Legal and Regulatory News

Updates on the latest legal and regulatory developments

Interaction between applications for an interim mandatory injunction and for a stay of proceedings under the Arbitration Act 1996

In Jacobs E&C Limited v Laker Vent Engineering Ltd [2015] EWHC 4818 (TCC), the High Court considered the interaction between two applications which had been made to the court in respect of a dispute which was subject to arbitral proceedings: (1) an application for an interim mandatory injunction in support of arbitration under sections 44(2)(e) and 44(3) of the Arbitration Act 1996 (the “1996 Act”); and (2) a cross-application for a stay of the injunction proceedings pursuant to section 9 of the 1996 Act.

18 August 2015

High Court provides guidance on grounds to make an application to (1) suspend enforcement of an award and (2) provide security pending a set aside application

In Y v S [2015] EWHC 612 (Comm), the Commercial Court considered the circumstances in which it will: (1) make an order suspending the enforcement of an arbitral award; and (2) make an order for the provision of security pending an application challenging an award.

This case confirms that parties will not be able to obtain pre-emptive orders preventing enforcement on a worldwide basis or limited to England and Wales in conjunction with applications to challenge arbitral awards under sections 67, 68 and 69 of the Arbitration Act 1996 (the “1996 Act”).  The appropriate time to apply for such an order is when the successful party takes steps to enforce the award.  Parties who wish to obtain security whilst such an application is pending should apply under section 70(7) of the 1996 Act.  Whether such security will be granted is at the court’s discretion and the court will likely consider the strength of the challenge to the award and if there would be any prejudice caused if no security is granted.

18 August 2015

The power to grant anti-suit injunctions where arbitration is on foot

In considering an application to continue an anti-suit injunction restraining proceedings brought in China where arbitral proceedings were on foot, the Commercial Court has confirmed in Southport Success SA v Tsingshan Holding Group Co Ltd [2015] EWHC 1974 (Comm) that the power to grant an anti-suit injunction under section 37 of the Senior Courts Act 1981 is distinct from that arising under section 44 of the Arbitration Act 1996.

18 August 2015

High Court refuses to grant anti-arbitration injunction

In AmTrust Europe Ltd v Trust Risk Group SpA [2015] EWHC 1927 (Comm), the High Court confirmed that the English court has jurisdiction to make an injunction restraining the pursuit of arbitration proceedings, notwithstanding that the seat of that arbitration was is in another jurisdiction.  Such power should, however, only be exercised in exceptional circumstances and with caution.  

18 August 2015

Olswang EU competition law bulletin – Technology focus

In this bulletin we provide a round-up of recent competition law activity in the technology sector including an update on the European Commission’s e-commerce sector inquiry and the opening of formal investigations into Qualcomm. We also continue to follow development in the world of standard essential patents, reporting here on the CJEU ruling in an ongoing Huawei v ZTE dispute.

13 August 2015

Priority at the EPO

An EPO Board of Appeal has referred questions relating the right to claim priority to the Enlarged Board of Appeal.  The questions relate to whether a claim can be entitled to “partial priority” where different parts of a claim have different priority dates.  Currently the EPO’s view is this is only possible where a claim explicitly references alternatives and only some of those alternatives are disclosed in a priority-founding application.  However, the Enlarged Board are now being asked to decide whether a claim which covers a number of alternatives which are not explicitly claimed can be entitled to partial priority.

13 August 2015

Corporate

Small Business, Enterprise and Employment Act 2015 – corporate aspects

The Small Business, Enterprise and Employment Act 2015 ("Act") received Royal Assent on 26 March 2015 and is currently due to be implemented in stages over the next 15 months.  The Act covers a wide range of matters, but of interest to all companies will be the provisions designed to enhance the trust and transparency of UK businesses and changes to the filing regime designed to improve the quality of information on the public record and reduce unnecessary red tape.

12 August 2015

Corporate

Overseas counterparties – how can they sign and will they be bound?

After spending many hours negotiating the terms of a contract, it is easy to leave the signing practicalities until the last minute.  Yet short cuts when dealing with signing requirements can undermine the entire agreement.  The Court of Appeal has recently considered whether an overseas company was bound by a contract signed by only one authorised representative – a case highlighting the importance of obtaining local legal advice when dealing with overseas counterparties, even if the agreement is governed by English law.

12 August 2015

Corporate

On the radar: items for the agenda - Summer 2015

We pick out some key legal developments on the horizon, including a proposed new requirement for larger organisations to publish a slavery and human trafficking statement, seen by the Government as a ground-breaking measure in its Modern Slavery Act 2015. The Government is also moving ahead with measures to help combat late payment practices by larger companies and to require larger employers to publish information on their gender pay gap. We finish with news that French subsidiaries of companies in the UK and other EU territories may be able to take steps to claim a refund if they have paid the French 3% tax on distributions, with a 31 December 2015 deadline for some claims. 

12 August 2015

Corporate

Trust and Transparency: an overview of the provisions relating to directors

The Small Business, Enterprise and Employment Act 2015 ("Act") contains a number of provisions relating to directors.  Some of the changes, for example the proposed ban on corporate directors, are part of the Government's drive for transparency in corporate management and control.  Others, such as the ability of the court to disqualify a director following misconduct abroad and putting the legal duties of shadow directors on the same footing as those of appointed directors, are designed to increase trust in UK companies by improving the accountability of directors for misconduct.  The key changes include the following.

12 August 2015

Corporate

Filing: an overview of the changes due in force during 2015

The Small Business Enterprise and Employment Act 2015 ("Act") introduces new provisions into the Companies Act 2006 requiring the Registrar not to disclose the ‘day’ element of the date of birth of directors and of individuals on the PSC Register.  The month and year of birth will still be publically available.  The change aims to minimise the risk of personal information on the register being used to perpetrate identity theft and fraud.

12 August 2015

Corporate

Filing: overview of the move from annual return to confirmation statement

When the last Government embarked upon its 'Red Tape Challenge', one of the proposals was to simplify companies' filing requirements. All companies are currently obliged to file a return annually with the Registrar of Companies giving detailed information in relation to the company, its shareholders, directors and share capital.  However, in many cases this simply duplicates information filed previously, either in earlier annual returns or in event-driven filings made to record changes made by the company during the year. 

12 August 2015

prev set

prev

next

next set