Natasha Somi

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Public Policy Defence against Foreign Money Judgment Fails

Earlier this month, in Lenkor Energy Trading Dmcc (“Lenkor“) v Puri (“Mr Puri“) [2020] EWHC 1432 the High Court upheld an order granting summary judgment in favour of Lenkor in relation to a debt owed to it by Mr Puri under a Dubai judgment. Mr Puri’s argument that illegality tainting the underlying transaction made enforcement … Continue Reading

Lack of Data Impacts Efforts to Fight Pensions Scams

The Pensions Policy Institute (“Institute“) has said that a lack of comprehensive data on the number and scale of pensions scams, places limitations on the industry’s ability to effectively protect savers. According to the Institute, “victims of pension scams [are] losing more than £80,000 on average.” There is growing concern from the Institute that during the COVID-19 … Continue Reading

Bad Behaviour = Bad for Jobs: Cabinet Office publishes guidance for responsible contractual behaviour during COVID-19

The Cabinet Office has published guidance for contractual parties on what it deems responsible behaviour during COVID-19. The motive being to encourage parties to support the response to the pandemic and protect jobs and the economy, noting that, “bad behaviour will be bad for jobs and will impair our economic recovery.”… Continue Reading

Are internal regulatory compliance reviews relevant to bank misselling claims? Yes, says High Court in first virtual hearing after lockdown

Fine Care Homes Ltd v NatWest Markets plc [2020] EWHC 874 (Ch) concerns a claim for negligence and misrepresentation based on the alleged mis-selling of an interest rate hedging product. The Court recently granted, in part, Fine Care Homes Ltd’s (“Fine Care“) application for specific disclosure against NatWest.… Continue Reading

Cheque please: Law firm sues Barclays over £2.2million PPI cheque bounce back

Payment protection insurance (“PPI“) litigation rumbles on in the continuing matter of Ingenious Legal Ltd v Barclays Bank PLC in the High Court. Manchester-based law firm, Ingenious Legal Ltd (“Ingenious“), which acts for customers in consumer credit cases, is suing Barclays Bank PLC (“Barclays“) for £2.2 million. This is after Barclays cancelled a cheque to … Continue Reading

Business interrupted: the disputes begin

Battle lines are drawn up in the insurance industry as it becomes apparent that insureds and their lawyers are preparing to contest in Court any refusals by insurers to pay out on claims for business interruption (“BI”) and associated losses in the wake of the Government’s COVID-19 lockdown. Group actions are apparently being brought together … Continue Reading

Not a risk worth taking – FCA fines and bans pensions’ advisor

Earlier this month, the FCA fined a former advisory firm director £23,400 for overseeing the transfer of £112m of pension retirement funds in to risky investments. The FCA is concerned about unsuitable advice around pensions’ transfers and this latest action sends another strong regulatory message to the market about the FCA’s “get tough” approach towards … Continue Reading

Lloyd’s of London moves online in response to COVID-19

As one floor closes another (virtual) one opens; 330-year-old specialist insurance market Lloyd’s of London (“Lloyd’s“) has closed its underwriting floors in response to Government guidance regarding the coronavirus pandemic. Last week, the world’s largest insurance hub replaced its four-story “underwriting room” with its electronic trading system, Placing Platform Ltd (“PPL“), which was successfully stress … Continue Reading
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