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Results: 1-10 of 14

Contracting out of a fiduciary relationship investment banks and clients

  • Freshfields Bruckhaus Deringer LLP
  • -
  • Australia
  • -
  • August 22 2007

The Australian Federal Court (Court) handed down a judgment on 28 June 2007 that considered whether the terms of a letter of engagement, under which an investment bank was retained by a large public company to advise it on a proposed takeover and including a clause that on its face excluded the existence of a fiduciary relationship between the investment bank and its client, did so successfully

Council sells PFI project equipment free of lender's security

  • Freshfields Bruckhaus Deringer LLP
  • -
  • United Kingdom
  • -
  • January 16 2007

In a recent first instance decision of David Richards J in Re Neath Port Talbot, a local authority was permitted to dispose of certain assets forming part of a failed PFI project even though the financing bank claimed to have a security interest in the assets concerned

Financial Services Bill: collective redress and regulator-led redress

  • Freshfields Bruckhaus Deringer LLP
  • -
  • United Kingdom
  • -
  • December 15 2009

The Financial Services Bill, now being debated in Parliament, contains important provisions relating to consumer redress which, if enacted, would have far-reaching implications for the financial services industry

Substitute tax regime court decision puts some bridge financing structures at risk

  • Freshfields Bruckhaus Deringer LLP
  • -
  • Italy
  • -
  • November 24 2009

It is quite common in the Italian market to structure leveraged buy-out transactions andor real estate finance transactions with a bridge loan and later refinance the bridge facility with a secured long-term facility agreement

China's Supreme People's Court gets tough on credit card crime

  • Freshfields Bruckhaus Deringer LLP
  • -
  • China
  • -
  • February 17 2010

The Supreme People's Court and the Supreme People's Procuratorate announced a judicial interpretation that clarifies several Criminal Law articles concerning credit card fraud

German federal tax court: withholding tax obligation for interest payments under PIK and subordinated loans?

  • Freshfields Bruckhaus Deringer LLP
  • -
  • Germany
  • -
  • December 15 2010

According to a judegement of the German Federal Tax Court, a loan agreement providing that interest payments are due and payable only if the debtor has sufficient liquidity may lead to the consequence that interest payments under the are subject to withholding tax

High Court considers the balance sheet test of insolvency in the context of a securitisation transacion

  • Freshfields Bruckhaus Deringer LLP
  • -
  • United Kingdom
  • -
  • August 19 2010

The recent descision of BNY v Eurosail is an important modern descision on the blance sheet test for insolvency

ECJ rules on application of fairness test to essential contract terms

  • Freshfields Bruckhaus Deringer LLP
  • -
  • European Union, Spain
  • -
  • October 25 2010

The European Court of Justice (ECJ) has recently ruled, in the context of proceedings between a Spanish bank and a Spanish banking services user association, that member states are free to adopt or keep national laws on the fairness of essential contract terms that are stricter that the rules laid down by the Directive on unfair terms in consumer contracts (9313EEC

Court confirms legality of financial market stabilisation

  • Freshfields Bruckhaus Deringer LLP
  • -
  • Germany
  • -
  • April 18 2011

The Regional Court of Munich has recently ruled that the German government's decision to nationalise Hypo Real Estate (HRE) bank was lawful

Supreme Court rules on the scope of the rule against double proof

  • Freshfields Bruckhaus Deringer LLP
  • -
  • United Kingdom
  • -
  • November 11 2011

The Supreme Court’s decision in a dispute over a parent company guarantee will change the way insolvency practitioners deal with the distribution of assets when a corporate group collapses