High Court dismisses strike-out application in high-profile investor claim

October 28 2019

OMERS Administration Corporation & ors v Tesco Plc; (1) Manning & Napier Fund, Inc. (2) Exeter Trust Company v Tesco Plc Mr Justice Hildyard has today dismissed an application by Tesco to strike out claims for over £700m brought by two groups of institutional investors. The claims relate to Tesco’s profit overstatements, which were revealed in September 2014 and have led to widely-reported...

Commercial Court grants summary judgment to FBN Bank (UK) Limited

October 24 2019

FBN applied for permission to apply for summary judgment (in the absence of an acknowledgment of service or defence) and for summary judgment in its claim for over US$7m under a facility agreement. Jacobs J considered the applicable principles guiding the court’s discretion to grant permission to apply for summary judgment under CPR 24.4.1, and granted such permission, finding that: (1) The defendant...

Commercial Court dismisses Yukos auction rigging claim

October 17 2019

Yukos Finance B.V. and Others v Lynch and Others [2019] EWHC 2621 (Comm) The High Court has dismissed a claim for up to £35 million brought by the former management of Yukos Oil Company against five individuals who were alleged to have colluded with the Russian state to rig an auction of a valuable Yukos subsidiary, Yukos Finance BV.  The claim was governed by Russian law.  Sebastian...

One Essex Court sponsors English Law Week in Russia 2019

October 16 2019

One Essex Court is proud to be a Session Sponsor of the English Law Week in Moscow and St Petersburg, taking place from 11-14 November 2019, and is pleased that two members of Chambers will be speaking at sessions during the event. Organised by The Bar Council and the Law Society of England and Wales, in partnership with the Russian Federal Chamber of Lawyers, the Moscow Chamber of Advocates, the St...