Bank Law Blog: International Law

Home -> Law Blog Directory -> International Law Blogs

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

International Law

Bank Law Blog

An idiosyncratic selection of news in the world of English bank law.

Post Frequency: 0.5/day

Last Entry: July 08, 2010 at 09:41:02

Supreme Court allows banks? appeal in test case

Posted on November 25, 2009
So, the lesson is, don’t pay any attention to those words on the street (viz, yesterday’s post). Of course, no lawyer will now admit their surprise but the banks have been successful in the OFT’s test case. The Supreme Court unanimously upheld the appeal by the banks against the decision of the two inferior courts that [...

Bank charges Judgment expected

Posted on November 24, 2009
Judgment in the bank charges case will be handed down tomorrow, Wednesday 25 November. It’s a dangerous game, predicting the outcome of cases that you haven’t been involved in and whose judgments are kept under securely fastened wraps, but I will play it anyway: the word on the street is that the Supreme Court is likely [...

New ? Money Attachment Order

Posted on November 20, 2009
A new form of debt recovery called a money attachment order will come into force in Scotland on 23 November 2009. This guest article, by our Scottish correspondent, looks at how the Orders will work in practice. When a court awards a decree (judgment) for the payment of a debt, Sheriff Officers (Bailiffs) can use a money attachment [...

Living Wills

Posted on November 19, 2009
… or as the Bank of England prefers them to be known, ?recovery and resolution plans?. The FT has an article on these, reporting that Andrew Bailey, head of banking services at the Bank of England (whose signature is printed on bank notes) has listed the elements that would be required in , ooh - dare me! [...

To access this complete feed in the blog feed reader login or register for free.

Financial Services Bill

Posted on November 18, 2009
The Queen delivered the legislative programme for Parliament for the next session this morning in Westminster. There has been huge media interest in the Queen’s speech as the Labour government throws down the gauntlet to its rival parties in the run up to the General Election next year...

New Acts

Posted on November 13, 2009
It has been interesting to watch the progress of bills going through Parliament this month. Both Houses of Parliament officially prorogued on 12 November, marking the formal end to the parliamentary year and will meet again for the State Opening of Parliament on 18 November...

Rescue financing abandoned

Posted on November 11, 2009
The Government have dropped the idea of introducing rescue finance, with super-priority for new lenders to troubled companies, for the time being. The Insolvency Service announced this today in response to the consultation, “Encouraging Company Rescue”...

Emissions trading schemes

Posted on November 10, 2009
Emissions (or carbon) trading is the buying and selling of the right to emit carbon dioxide. It is a growing market, which worries both the Financial Markets Law Committee and Friends of the Earth although they make their arguments from, naturally, very different positions...

Home Repossession (Protection) Bill

Posted on November 09, 2009
The bill has been dropped. I commented on the introduction of this bill in February of this year and the implications for lenders. The bill would have amended the Law of Property Act 1925 to require a mortgagee to obtain the court?s permission before exercising the power of sale on residential property...

Bonuses

Posted on September 29, 2009
Have you seen any serious evidence that bonuses directly led to the financial crisis in the autumn of 2008? I can understand how the argument runs, that if you incentivise traders or bankers on a lowish basic wage with promises of a substantial bonus to take bigger and bigger risks , one day the whole pack of cards [...

?Focus? on CVA

Posted on September 17, 2009
Continuing the trend of retailers who have managed to secure the votes of their landlords for a CVA (JJB, eg), now Focus (DIY) has been the latest company to succeed. CVAs have proved attractively flexible in the past year or so helping companies to avoid more formal administration procedures and restructuring...

Retail Distribution Review ? independence, clarity and fairness

Posted on September 09, 2009
The Financial Services Authority began consultation earlier this summer (2009) on changes it proposes to its Retail Distribution Review. The emphasis is on independence, clarity and fairness in the relationship between adviser and investor. My firm, CMS Cameron McKenna are holding a briefing on RDR and on the FSA after the credit crunch: (how ARROW, Supervision, [...

Limited partnerships ? proving their existence

Posted on September 07, 2009
From the 1 October 2009, banks will be able to rely on a certificate of registration as conclusive evidence of a limited partnership’s existence and registration. The Legislative Reform (Limited Partnerships) Order will clarify the process for registration of limited partnerships by the registrar of companies...

Il Perugino and the Bankers? Guild

Posted on September 04, 2009
Bank Law Blogger has been on a very long summer holiday. Let me tell you about the beautiful fifteenth century Collegio del Cambio in the Italian city of Perugia. This Bankers’ Guild is gloriously decorated. In days when banking was very profitable, local boy Il Perugino frescoed the walls of the Council Room...

Constructive trusteeship in complex restructurings

Posted on July 14, 2009
An Australian restructuring case, despite minor differences of law, has relevance for banks taking security under English law for borrowing from complex corporate structures. The case shows how much care banks should exercise to avoid liability as constructive trustees...

At a recent “round table”,

Posted on June 26, 2009
At a recent “round table”, I gave an overview of legal developments of interest to bank lawyers. Here is a summary: Regulatory Reform Is a perfect maelstrom of activity for obvious reasons, as banks are being handed birch twigs to beat themselves penitentially for not counting the pennies...

Letters of credit ? Guaranteed reimbursement?

Posted on May 13, 2009
Consultation on a product that guarantees reimbursement of UK confirming banks under letter of credit arrangements has started. The Export Credits Guarantee Department seeks views on such a scheme. Export finance has recently become harder to obtain and more expensive...

Limitation periods ? proposals for reform

Posted on May 12, 2009
A bill is to be published later this year that will propose a “primary” 3-year period for contract (and other) claims starting from, broadly, the date on which the claimant knows of the facts which give rise to the action and a “longstop” 10-year period starting from, broadly, the date of accrual of the cause of [...

CVAs: the future?

Posted on May 11, 2009
JJB Sports plc has been the first listed UK company to use a CVA successfully. They have announced that 99% of the retailer’s unsecured creditors had approved a company voluntary arrangement which will facilitate a restructuring of JJB’s business...

Equality Bill

Posted on May 08, 2009
The Government introduced the Equality Bill to the House of Commons on 27 April 2009. The Bill is to strengthen existing equality law and introduce new measures against discrimination. The Bill makes it unlawful to discriminate against someone aged 18 or over when providing services, which will include the provision of financial services...

The Privy Council on ?appropriation? under the FCA Regs

Posted on May 08, 2009
The Privy Council have decided (5 May 2009) that it is not necessary for the person taking security in the form of share charges to become the registered holder of the shares for there to be a valid appropriation within the meaning of “appropriation” in Directive 2002/47 and the Financial Collateral Arrangements (No...

Registration of charges created by overseas companies

Posted on May 01, 2009
The Department for Business, Enterprise and Regulatory Reform (BERR) has published revised draft regulations for the registration of charges created by overseas companies. The Overseas Companies (Company Contracts and Registration of Charges) Draft Regulations 2009...

Lending Regulation Bill - is it or isn?t it?

Posted on May 01, 2009
There is conflicting news about the progress of this Bill. A commercial legal information provider this week reports it as having been withdrawn at its second reading in the Commons. The Parliament website says there was not enough time to complete the debate before the end of the session on 27 February 2009, so it has been [...

Trends in Lending

Posted on May 01, 2009
The Bank of England has begun a new monthly publication that presents the Bank?s assessment of lending to the UK economy. The Bank say, this first report provides a longer-term perspective and is therefore more comprehensive than will be the case for future editions...

Asset Purchase Facility

Posted on May 01, 2009
The BoE has published the first quarterly report on the transactions undertaken through its Asset Purchase Facility. The objective of the Facility was to improve the liquidity in, and increase the flow of, corporate credit by making purchases of high quality private sector assets including commercial paper and corporate bonds...

Co-operative and Community Benefit Societies and Credit Unions Bill

Posted on May 01, 2009
This private member?s Bill received its second reading on 24 April. The Bill is to: make provision for societies to be registered as co-operative or community benefit societies; to re-name the Industrial and Provident Societies Acts; to apply to registered societies the provisions relating to directors? disqualification and to make provision for the application of certain other enactments relating [...

Consultation on the Consumer Credit Directive

Posted on May 01, 2009
The Department for Business, Enterprise and Regulatory Reform have begun the consultation on proposing the transposition of Directive 2008/48 (Consumer Credit Directive) into UK law. The Directive must be implemented by June 2010. It introduces: a duty on the lender to provide adequate explanations about the credit on offer to the consumer; an obligation on the lender [...

Trusts: Perpetuities and Accumulations Bill

Posted on April 30, 2009
This Bill might, if passed, have an impact on any trust arrangements your bank might use. It was introduced to the House of Lords on 1 April 2009 and the second reading was on 28 April 2009. It is based on recommendations made in the Law Commission?s 1998 Report...

Proposals for dealing with troubled companies

Posted on April 27, 2009
The law of corporate insolvency will be changed as indicated by the recent Budget speech (April 2009). Legislation to improve companies’ access to funding is planned. The Insolvency Service will start a consultation in June. The proposals would give viable large and medium sized companies the same opportunity now available to small companies for [...

Symbolic demonstrations

Posted on April 02, 2009
A bank’s windows were smashed yesterday (1st April) in Threadneedle Street, London. 88 people were arrested in protests the police say were mostly peaceful. Today, outside the London Stock Exchange, demonstrators played a giant game of Monopoly with huge crates of fake money...

Previous | Next

Related Law Bulletins

New Baptist Covenant Blog
Last week, I pointed to the New Baptist Convenant website, now onl...

The Mexico Trucker Blog
I've written before about the perceived problems with relaxed rest...