LK Blog

High Court Hands Down Wide Ranging Judgment Concluding Long Running Proceedings in the Burnden Litigation

On 19 June 2019, Zacaroli J handed down a judgment concluding the long running proceedings brought by Burnden Holdings (UK) Ltd (“BHUK”) and its liquidator against two former directors, Mr and Mrs Fielding (the “Fieldings”), in respect of a grant…

Caroline Mattin

High Court Confirms that the Corporations Act Priority Scheme Applies to Insolvent Corporate Trustees

Section 433 of the Australian Corporations Act 2001 (Cth) (Corporations Act) provides that, in respect of property subject to a circulating security interest, payment of certain debts has a priority over others.  One category of debts which has priority is…

Allie Umoff

Interim Relief in Aid of Arbitral Proceedings: Mutual Assistance between Mainland Chinese and Hong Kong Courts

The Arrangement Concerning Mutual Assistance in Court-ordered Interim Measures in Aid of Arbitral Proceedings by the Courts of the Mainland and of the HKSAR (the “Arrangement”), signed by the Mainland Supreme People’s Court (the “SPC”) and the HKSAR Department of…

Brooke Holden and Jenna Yuen

Hong Kong Court of Appeal Looks to English and Australian Case Law on the Test for Setting Aside Judgments Obtained by Fraud

The Hong Kong Court of Appeal in Mayer Corp Development International Ltd v Alliance Financial Intelligence Ltd [2019] HKCA 777 (Mayer v Alliance) has addressed the principles applicable to setting aside judgments obtained by fraud. In doing so the Court…

Mark Giddings and India Short

Court of Appeal Takes a Hard Look in the Mirror: the Policy Behind Reflective Loss

The Court of Appeal of the Cayman Islands handed down its decision in Primeo Fund (In Official Liquidation) v Bank of Bermuda (Cayman) Limited and HSBC Securities Services (Luxembourg) SA CICA (Civil) Appeal No. 21 of 2017 on 13 June…

Andrew Tarnowskyj and Seamus Brand

Fraud Trumps Finality: Supreme Court Rejects Due Diligence Requirement in Challenge of Judgment Obtained by Fraud

The United Kingdom Supreme Court has handed down its much anticipated judgment in Takhar v Gracefield Developments Ltd [2019] UKSC 13 (‘Takhar’). The appeal concerned the test for the admission of fresh evidence in a collateral attack on a judgment…

Mark Giddings, Bimaya De Silva and Natasha Wilson-Beddoe

Claims Against Auditors for Negligent Advice: Assessing when the SAAMCO Principle will Apply

A professional is liable in negligence for losses suffered by their client falling within the scope of the professional’s duty. Where the professional provided negligent information or advice relating to a transaction, an issue that often arises is whether all…

Lucas Arnold

The Good, the Bad and the Arguable: UK Courts Give Guidance on the Test of ‘Good Arguable Case’

In cross-border litigation the plaintiff must obtain the court’s permission to serve out of the jurisdiction by showing that its claim comes within one or more of the jurisdictional ‘gateways’ listed in [3.1] of Practice Direction 6B. The test which…

Mark Giddings

Fraud Unravels Everything: The Test for Admission of Fresh Evidence in an Action to Rescind a Judgment Obtained by Fraud

Lord Denning in Lazarus Estates Ltd v Beasley [1956] 1 QB 702 famously said, “Fraud unravels everything. The court is careful not to find fraud unless it is distinctly pleaded and proved; but once it is proved, it vitiates judgments,…

Mark Giddings, Bimaya De Silva and Natasha Wilson-Beddoe

The Influence of Canada’s Livent Litigation on Audit Negligence Cases

The Livent litigation, which has received significant attention in Canada and elsewhere, came to a close on 20 December 2017 when the Supreme Court of Canada handed down its decision in Deloitte & Touche v Livent Inc [2017] 2 SCR…

Andrew Tarnowskyj and Mark Giddings
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