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Why Italy does not need the trust (for now)
In this article, Lisa Curran considers the methods for protecting investors’ rights in securities under Italian law.
25 March 2024Moveable Transactions (Scotland) Bill: some funding opportunities
The Moveable Transactions (Scotland) Bill was recently introduced to the Scottish Parliament. The reforms were proposed by the Scottish Law Commission in December 2017 and the author and Dr Andrew Steven, the Scottish Law Commissioner responsible for the Commission’s report, outlined the proposed new regime in the February 2018 edition of this journal (2018) 2 JIBFL 71. It is not proposed to repeat that analysis, but instead to discuss in a little more detail some of the opportunities which arise from the Bill.
25 March 2024Stablecoins as security? Never say tether
This article considers whether stablecoins such as USD Tether (USDT) which do not present the same volatility risks as Bitcoin might be a satisfactory alternative to either payment into court or a guarantee from a first-class London bank.
25 March 2024Reform of the law on deeds: options for the Law Commission
This article deals with the proposals of the City of London Law Society (CLLS) Financial Law Committee to the Law Commission in connection with their review of the law on deeds, likely to be one of the projects in their 14th Programme of Law Reform. Proposals focus on resolving a number of issues related to the execution of deeds, including in the form of electronic documents, as well as resolution of some conflict of laws issues, clarification of when a deed is required and of the status of a “failed” deed.
25 March 2024Digitised trading and settlement: Exchange 4.0
In this article, the authors consider the benefits of, and legal issues with, Exchange 4.0, a model that addresses current questions about how distributed ledger technology (DLT) can change market infrastructure, clearing, settlement and custody systems.
25 March 2024Russian sovereign debt default: a disputes perspective
Russia’s default on its foreign currency sovereign bonds is unprecedented and likely to lead to bondholder litigation as well as derivatives disputes. This article highlights the reasons for Russia’s default and explores the scope of potential bondholder litigation, together with some of the obstacles which bondholders may face in bringing claims against Russia. The article then considers the ripple effect on the derivatives market, where it is possible that investors in products linked to Russian debt may seek to recover losses by bringing mis-selling claims.
20 March 2024The classification of interest rate swaps as contingent liability cases
In this article, Katherine Ratcliffe summarises Mr Justice Jacobs’ decision in CJ and LK Perks v NatWest Markets [2022] EWHC 726 (Comm) as to when the limitation period for an interest rate swap began and explains why Mr Justice Jacobs’ conclusions are correct.
20 March 2024Licence to Quill: legal services licences following the recent wave of Russian sanctions
In the wake of Russia’s unlawful invasion of Ukraine, public perception, triggered – and at times encouraged – by the media and MPs, appears to support a blanket ban on representing persons and entities designated (DPs) under the UK’s new sanctions framework, or even non-designated persons allied to Vladimir Putin or his regime. As a result, lawyers have quickly become stuck between, on the one hand, a purported moral obligation and internal-firm practice based on commercial considerations ostensibly consistent with foreign policy and, on the other, their duty to preserve due process. In this article, Alex Haines delineates between what is and is not permitted.
20 March 2024ESG Update: Green/sustainable finance in the real estate finance market
In this update Oriol Espar and César Herrero examine recent trends in real estate financing from a green/sustainability perspective and offer some guidance on dealing with green/sustainability-related wording, especially as regards green real estate finance transactions.
20 March 2024Orthodoxy prevails? How receiving banks avoid liability for their customers’ frauds
Two recent cases have considered the issue of when a bank can be held liable by a victim of fraud on the basis that the fraudster directed the victim to make payment to an account held with the defendant bank. In both these recent cases, the receiving bank has been comprehensively excused of any liability. However, whether the receiving bank can ever be held liable in such circumstances remains an open question.
20 March 2024
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