Articles by author
Celestial v UniCredit: the Supreme Court decision and its ramifications
This article considers the decision of the Supreme Court in Celestial Aviation Services Limited v UniCredit Bank GmbH [2026] UKSC 10,1 looking at the court’s approach as a matter of law and the practical and commercial ramifications of the decision, on the world of trade finance in particular.
25 JUN 2026Waiver and estoppel arguments against debt enforcement
This article considers arguments of waiver, estoppel and variation that borrowers may raise to resist debt enforcement action, and their interaction with so-called “no oral modification” provisions typically found in finance documentation. It also considers some practical implications of the principles in the banking and finance context.
6 MAR 2025Anticipating an FX spot trade: front running or just trading ahead?
This article considers aspects of the recent decision in The ECU Group Plc v HSBC Bank Plc and Ors,1 in particular concerning the difference between legitimate “trading ahead” and illegitimate “front running” in the context of FX spot trading, and issues of causation. The current regulatory framework around spot FX is also considered before some practical conclusions are drawn.
1 FEB 2022Russian sanctions in the English courts
This article considers the effect of sanctions imposed by the UK following Russian’s invasion of Ukraine in February 2022 on litigation, commercial transactions and insolvency, via an overview of a series of decisions of the English High Court in these areas.
1 AUG 2023
