Our second one-day summit dedicated to banking disputes and regulatory actions returned in February with a host of sponsors, speakers and more than 150 guests in central London. Backed by a string of top names in contentious banking work, including headline sponsor White & Case, as well as Freshfields Bruckhaus Deringer, Boies Schiller Flexner, One Essex Court and Norton Rose Fulbright (NRF), the event was guaranteed a heavyweight line-up.
There was no mistaking the core theme for the day, which White & Case banking disputes chief John Reynolds set out in his opening remarks. Arguing that cultural issues sat at the heart of the global financial crisis over a decade ago, Reynolds gave a jaded assessment of the progress since, despite the string of post-crisis reforms, like the Senior Managers Regime, ringfencing and legislation on bonuses. Continue reading “Financial Regulation – Increased focus on culture raises question: is everything OK?”
‘Gone are the days where the client would just default to a certain adviser because that is who it has used all along,’ says Signature Litigation partner Daniel Spendlove. ‘Corporates, especially one-off distressed clients, are thinking about who they use carefully and that puts firms like ours in a strong position.’
Boutiques have been a striking feature of the disputes landscape for more than a decade. The rhetoric extols the virtues of the stripped-back model, unconstrained by the extra overheads that come with having multiple practice areas, and the conflict-free feature allows full-service firms to feel confident in referring disputes work to non-competitors. ‘What clients get is a focused offering. We’re not cross-selling other departments. We are simply here to handle a case,’ adds Spendlove. Continue reading “Still punching – Can boutiques keep moving up a weight class amid mounting competition?”
‘Arbitration is the Savile Row of dispute resolution. It’s not the M&S off-the-rack suit, you can create a bespoke arbitration clause that does almost anything you want it to do,’ said Kenneth Beale, an arbitration partner at Boies Schiller Flexner in London. Is it then any surprise that financial institutions are increasingly opting to use arbitration for dispute resolution?
Beale was one of a host of top names speaking at Legal Business’ 2019 International Arbitration Summit in November when he made that comment, setting out how much things have changed in the financial services sector in recent years. Continue reading “Arbitration – ‘There’s a new generation coming’”
Criminal investigations aside, the rise of cyber crime and forum shopping means the UK is a perennially popular location for resolving civil fraud disputes. Dominic Carman reports
According to the Crime Survey for England and Wales, fraud offences now constitute nearly half of all recorded crime. Last year they increased by 9% to breach the four million mark, although the survey suggests that fewer than 20% of frauds are ever reported. Simultaneously, organisations that investigate large-scale fraud, such as the National Crime Agency and the Serious Fraud Office, are routinely regarded by commentators as underfunded, understaffed and – at times – unable to cope. Continue reading “Market Report: Fraud – Sleight of hand”
Despite efforts to minimise the level of construction disputes, adjudication, litigation and arbitration are all flourishing. Dominic Carman reports
While there are many relevant statutes and a significant body of case law, construction disputes benefit from having a single overarching piece of legislation: the Housing Grants, Construction and Regeneration Act 1996, commonly known as the Construction Act. In some recent decisions, judges have increasingly endeavoured to broaden the ambit of the act, which was last amended in 2011, to capture a wider range of construction activities as the sector continues to recover from a turbulent political period. Continue reading “Market Report: Construction – Building a case”
With global hubs fighting to attract big-ticket IP disputes, the London courts are facing a tougher challenge than they are used to. Dominic Carman reports
IP litigation continued apace in 2019 with a multiplicity of disputes. ‘Unlike everything else in relation to Brexit, certainly in the life sciences space and in patent litigation, things carried on pretty much as normal and we had quite a lot of cases,’ says Charlotte Weekes (pictured), contentious IP partner at Pinsent Masons. ‘People talk about some jurisdictions being pro-patentee or pro-challenger: the UK courts seem fairly well balanced.’ Continue reading “Market Report: Intellectual Property – A delicate balance”