REUTERS | Kevin Lamarque
February 25, 2020

To disclose or not to disclose: the Ramilos restriction on the courts’ Norwich Pharmacal jurisdiction in aid of foreign bank proceedings

In Ramilos Ltd v Buyanovsky, it was held that the statutory regime of the Evidence (Proceedings in Other Jurisdictions) Act 1975 (the 1975 Act) limits the courts’ otherwise inherent jurisdiction to make a Norwich Pharmacal order when it comes to obtaining evidence in aid of foreign proceedings. This restriction, however, is one that in our recent experience may have gone unnoticed by some in the legal profession, even though it has important implications for third parties, commonly banks, who are the recipients of such orders. Continue reading →

REUTERS | Heinz-Peter Bader
February 24, 2020

The expansion of a director’s duty to act in the interests of the company

A director’s duty to act in good faith in the interests of the company is the cornerstone of a director’s position. This long standing obligation was revamped in the Companies Act 2006 with the introduction of a new requirement that directors should have regard to a package of concerns reflecting what has been described as “enlightened shareholder value”. Following the enactment of section 172 of the Companies Act 2006, when determining what is in the interests of the company, directors are required to look beyond the pursuit of profit and consider various factors and third parties stakeholders who could be affected by the decision. Continue reading →

REUTERS | Kim Hong-Ji
February 21, 2020

SRA Code of Conduct: costs implications for solicitors

Skimming through the SRA Code of Conduct for Solicitors introduced in November last year, I am tasked with considering any costs implications thereof. This is not something that I have had to consider before, as knowing there was/is a code, and merely checking the relevant provisions when referenced, would usually have been enough for a costs lawyer (and probably only of limited use even in a Solicitors Act 1974 assessment). Continue reading →