Archives for 2004

Three Rivers: Two steps backwards, one step forward... (29 November 2004)

The House of Lords has handed down its judgment in Three Rivers District Council -v- Bank of England. It had been hoped that this would provide a fundamental review of advice privilege. Edward Coulson looks at the case and assesses the implications for insurers. Please click on the link below to download the newsflash.

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Inversions Issue 2 (19 November 2004)

Welcome to the Second Edition of Inversions!  In this issue:

• Elina Arter looks at conflicts of interest for professionals, including a review of the law on information barriers.
• Simon Durkin and Ian Welland consider the progress of efforts by auditors to cap their liabilities by legislation.
• Misha Nateghi and Jana Ratnajothy review developments in claims relating to financial markets, including hedge funds, deriviatives, CFDs, and PIPEs.
• Paul Cha analyses guidance given in Pilkington v CGU on the meaning and use of the words "Physical Damage" in products and global liability policies.
• Nilam Sharma and Jana Ratnojothy navigate the treacherous path of jurisdiction in the context of international insurance contracts.
• Jason Ford and Amanda Peel give their thoughts on the ongoing McLibel case and the influence of the European Court of Human Rights.
• Paul Dally and Louise Turner suggest ways to challenge CFAs and Success Fees.
• Paul Wragg ponders how and why Employment Law is such front page news at the moment, and why this is having a relatively limited impact on the EPL market.

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Focus West Midlands Winter 2004 Edition: Surveyors' Liabilites (01 November 2004)

As published in the Winter 2004 edition of the RICS magazine, "Focus West Midlands", Steve Oates considers three recent cases impacting on the liabilites of surveyors. These include: - Phillips & Harland v Symos - George Wimpey v VI Components - Montlake v Lambert Smith Hampton With thanks to the RICS for their kind permission to reproduce the article.

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The FSA gets Tough! (02 September 2004)

In 24 August 2004, the FSA imposed the largest financial penalty in its history - Shell was fined ?17m for the first market abuse case based on false and misleading impressions given. The fine arises in connection with what the FSA has termed "unprecedented misconduct." Back in July 2003, our publication entitled "FSA Investigations (everything you wanted to know but were too afraid to ask)" set the scene for an increasingly aggressive and invasive regulatory regime. Now Misha Nateghi and Nilam Sharma ask whether the FSA has finally come of age?

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Posh Crime (25 June 2004)

Almost on a daily basis the press reports yet another incidence of financial crime, and gross fraud by management and/or trusted employees.  Such losses then translate into substantial insurance claims. Misha Nateghi reports on Employee Fidelity and Commercial Crime Policies, and how the UK insurance market is reacting.

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Inversions May 2004 (29 May 2004)

Robin Simon LLP's inaugural newsletter: Inversions. 1 May 2004 marked the first anniversary of the firm of Robin Simon LLP. We felt that we should mark the anniversary by bringing out the first edition of a full-length newsletter.  In this launch issue of Inversions:  

• Stephanie Garnon on causation issues in professional negligence cases
• Faye Hankin on insurance brokers' duties
• Edward Coulson on developments in the law on lawyer / client privilege
• Nicola Blakemore on the mutual fund scandal
• Philip Steel on recent developments in mediation and litigation costs
• Andrew Macleod on Co-Operative Retail Services Limited v Taylor Young Partnership
• Rebecca Ragnauth on the Equitable Life litigation against its non-excecutive directors
• Elina Arter on the Insurance Mediation Directive.

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Are the Shareholders Revolting? (Some Directors may think so) (27 May 2004)

Companies are facing unprecedent scrutiny from their shareholders, who are no longer willing to sit quietly on the sidelines, whilst directors make decisions which affect their investment.  Nicola Blakemore reports:

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Accountants and Rollover Relief - Causation and Common Sense (21 May 2004)

Sarah Mawbey and Andrew MacLeod review Floyd & Ors v John Fairhurst & Co - a Court of Appeal decision handed down on 21 May 2004.   It provides guidance on the approach that Courts should take when dealing with the relatively common occurrence of claims against chartered accountants for failing to advise upon the availability of rollover relief. This newsflash may be of particular interest to liability insurers.

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Human Rights - The Floodgates Close! Marcic -v- Thames Water Utilities Ltd (27 February 2004)

Iain Corbett looks at a property case that we have been following through the Courts for some time.  It was finally decided at the end of last year.  It raises important issues for Insurers including the application of the Human Rights Act, in particular the Right to Protection of Property, as an alternative claim to nuisance.

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Precipice Bonds: Teetering on the Brink? (14 January 2004)

IFAs must be feeling a sense of d?j? vu as another popular and apparently safe investment has come under scrutiny following the collapse of stock market values in recent years. Once again, there is widespread talk of another mis-selling scandal, similar to Pensions and Split Capital Investment Trusts. In this News Flash, Nicola Blakemore looks at the issues surrounding the so-called Precipice Bonds.

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