LEXLAW Solicitors & Barristers
Real Estate Tycoon, Tchenguiz challenged the £6.5 million claim by IG Index Limited over spread-betting debt but court upheld the claimant’s position. The ruling implicates critical precedent for financial instruments, spread betting, statutory interpretation of financial regulations.
Borrowers are increasingly bringing £multi-million unfair relationship claims before the County Court, which has a wide discretion to alter the terms of unfair agreements to render them fair.
In debt claims for the provision of services, the Court of Appeal has determined that time starts to run for limitation purposes from the date the work was done, rather than from the contractually agreed deadline for payment: Consulting Concepts International Inc v Consumer Protection Association (Saudi Arabia) [2022] EWCA Civ 1699).
Given the complexity of business interruption claims and the legal uncertainty surrounding their enforcement (the FCA have issued a test case recently in the High Court), it is advisable that you seek expert legal advice early in order to prepare your Business Interruption Insurance claim.