Though the article and the decision in May and another v Wavell Group Ltd and another contains nods to Queen (the case involves guitarist Brian May), ultimately it relates to Jackson LJ’s vision of proportionality and the differing interpretations that have followed. Continue reading
But what is the answer?
In theory it is straightforward. When the court is fixing costs budgets at a case or costs management conference (CCMC), the 82nd update to the Practice Direction at PD 3E.7.10 tells us: Continue reading
The latest judgment handed down in a swaps misselling case (London Executive Aviation v RBS) represents another victory for the banks. In part, this is an inevitable reflection of the fact that the most egregious examples of misselling will have been settled or, in the case of smaller customers, dealt with under the Financial Conduct Authority (FCA) Review of Interest Rate Hedging Products (IRHPs). But it is also due, as explained in the judgment, to the fact that the courts have mostly rejected claimants’ attempts to expand the limits of banks’ duties of care. In particular, the courts are reluctant to import concepts from the regulatory sphere into the common law. Continue reading