Latest Articles

Contract/Commercial Fraud/White Collar Technology

D’Aloia v. Persons Unknown & Others: Victim of Crypto-Fraud Fails in Claim Against Crypto Exchange

In D’Aloia v. Persons Unknown & Others,[1] the High Court of England and Wales dismissed a claim brought by the victim of a crypto-scam against Bitkub, one of the exchanges with whom the fraudsters were alleged to have held their accounts.

This is the first judgment following a full contested trial on some fundamental points regarding the status and treatment of cryptocurrency and the potential liability of exchanges to victims of crypto-frauds. The lengthy judgment traverses a number of complex issues, confirming the rights attaching to tether (USDT) as a cryptoasset, as well as the application of trust and tracing principles in crypto-disputes.

Civil Procedure Class Actions

Hammon v. UCL: Group Litigation Order Denied in Favour of English Court’s Case Management Powers

In David Hammon and Others v. University College London[1], the High Court of Justice found that the threshold requirements for making a group litigation order (GLO) had been met but decided that the court’s general case management powers would be more appropriate to manage the claims, rather than a GLO.

The case emphasises important questions about the future of GLOs as a mechanism for group litigation in a landscape where class actions are on the rise.

Contract/Commercial

Court of Appeal Provides Comfort to Lenders on Default Interest Clauses

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.

Arbitration

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 …

Civil Procedure

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 …

Civil Procedure

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 …

Technology

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”.