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Archive: February 2021

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“Unambiguous impropriety” exception to without prejudice privilege

February 26, 2021

In Motorola Solutions Inc and another v Hytera Communications Corp Ltd [2021] EWCA, the Court of Appeal overturned a $345m freezing injunction which it held was based on inadmissible statements made during without prejudice (WP) settlement meetings.

Cross-undertakings for security for costs and litigation funders

February 18, 2021

In a shift from a line of first instance decisions, the recent Court of Appeal decision in Rowe & Ors v Ingenious Media Holdings PLC & Ors [2021] EWCA Civ 29 (Rowe) has narrowed the circumstances in which a defendant may be required to provide cross-undertakings in damages as a condition of an order for security for costs to “rare and exceptional” cases.

What does “fair value” mean in the context of a forced buy-out?

February 11, 2021

In the recent case of Re Euro Accessories Ltd [2021] EWHC 47 (Ch), the company’s majority shareholder, Mr Gilsenan, had amended the company’s articles of association to enable him to purchase the shares held by the minority shareholder (Mr Monaghan) at “fair value”.

P.R.I.M.E Finance begins public consultation on draft revised Arbitration Rules

February 08, 2021

The Panel of Recognised International Markets Experts in Finance (P.R.I.M.E. Finance) has announced a public consultation on its draft revised Arbitration Rules (the Rules).

LIBOR discontinuation, tough legacy contracts and the legislative solution - where are we now?

February 01, 2021

With the introduction of the Financial Services Bill (the FS Bill) into Parliament in October last year and regulated firms working hard towards transitioning away from LIBOR by end 2021, this post focuses on the FCA’s proposed new powers to address so-called “tough legacy” contracts.