Legal News

Crestline Direct Finance LP v Insurance Company Euroins AD [2026] EWHC 423 ( TCC) What are the practical implications of the case? This decision highlights two pragmatic takeaways for lawyers and construction practitioners. First, it underscores the need to craft, from day one, a coherent assignment plan and to implement and record it correctly. Employers should see that building contracts and security instruments (including performance bonds) confer adequate rights of assignment, state any cap on the number of assignments, and name likely assignees (such as funders or prospective buyers/tenants). Each assignment must be executed in the agreed form and notified to all relevant stakeholders (for instance, the contractor or the surety). Adhering to these steps will make it simpler for assignees to call on bonds and will avert the sort of ‘fatal’ uncertainty encountered in this case. Secondly, the court...

Mergers The Commission authorised the acquisition that confers Petróleo Brasileiro S. A. joint control of Braskem S. A....

See Q& A: If executors are administering an estate where a property is being gifted to a specific beneficiary, what are the duties of the executor regarding the safeguarding and maintenance of the property? Executors must protect and look after any property earmarked for a named beneficiary, preserving it and its condition, until legal title is passed over to them......

Where are we now with AI and copyright law in the UK? The discussion around copyright and AI has moved forward with the release of two significant UK policy papers. To start, on 6 March 2026, the House of Lords Communications and Digital Committee issued its study on AI, copyright and the creative sectors (the ‘ Ho L Report’). Then, on 18 March 2026, the government unveiled the Report on Copyright and Artificial Intelligence (the ‘ Consultation Report’), alongside an economic impact assessment (the ‘ Impact Assessment’). These latter papers appeared under sections 135 and 136 of the Data ( Use and Access) Act 2025 ( DUAA 2025). Curiously, DUAA 2025 became the stage for the so‑called ‘ Kidron amendment’—measures tabled by Baroness Kidron requiring the government to declare its stance on the outcome of the consultation on copyright and AI held between...

What is LGR? Government data indicates that roughly one third of England’s population—about 20 million people—live in areas run by a two-tier arrangement, with duties divided between county and district councils. According to the government, this set-up can introduce complexity: decision-making is spread across several bodies, services are delivered in a less integrated way, and effort is duplicated. It can also leave residents uncertain about who is responsible for local services. LGR describes the reorganisation of local authorities and may involve moving from a two-tier system (separate county and district councils with different remits) to a unitary model, where one authority undertakes all those functions. The government’s current LGR plans are closely connected to its devolution agenda, aligning council restructuring with the creation of combined authorities or combined county authorities, often with directly elected mayors. The objective is to rationalise current...

Financial services developments FCA keeps restrictions in place on Bazar Money Transfer Limited The Financial Conduct Authority ( FCA) has issued a second supervisory notice keeping restrictions on Bazar Money Transfer Limited ( BMTL) under the Payment Services Regulations 2017 ( PSRs), finding the firm no longer satisfies criteria for registration as a small payment institution and presents risks to consumers. According to the FCA, its first supervisory notice in November 2025 arose because the firm appeared to have been operating an unregistered cryptoasset business, contrary to Regulation 56 of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 ( MLRs) and Regulation 14 of the PSRs; failed to act in an open and co‑operative manner with the regulator as required by Principle 11 of the FCA’s Principles for Business; and supplied information that seemed inaccurate or misleading. The latest notice records that the FCA has...

A17- D17 [2026] ADGMCFI 0008 What are the practical implications of this case? The ruling has significance in three principal respects. First, it makes clear that an award debtor cannot secure a stay in the ADGM merely by claiming an intention to contest the award at the seat. There must be an actual application, a cogent account for any delay, and a genuine chance both of winning any extension of time and of prevailing on the merits. That point matters for enforcement planning: a bare threat of a s 68 challenge in England is, by itself, unlikely to halt ADGM enforcement. Second, the judgment offers important guidance on confidentiality and the permissible use of information. Smith J regarded post-award enforcement as sufficiently linked to ‘this claim’ for the purposes of an information undertaking in a worldwide freezing order, permitting use of that material without...

Vanbo Investments Pte Ltd v ph AG [2026] SGHC 65 What are the practical implications of the case? Pin down the governing jurisdiction clause at the start, right at the outset, without delay, early too. For transactions spread across several contracts, each with its own dispute resolution term, the operative provision turns on the dispute’s ‘pith and substance’—the agreement most closely tied to the claims actually advanced. If the parties meant one clause to regulate the relationship as a whole, a primacy provision (here, a Term Sheet term stating that the Shareholders’ Agreement prevails in any inconsistency) is decisive. Where an exclusive jurisdiction clause applies, the ‘strong cause’ standard is engaged. The case underscores that, once such a clause is operative, the controlling inquiry is whether ‘strong cause’ exists to refuse a stay. The threshold is exacting—mere inconvenience and unfamiliarity with foreign law do not suffice, especially where these were...

Original news Mr L on behalf of the estate of Mr O ( CAS-89142- L1R8)—18 November 2025 Summary The Pensions Ombudsman dismissed a complaint concerning recovery of a winding-up lump sum. The complainant had agreed to the offer of a winding-up lump sum, but died before payment was made. The estate was required to return the amount because, under the Finance Act 2004 ( FA 2004), a winding-up lump sum is payable only to a member and no defences to repayment were available. The matter underscores the need for pension schemes to carry out regular, ongoing mortality screening. What were the facts? Mr O was a member of the Old British Steel Pension Scheme (the Scheme). Mr O passed away and was represented by his executor, Mr L......

Nicholson and another v Insolvency Practitioners Association and others [2026] EWHC 686 ( Ch) What are the practical implications of this case? Every IP is required to obtain a bond (an IP bond) that protects against losses arising from their own fraud or dishonesty. Typically, the IP’s RPB is named as beneficiary, meaning it is the party with standing to pursue a claim where the IP’s fraud or dishonesty causes loss to an insolvent estate. Following Nicholson v IPA, if a successor IP suspects their predecessor inflicted loss on the insolvent company through fraud or dishonesty, the RPB can now be compelled to assign the IP bond to the incoming IP so that the surety can be pursued. The RPB need not first determine that its member acted dishonestly. Nor will it, in general, need to worry about a public law challenge to a...

Factor (as liquidator of Sweetland Ltd (in liquidation)) v Haddad and others [2026] EWHC 410 ( Ch) What are the practical implications of this case? As with many matters of this sort, this decision starkly illustrates how litigation can unravel when a party treats disclosure casually, rather than with the gravity and diligence it deserves. Liquidators often bring proceedings against those who previously managed the company, and many defendants appear without representation. That reality neither explains nor justifies reckless, let alone deliberate, disregard for the rules governing litigation. Every party—and especially insolvency practitioners who, like solicitors, act as officers of the court—must not only understand and observe procedural requirements but also, when called upon, deal with the court with honesty, candour and complete frankness. What was the background? Sweetland Ltd owned and ran a Lebanese bakery. It was a family enterprise operated by three brothers together with Mr...

EU financial services developments Market abuse: Commission adopts regulation on closed periods, the mechanism to exchange order data, and indicators of market manipulation The European Commission has adopted a draft Commission Delegated Regulation amending Commission Delegated Regulation ( EU) 2016/522 with respect to permission for trading during closed periods, register of designated trading venues that have a significant cross-border dimension in the supervision of market abuse, and the indicators of market manipulation. The revisions are intended to strengthen the capacity of competent authorities to detect market abuse and enforce market abuse rules in an increasingly integrated and complex trading landscape. The Delegated Regulation will enter into force on the twentieth day following its publication in the Official Journal of the EU......

What challenges do deepfakes present for celebrities and people in the public eye? For those in the spotlight, the surge of deepfakes—and figuring out how to prevent the exploitation of their image—has become increasingly acute as generative AI and broader technologies evolve at pace. The pressure is sharper in the UK, where the absence of a codified privacy regime or recognised image rights means individuals must piece together protection from a mosaic of statutory and common law claims to restrain unauthorised uses of their likeness. Among the registered tools being deployed to counter deepfakes are trade marks: a host of well-known figures have secured figurative marks of their faces to exert some control over how their profile and image are used. Historically, people have turned to actions such as passing off and defamation. Yet the real effectiveness of trade marks in this context is still...

See: Overview: Liability Management Exercises ( LMEs) Challenging Liability Management Exercises For a summary of the types and procedures associated with informal restructuring tools, consult: Informal restructuring tools—overview. For common questions on LMEs, refer to Practice Note: FAQs on Liability Management Exercises......

Summary The Deputy Pensions Ombudsman has partly upheld a complaint concerning inaccurate benefit information. The complainant argued that she had been provided with inaccurate projections of her pension and, in reliance upon those figures, she sustained financial loss. The Deputy Pensions Ombudsman found it was unreasonable for her to place reliance on the estimates, as they were plainly wrong. She was also found to have no financial loss, since her existing debts were not caused by the erroneous estimates and therefore did not amount to compensable loss. This case serves as a reminder that reliance on incorrect statements must be reasonable. What were the facts? Mrs K belonged to the NHS Pension Scheme (the Scheme). She received several benefit estimates from her employer between July 2018 and May 2020......

This News Analysis reviews the Commission’s draft regulation creating a corporate legal framework for EU Inc (the ‘ Proposal’), considered in light of President von der Leyen’s statement of 18 March 2026 (see LNB News 18/03/2026 53). It explores the legal and practical consequences of introducing an optional, harmonised corporate regime intended to cut fragmentation, promote cross-border expansion and strengthen the EU’s competitiveness. The core company-law elements of the Proposal are set out, notably concerning the allocation of matters between the proposed regulation and any residual national law, the digital incorporation and corporate governance of EU Inc companies, and the departure from minimum share capital rules towards an alternative model of creditor protection. What legal problem is the proposed 28th regime trying to solve, and why has the Commission chosen an optional EU Inc model ? The EU Inc is conceived as a...

See Practice Notes: Victoria PLC— LME deal recap (uptiering) Selecta Group— LME deal summary (hybrid uptiering) For a concise synopsis of the types and procedures of informal restructuring tools, refer to Informal restructuring tools—overview. For common questions on LMEs, please consult Practice Note: FAQs on Liability Management Exercises......

Competition policy Government announces Sir Ian Cheshire as preferred candidate for Ofcom Chair The Department of Science, Innovation and Technology ( DSIT) has named Sir Ian Cheshire as the government’s preferred choice to take over from Lord Michael Grade as Chair of Ofcom, with Lord Grade’s tenure due to conclude in April 2026. The DSIT noted that Sir Ian brings broad experience spanning the public and private spheres, most recently chairing Channel 4......

Re Esken Ltd ( Overseas Company Number FC041629) [2026] EWHC 495 ( Ch) What are the practical implications of the case? The judgment confirms that insolvency practitioners can adopt a straightforward route when moving a company with an overseas registered office, but a UK COMI, from administration to liquidation: file a notice at Companies House under IA 1986, Sch B1, para 83, then apply to the court for confirmation pursuant to IR 2016, SI 2016/1024, r 21.4. In these circumstances, post- Brexit creates no obstacles and there is no inconsistency with other provisions of the IA 1986. Nonetheless, the court voiced reservations about the jurisdiction to place an unregistered company into voluntary winding up under the Retained EU Regulation in different scenarios, in light of IA 1986, s 221, potentially leaving a post- Brexit issue to be determined in other...

Original news Mrs N ( CAS-83019- G2S0)—25 November 2025 Summary The Deputy Pensions Ombudsman dismissed a grievance alleging that unduly onerous transfer conditions were imposed on a member who wished to move benefits to a Qualifying Overseas Pension Scheme ( QROPS). The ceding scheme required both a UK opinion and an overseas opinion before it would progress the transfer. The Deputy Pensions Ombudsman concluded that this was a reasonable and proportionate measure for the scheme to adopt as a pre‑condition to any transfer. The outcome illustrates the practical obstacles trustees face when asked to facilitate a QROPS transfer—particularly where the legislation provides no clear direction on the nature of the evidence trustees should obtain. What were the facts? Mrs N was a member of the SCA UK Pension Plan (the Scheme)......