Lehman bank units set for sale or closure September 2, 2010 LEHMAN Brothers Holdings, the bankrupt US investment bank, needs at least $550m (£357.4m) to keep its two bank units going as it prepares to sell them or shut them down in 18 months, court documents show. Lehman asked a Federal bankruptcy court judge in Manhattan yesterday to approve the capital commitments and sale plans, which [...]
The pioneers of third-party litigation look for a market November 9, 2010 IN his landmark Review of Civil Justice Costs published earlier this year Lord Jackson devoted a whole chapter to the nascent market in third-party litigation funding, the practice where funders are prepared to back legal claims in exchange for a share of the spoils. This has been historically regarded by courts as unlawful, but Jackson [...]
Record travel numbers for Eurotunnel September 6, 2010 EUROTUNNEL enjoyed a record summer this year, after car traffic rose 17 per cent on last year with more than half a million cars taking the trip between Kent and Calais in July and August. The French company, which trades on the London and Paris stock exchanges, said it broke its previous passenger record on [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 2, 2010 FINANCIAL TIMES ITV BLAMES REGIME FOR NEED TO CHASE RATINGS ITV could invest more in arts, factual programming and drama were it not for regulations, its managers told a Lords committee. Archie Norman, chairman of the UK’s largest commercial broadcaster, and Adam Crozier, chief executive, told the communications committee that ITV had been driven into [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 2, 2010 FINANCIAL TIMES ITV BLAMES REGIME FOR NEED TO CHASE RATINGS ITV could invest more in arts, factual programming and drama were it not for regulations, its managers told a Lords committee. Archie Norman, chairman of the UK’s largest commercial broadcaster, and Adam Crozier, chief executive, told the communications committee that ITV had been driven into [...]
City should look to international arbitration August 3, 2010 HOGAN LOVELLS FOLLOWING the banking collapse of 2007 there was much speculation that disputes would increase as parties sought legal redress for a range of alleged wrongdoings including mis-selling, professional negligence and breach of contract. It is only now that data is starting to filter through as to whether this speculation was justified. Disputes, however, [...]
DIVORCING COUPLES FACE DAWN RAIDS August 10, 2010 MISCHON DE REYA IN 177 carefully crafted paragraphs the Court of Appeal has rewritten the rules of engagement in matrimonial finance cases. Previously, spouses seeking divorce were permitted a certain amount of leeway when gathering financial information. Put simply, the courts turned a blind eye to one spouse helping themselves to financial information by rummaging [...]
UBS escapes Madoff claims March 4, 2010 INVESTORS who lost money to US swindler Bernard Madoff through a fund set up by UBS cannot seek compensation directly from the Swiss bank, a Luxembourg court ruled yesterday, relieving pressure on UBS. The court rejected the demands of a small group of investors in the LuxAlpha fund looking to file individual claims against UBS [...]
Justice dept to slash £2bn from budget August 10, 2010 THE SCALE of the cuts to hit the public sector were exposed yesterday after the Ministry of Justice (MoJ) said it was planning to slash £2bn from its £9bn annual budget, leading to tens of thousands of job cuts and far fewer prison places. Ann Beasley, the MoJ’s director-general of finance, wrote to senior civil [...]
The period mansion with its own chapel September 2, 2010 IN London, homes with good river views are much sought-after and hard to come by – once you have one, you’re not likely to relinquish it. Homes with 80 metres of uninterrupted Thames frontage, however – not to mention 10 bedrooms and a ballroom – present a very, very rare opportunity for anyone with the [...]