Damning findings in civil litigation that the directors of London Capital & Finance ran the bonds company as a Ponzi scheme could foreshadow the Serious Fraud Office's parallel criminal investigation into the failed £237 million ($300 million) investment business, lawyers say.
Damning findings in civil litigation that the directors of London Capital & Finance ran the bonds company as a Ponzi scheme could foreshadow the Serious Fraud Office's parallel criminal investigation into the failed £237 million ($300 million) investment business, lawyers say.
The U.K. Supreme Court refused Wednesday to recognize a Russian bankruptcy order against two properties owned by banker Georgy Ivanovich Bedzhamov in Britain, confirming a legal principle that foreign courts do not have jurisdiction over English land.
The English solicitors regulator accused commercial firm Teacher Stern LLP and two partners of effectively providing banking services to two clients by allowing them to transfer money that was not related to an underlying legal transaction or service.
Marsh urged a court Wednesday to maintain an order banning Greensill Bank AG from dragging it into litigation in Australia linked to the collapse of the wider group, arguing that the lender is bound by an English jurisdiction clause in its contract with the insurance broker.
The Competition and Markets Authority censured Prima Insurance on Wednesday for failing to properly explain the costs over more than a year of a policy add-on to thousands of consumers.
The Information Commissioner's Office has beaten a claim by a compliance officer that his manager discriminated against him by trying to sway the outcome of a probe into his alleged misconduct, as a tribunal found there was limited evidence that his allegations were true.
Ireland's Social Democrats are campaigning for this month's general election on a 0.5% tax on individuals' assets over €1 million ($1.1 million) — excluding homes, family businesses, art and pensions — and 1% for assets over €2 million, according to its manifesto.
Britain's competition tribunal issued a ruling Wednesday imposing £69 million ($87.2 million) in fines on Pfizer Ltd. and Flynn Pharma Ltd. for claims they overcharged for an epilepsy drug, after setting aside a decision from enforcers and finding its own violations.
California federal prosecutors unveiled a criminal case Wednesday accusing five alleged members of the "Scattered Spider" cybercrime group of using a phishing scheme to access the confidential data of media and technology companies and steal $11 million worth of cryptocurrency from digital wallets.
The Economic Crime Act's new corporate fraud offense — for which the Home Office recently released guidance — underscores the U.K.'s commitment to hold companies accountable on environmental grounds, and in lowering the bar for establishing liability, offers claimants a wider set of tools to wield against multinational entities, say lawyers at Bracewell.
