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Removing blots from the copybook: third-party rights and HNW Lending Ltd v Lawrence
The authors consider HNW Lending Limited v Lawrence [2025] EWHC 908 (Ch), in which Andrew Lenon KC expressly departed from the ruling of HHJ Dight CBE in the analogous case of HNW Lending Limited v Mark (unreported, Central London County Court, 7 August 2024). Both cases concern whether, and on what basis, a security agent for a lender may sue under the loan agreement by reference to the Contracts (Rights of Third Parties) Act 1999.
28 July 2025The Supreme Court tweaks Etridge
English property law periodically produces epoch-making decisions of the highest court. In years to come, Waller-Edwards v One Savings Bank plc [2025] UKSC 22 may well become such a decision. It enjoys the respectable jurisprudential lineage of three famous House of Lords’ decisions: (i) Barclays Bank v O’Brien [1994] 1 AC 180; (ii) CIBC Mortgages v Pitt [1994] 1 AC 200; and (iii) Royal Bank of Scotland v Etridge No 2 [2002] 2 AC 773, but it also applies established principles in a novel way. In this article, Marc Beaumont considers why the Supreme Court reached the decision that it did including a look at the social policy considerations that influenced it.
28 July 2025The case for paying the costs of insolvency from fixed as well as floating charge assets
This article proposes that insolvency costs should be paid from both fixed and floating charge assets from a percentage cap of their joint value. It argues that doing so would increase the pool of assets from which to satisfy insolvency costs, whilst retaining the utility of charges as a form of security.
28 July 2025DeepSeek and the rise of financial AI: legal and regulatory perspectives from China
DeepSeek and artificial intelligence (AI) have been widely adopted in China’s financial markets, though their use also introduces significant technological risks. This article explores the financial application scenarios of DeepSeek, examines the gaps between China’s financial regulatory framework and emerging technological risks, and offers recommendations for improving financial regulation in the era of low-cost AI.
28 July 2025A risky business: giving and receiving “free” advice
This article considers when an investment bank might (or might not) be entitled to payment for work performed in the hope of winning a mandate, and the risk to a client of accepting such services whilst remaining silent about whether it intends to pay.
28 July 2025Revitalising European securitisation: a French perspective
Europe’s securitisation market is poised for a comeback, but only if it can break free from outdated constraints and embrace bold reform. This article dives into the regulatory crossroads facing the sector, compares the EU’s cautious approach with the dynamism of the US and UK, and spotlights France’s policy initiatives. With trillions needed for green and digital transitions, the piece argues that a revitalised securitisation market could be Europe’s secret weapon for economic growth and financial sovereignty, if policymakers are willing to seize the moment.
01 July 2025Can a watchdog retreat revitalise the London market?
This article examines the decline of London’s financial markets and explores whether a regulatory retreat can revitalise the market. Factors such as Brexit and stringent regulations have decreased initial public offering activity, prompting the UK government to relax rules. However, this raises concerns about weakened corporate governance and investor protection. The challenge is balancing market growth with strong regulatory safeguards.
01 July 2025A guide to virtual IBANs and their regulation
Virtual IBANs have become increasingly popular in the payments industry, but are not always well understood, and the application of regulation (and payment system rules) to vIBANs is not always straight forward. This article explains vIBANs and how they are used, and comments on some related regulatory considerations.
01 July 2025Tokenisation of investment funds: some legal challenges
Much like the industrial and information revolutions before it, the Digital Assets revolution will fundamentally reshape the landscape of financial services. Everything we now know in financial services will be impacted. With the tokenised assets market projected to reach $18.9trn by 2033 (Ribble and Boston Consulting Group1), this article explores some key legal issues arising from the tokenisation of investment funds.
01 July 2025Will lenders have confidence to lend against commonhold?
The Commonhold White Paper, published in March 2025, proposes changes to the commonhold scheme in the Commonhold and Leasehold Reform Act 2002 which are said to make it beneficial not just to flat owners, but also to lenders. This article gives an overview from the lender perspective and as against leasehold.
01 July 2025
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