In Houssein & Others v. London Credit Ltd & Another[1], the Court of Appeal considered the proper application of the common law rules on penalties to a default interest clause in a loan agreement. Contrary to the conclusion of the High Court, the Court of Appeal found that in light of relevant case law, the lender ‘inevitably’ had a legitimate interest in the enforcement of the obligation to repay the loan, which would justify a default interest clause.
Latest Articles
The EU’s General Product Safety Regulation: What’s New?
Our colleagues in the Products team have posted the first in a series of the European Union’s General Product Safety Regulation: The EU’s General Product Safety Regulation: What’s New? – Productwise (cooley.com). This is a substantial update of the current regime and brings increased enforcement and class action risks.
Arbitration Bill Passes Second Reading at House of Lords
After the previous government called a general election in late May, the Arbitration Bill was left out of the set of bills that would be approved on an expedited basis. In mid-July, the King’s Speech reintroduced an updated Arbitration Bill to Parliament’s legislative agenda. The second reading of the Arbitration Bill at the House of Lords took place on 30 July 2024. On 25 July …
High Court Takes Practical Approach to Procedure in Enforcement of New York Court Judgment on Crypto Fraud
Tai Mo Shan Ltd v. Persons Unknown[1] is the latest in a series of cases in which the English courts have demonstrated their willingness to make practical procedural decisions to assist the victims of crypto fraud. In this case, the High Court of England and Wales granted the claimant permission to serve out of the jurisdiction in order to enforce a judgment of a New …
Cross-Border Considerations for Protecting Privileged Evidence
On 6 June 2024, Sascha Grimm from our London office, Teresa Michaud from our Los Angeles office and Jonas Koponen from our Brussels office hosted a webinar on Cross-Border Considerations for Protecting Privileged Evidence. The session explores how to deal with cross-jurisdictional privilege issues that arise, in particular, for organisations with multiple group companies around the world. Sascha, Teresa and Jonas walk through a hypothetical …
Cross-Border Considerations for Protecting Privileged Evidence
On 6 June 2024, Sascha Grimm from our London office, Teresa Michaud from our Los Angeles office and Jonas Koponen from our Brussels office hosted a webinar on Cross-Border Considerations for Protecting Privileged Evidence.
Online Safety Act Update: Ofcom’s Consultation on Measures to Protect Children From Online Harms Closing 17 July 2024
The UK’s Online Safety Act (OSA) imposes extensive obligations on certain types of online service providers to protect users from illegal and harmful content. A key focus of the OSA is the protection of children online, and special obligations are conferred on service providers whose platforms are “likely to be accessed by children”.
Online Safety Act Update: Ofcom’s Consultation on Measures to Protect Children From Online Harms Closing 17 July 2024
Introduction The UK’s Online Safety Act (OSA) imposes extensive obligations on certain types of online service providers to protect users from illegal and harmful content. A key focus of the OSA is the protection of children online, and special obligations are conferred on service providers whose platforms are “likely to be accessed by children”. Under the OSA, Ofcom, the UK’s online safety regulator, is required …
The Dangers of Interfering with Expert Evidence
The recent decision in Glover and Another v. Fluid Structural Engineers & Technical Designers Ltd and Others[1] should serve as a warning to practitioners to pay heed to the strict rules regarding expert evidence and, in particular, not to interfere at all with the production of the joint expert report
UK Competition and Markets Authority Receives Enhanced Merger Control and Enforcement Powers
The Digital Markets, Competition and Consumers Act (DMCC), which became law on 24 May 2024, represents a major shift in UK digital, competition and consumer protection regulation. In particular, the DMCC: