LEXLAW Solicitors & Barristers
The landmark Court of Appeal judgment in Shaista Zuberi v Lexlaw Limited [2021] EWCA Civ 16 makes clear that termination fees are not caught by the DBA Regulations and any DBA including termination clauses is enforceable. The judgment paves the way for DBAs to flourish and enhances access to justice.
The DPS is intended to promote a wholesale change of culture in the approach to the disclosure process in civil litigation, with the hope that it will result in a more efficient and flexible disclosure process, tailored to the individual requirements of each case.
In light of the current circumstances surrounding COVID-19 which are affecting many small businesses and individuals including commercial landlords, new legislation has been issued to assist these individuals.…
As a result of COVID-19, many companies are facing financial difficulties and distress. How directors respond will depend on the nature of the business, the current financial status…
In Grondona v Stoffel & Co [2018] EWCA Civ 2031, the Court of Appeal placed more importance on the public policy argument of clients being able to seek damages…
In October 2018, the UK Finance-commissioned Walker Review of the redress landscape for SMEs was published. Amongst the recommendations for the settlement of both past and future disputes…
From 1 April 2019, the Financial Ombudsman Service (FOS) can make awards against regulated firms of up to £350,000, which represents an increase of 133%. The following award…
The door has been opened by the Court of Appeal in PAG v RBS [2018] for misrepresentation claims to be brought by a counter-party to a derivative which…
UK Parliament unanimously condemned RBS’s Global Restructuring Group (GRG) for its systemic mistreatment of SMEs, describing it as a parasitic unit engaged in asset stripping and aggressive litigation tactics. MPs highlighted GRG’s role in artificially distressing viable businesses, undervaluing assets, and employing harsh recovery strategies during 2008-2013, leading to widespread financial harm. The FCA’s delayed and redacted report faced heavy criticism, with calls for transparent accountability, a Financial Services Tribunal, whistleblower protections, and full release of investigations.
Ross McEwan, CEO of RBS, apologised for past mistakes with SME customers in the Global Restructuring Group (GRG) but rejected key critical findings from the FCA report. He acknowledged some failings like poor communication and complaint handling but denied systematic misconduct or direct causation of insolvency by RBS. McEwan highlighted major cultural and operational changes at RBS since and emphasized ongoing compensation and complaints processes agreed with the FCA. The FCA’s Andrew Bailey described RBS’s stance as “unfortunate,” with potential enforcement action underway.