum demanded.

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Bringing Professional Negligence Claims: McClean and Others v Thornhill

The case of McClean and Others v Thornhill sheds light on how those providing advice may now protect themselves based on the technicalities of a disclaimer. Multiple investors…

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Court of Appeal assesses swap mis-selling complaint under FCA DISP

The Court of Appeal recently analysed a swap mis-selling complaint submitted by the Claimant under the FCA Dispute Resolution scheme (“DISP”), which complaint would stop time running for the purposes of a making a complaint to the Financial Ombudsman Service (“FOS”).

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Insurance industry’s reaction to Supreme Court BII test case positive for businesses

The Supreme Court Business Interruption Insurance (BII) test case has brought clarity to policyholders who have been affected by COVID-19 and have previously been denied BII cover by their insurers. This is causing insurers to reassess policyholders’ disputes on a case by case basis. If you are an affected business, you should seek legal advice as soon as possible and our specialist financial services litigation team can be instructed to assist.

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Case Study: Mis-sold bridging loan to obtain bankruptcy annulment

You can apply to annul your bankruptcy on the basis that all of your debts and expenses have been repaid in full or to the satisfaction of the Court. Third parties such as claims management companies commonly assist bankrupts in obtaining a bridging loan or other short term finance. Due to the nature of these complex, high interest rate loans, you should seek legal advice in relation to the same, which loans are commonly mis-sold and can result in the individual finding themselves in further financial difficulty e.g. facing possession.

FCA bans sale of cryptocurrency derivatives to retail customers

Following its investigations, the FCA has published rules banning the sale of cryptocurrency investments to retail investors in the UK after concluding that they are ill-suited for such customers. The FCA estimates that retail consumers will save around £53m from the ban on these complex financial derivatives which commences in January 2021.

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FCA’s Business Interruption Insurance test case heading to the Supreme Court

Given the complexity of business interruption claims and the legal uncertainty surrounding their enforcement, it is is essential that you seek expert legal advice early in order to prepare your Business Interruption Insurance claim.