Feature
773
Go to page
of
78
The business with human data: improving governance in the information age
If the sole purpose of everything is to be monetized and sold for profit, human data may be deemed the “new oil”. Yet, human data offers far greater opportunities and its reduction to a commodity creates substantial costs. The business with data has not created free markets, but conglomerates with excessive power. Data producers are denied a voice and the economic benefits to what they produce, and society is deprived of social welfare enhancing opportunities. Human data deserves a better governance structure that can be crafted from known organisational forms enhanced by modern technology.
13 June 2024CNH v Cleveland: impact of Court of Appeals decision on out-of-court European high yield restructurings
In 2020, a US court determined that minority noteholders’ rights to receive principal and interest on their notes survived a “strict foreclosure” and cancellation of notes, undertaken by the indenture trustee at the direction of a majority of noteholders. In this article, we consider the potential effect of that decision on out-of-court, majority-led share pledge enforcements, which are a key debt-restructuring tool in the European market.
13 June 2024Are banks obliged to disclose credit adjustment spreads to SONIA?
LIBOR will be replaced by SONIA from the beginning of 2022. With SONIA rates typically lower than LIBOR, banks will seek to make up the difference by application of a Credit Adjustment Spread (CAS), likely to be calculated by reference to the median difference between LIBOR and SONIA over the previous five-year period. This article considers the extent to which banks will be required to disclose the existence of the CAS and its method of calculation to customers in the light of previous findings by the court of the lack of an obligation on banks to disclose the Credit Line Utilisation (CLU) to customers.
13 June 2024Battle of the acronyms: GDPR vs AI – automated decision-making by ride-hailing apps
The Amsterdam District Court has recently considered three cases involving ride-hailing apps which throw into focus the nature of automated decision-making processes, particularly those which involve Artificial Intelligence (AI) and machine learning (already used by banks across a range of business areas). Although the issues arose in a GDPR context, it is instructive to see how the court addressed them in Applicants v Uber BV (case number C/13/692003/HA RK 20-302), Applicants v Uber BV (case number C/13/687315/HA RK 20-207), and Applicants v Ola Netherlands BV (case number C/13/689705/HA RK 20-258).
13 June 2024Wither principle in English corporate restructuring law?
In the UK, multiple procedures to achieve a restructuring are available which can be used alone or in combination with each other. Although there is much to be said for this approach in terms of flexibility and adaptability, there is also a risk of creeping inconsistencies in the regime, as different results are arrived at in determining the same issue depending on which procedure is used. In this article, Sarah Paterson explores a few examples and suggests a growing need for it to be addressed by the courts where that is possible, and by the legislature where it is not.
13 June 2024Brexit: domestic courts’ new power to depart from pre-withdrawal case law
This article defines the statutory concept of retained EU case law under the European Union (Withdrawal) Act 2018 and identifies the test that certain UK courts may now apply in order to depart from it, namely that applied by the Supreme Court in departing from its own precedents. The discretion has historically been applied sparingly, principally for reasons of legal certainty. The same considerations are likely to limit the use of this new power, however possibly not to the same extent. It is unknown if domestic courts will treat it as inherently undesirable for UK and EU law to diverge.
13 June 2024Stamp Duty and stock transfer forms: the end is nigh?
On 21 July 2020, HM Revenue & Customs (HMRC) launched a consultation paper titled Modernisation of the Stamp Taxes on Shares Framework (consultation paper), recognising that “Stamp Duty, as a paper-based regime, is often regarded as an anachronistic feature of an otherwise high performing UK tax system”.
13 June 2024Roll-up rescue financing in Singapore: giving old debt senior priority
At its introduction into Singapore’s restructuring laws in 2017, rescue financing was heralded as value enhancing and associated with a higher probability of successful recovery for distressed companies. This article discusses the application of the rescue financing regime, including the first instance of a roll-up, and the way forward for rescue financing in Singapore.
13 June 2024The European Commission’s Digital Finance Package from the perspective of private law
This article examines the interplay between national (private) law and the legislative measures subsumed under the European Commission’s Digital Financial Package (DFP or the Package). For the reasons explained in this article, the Package may not attain, in full, its harmonisation and single market policy objectives, to the extent that it leaves the question of the legal attributes of crypto-assets to the discretion of national legislators and to the different legal traditions of the EU member states in matters of private law, rather than settling them centrally, possibly by reference to a limited-purpose European private law.
13 June 2024Steaming away from Canada Steamship? The interpretation of exemption clauses in finance documents
Judicial statements over the years have led some commentators to detect a trend away from the use of anything other than general contractual principles in the interpretation of exclusion clauses. Of the special principles at risk, perhaps the best known is the three-stage framework formulated by the Privy Council in 1952 in Canada Steamship Lines Ltd v The King. This article examines recent case law and considers whether that trend may have run its course.
13 June 2024
Go to page
of
78
