After a number of years of consultation the long awaited Insolvency (England and Wales) Rules 2016 will finally come into effect today. The new regulations aim to provide a modern and concise guide for Insolvency Practitioners and other relevant stakeholders and will consolidate various amendments made to the original rules introduced in 1986. If these intended reforms work, they will [...]
Christopher Philpot, Senior Associate in Teacher Stern’s dispute resolution department, has been interviewed on the BBC’s One Show in relation to a potential claim being organised against both Bank of Scotland and Barclays for compensation relating to Shared Appreciation Mortgages that were sold between 1996 – 1998. The programme was aired on BBC One on Monday 3rd April 2017 at [...]
Section 393 of the Financial Services and Markets “FSMA” Act 2000 provides that, if an FCA warning or decision notice “identifies”, prejudicially, an individual who is not the subject of the notice, that individual must be given the opportunity to respond to the criticism made, before the notice is made public. As prejudicial comments by the FCA can cause significant, [...]
The details of how Bank of Scotland rushed older borrowers into hugely expensive mortgages where their debt rose with house prices have been revealed by a This is Money investigation. Evidence has emerged that the bank - which has previously been criticised for sharp sales practices - hurried customers approaching retirement into signing up to shared appreciation mortgages without financial [...]
This article discusses the recent decision of the High Court in The RBS Rights Issue Litigation  EWHC 3161 (Ch), in which it was held that communications with lawyers and working papers prepared by clients and their lawyers (whether in house or external) for the purposes of obtaining and giving legal advice, will not necessarily be privileged from disclosure if [...]
Congratulations to Rebecca Calver in our Dispute Resolution team who was admitted today. Rebecca joined Teacher Stern as a Qualified Australian Solicitor in October 2014, undertook the Qualified Lawyer Transfer Scheme examinations and has now been admitted as a solicitor in England and Wales.
After an extended period of consultation and drafting the Insolvency (England and Wales) Rules 2016, were published and laid before Parliament on 25 October 2016. The new rules will come into effect on 6 April 2017 and will represent the most significant change to the procedures relating to almost all types of insolvency process since 1986. The underlying primary legislation [...]
Philip Rubens has joined Teacher Stern as a Partner in our Dispute Resolution department. He moved from the respected financial services litigation boutique firm, Cooke, Young & Keidan. Philip has a broad experience, having acted for a range of clients including hedge funds, bankers, senior management and brokers, as well as completing a 6 month secondment to the FSA (now FCA).
On 21 July 2016, an increase in the fees for bankruptcy and company insolvency came into force. The new fees will apply to any petition which is lodged with the Adjudicator or filed with the court on or after 21 July 2016. The new fee structure will also apply to any bankruptcy order or compulsory winding up order made on [...]
Informal contract variation cases are a bit like London buses - you wait years for one and then you get a convoy. Last week's Court of Appeal decision in MWB v Rock has settled the argument. Anti-informal variation clauses do not, as a matter of law, prevent informal variation of contracts. However, that is not quite the same as saying [...]