This appeal involved a relatively narrow issue. The Supreme Court had to decide not whether the banks’ charges for unauthorised overdrafts were fair but whether the OFT could launch an investigation into whether they were fair. At present, banks provide retail banking services on the basis that customers whose accounts are kept in credit (in other words who lend money to the banks) will not be...
Laurence Rabinowitz Q.C. – Banking & Finance – Silk of the Year Widely recognised as one of the leading silks at the Commercial Bar, Laurence Rabinowitz’s practice goes from strength to strength. ‘Exceptionally calm under pressure’ and possessing the ‘capacity to absorb immense amounts of pressure without visible strain’, allied with an ‘incisive,...
On 18 August 2009, in a dispute between two of the world’s largest breweries (SABMiller Plc and Diageo Plc) over beer distribution in Tanzania, Mr Justice Christopher Clarke of the Commercial Court in London granted an injunction which restrains East African Breweries Limited (“EABL”) (a subsidiary of Diageo Plc) from purchasing Serengeti Breweries Ltd (“SBL”), Tanzania's...
On 6 May 2009, Mr Justice Flaux of the Commercial Court handed down judgment allowing a fraud claim by a trader against the UK office of MF Global Ltd, the investment brokers formerly known as Man Financial Ltd. Damages for loss of trading capital and loss of profits are likely to be assessed in the region of £20 million. The claim related to a period in 2001/02 in which Tangent traded through...
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