(1) HAYFIN OPAL LUXCO 3 SARL (2) HAYFIN TOPAZ 3 SCA v (1) WINDERMERE VII CMBS PLC (2) US BANK TRUSTEES LTD (3) ELAVON FINANCIAL SERVICES LTD (2016)

The court interpreted contractual documents in a commercial mortgage-backed securitisation structure and rejected a claim by class X note holders that they had suffered historical underpayment of class X interest. The court was required to determine the rights attached to loan notes held by the claimant and issued by the first defendant under a commercial … Continue reading (1) HAYFIN OPAL LUXCO 3 SARL (2) HAYFIN TOPAZ 3 SCA v (1) WINDERMERE VII CMBS PLC (2) US BANK TRUSTEES LTD (3) ELAVON FINANCIAL SERVICES LTD (2016)

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TRANSOCEAN DRILLING UK LTD v PROVIDENCE RESOURCES PLC (2016)

The language of an exclusion clause made between commercially equal parties was clear in excluding liability for consequential losses in the form of "spread costs". Freedom of contract meant the court had been wrong to impose a restricted construction on the clause where the parties had agreed that neither should be liable to the other … Continue reading TRANSOCEAN DRILLING UK LTD v PROVIDENCE RESOURCES PLC (2016)

CPL LTD v CPL OPCO (TRINIDAD) LTD (2016)

The claimant applied for permission to add an additional defendant to its claim and to re-amend the particulars of claim to make a claim against that party. The claimant was the originator of a cricket league staged in the West Indies. The defendant, a company incorporated in Trinidad and Tobago, had been set up for … Continue reading CPL LTD v CPL OPCO (TRINIDAD) LTD (2016)

JANUS CAPITAL MANAGEMENT LLC v SAFEGUARD WORLD INTERNATIONAL LTD (2016)

The claimant investment management company (J) claimed that the defendant payroll company (S) was in breach of contract. In the alternative, J made claims for breach of fiduciary duty and breach of duty of care. J was based in the US but had employees in several different countries. S provided international payroll processing services to … Continue reading JANUS CAPITAL MANAGEMENT LLC v SAFEGUARD WORLD INTERNATIONAL LTD (2016)

JAPAN MPV MOTORS LTD v REVENUE & CUSTOMS COMMISSIONERS (2016)

Where a car dealership accepted the return of a car from a customer on the ground that it was defective, and agreed to supply a different car at a future time, the date of the original sale was not the point of supply for VAT purposes. VAT was a tax on turnover generated from the … Continue reading JAPAN MPV MOTORS LTD v REVENUE & CUSTOMS COMMISSIONERS (2016)

ENNISMORE FUND MANAGEMENT LTD v FENRIS CONSULTING LTD (2016)

A hedge fund appealed against a decision of the Court of Appeal of the Cayman Islands that it was not entitled to "claw back" bonus fees it had paid to the respondent fund manager (F). The hedge fund had employed F under a consultancy services agreement which required it to provide investment advice and to … Continue reading ENNISMORE FUND MANAGEMENT LTD v FENRIS CONSULTING LTD (2016)

OZLEM KUPELI & ORS v (1) KIBRIS TURK HAVA YOLLARI SIRKETI (T/A CYPRUS TURKISH AIRLINES) (2) ATLASJET HAVACILIK ANONIM SIRKETI (2016)

The court was required to determine issues in relation to costs following a claim for damages brought by the claimant passengers against the defendant airline.   The passengers had sought to recover damages for breach of contract or compensation following the airline's failure to provide them with replacement flights after another airline's operator's certificate was … Continue reading OZLEM KUPELI & ORS v (1) KIBRIS TURK HAVA YOLLARI SIRKETI (T/A CYPRUS TURKISH AIRLINES) (2) ATLASJET HAVACILIK ANONIM SIRKETI (2016)