In Lehman Brothers Finance AG v Klaus Tschira Stiftung GmbH  EWHC 379 (Ch), Snowden J was asked to resolve a series of questions concerning the determination of “Loss” following an “Automatic Early Termination Event” under the ISDA Master Agreement (1992 Multicurrency-Cross-border form). The main issues related to the date by reference to which the determination of “Loss”...
Mr Justice Bryan in the Commercial Court has today handed down a wide-ranging judgment in AssetCo plc v Grant Thornton UK LLP  EWHC 150 (Comm). Following a 12 day hearing in June and July 2018, the judgment runs to some 1274 paragraphs. The claim arose out of the admitted negligence of Grant Thornton in relation to audits of the financial statement of AssetCo plc in 2009 and 2010. AssetCo claimed...
The Court of Appeal has today unanimously dismissed an appeal by Manchester Building Society against a judgment of Teare J holding that the Society’s former auditor, Grant Thornton, was not liable for mark-to-market losses incurred by the Society in relation to various long-term swaps. The proceedings arose out of hedge accounting advice provided to the Society by its auditor which was admitted...
One Essex Court is proud to be a Panel Sponsor of the inaugural Legal Business Financial Services Regulation & Disputes Summit, taking place on 7 February 2019 in London. Sonia Tolaney QC and Daniel Toledano QC will be leading a panel session, and David Wolfson QC will be participating in a separate session, covering topics including, “Financial Services Disputes: Where do we go from here?”...
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