Bank

30 June 2016

Issue: 7705 / Categories: Case law , Law digest , In Court

BNY Mellon Corporate Trustee Services Ltd v LBG Capital No 1 Plc and another [2016] UKSC 29, [2016] All ER (D) 89 (Jun)

The Supreme Court dismissed the appeal of the trustee for the holders of £3.3bn of enhanced capital notes (ECNs) against a decision that the ECNs were redeemable. In so doing, it held that a “capital disqualification event” had arisen, as defined in the terms and conditions of the trust deed.

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MOVERS & SHAKERS

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Gilson Gray—Linda Pope

Partner joins family law team inLondon

Jackson Lees Group—five promotions

Private client division announces five new partners

Taylor Wessing—Max Millington

Banking and finance team welcomes partner in London

NEWS

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NLJ this week: Motor commissions & fiduciary duties

The landmark Supreme Court’s decision in Johnson v FirstRand Bank Ltd—along with Rukhadze v Recovery Partners—redefine fiduciary duties in commercial fraud. Writing in NLJ this week, Mary Young of Kingsley Napley analyses the implications of the rulings

NLJ this week: The power of Interpol red notices

Barristers Ben Keith of 5 St Andrew’s Hill and Rhys Davies of Temple Garden Chambers use the arrest of Simon Leviev—the so-called Tinder Swindler—to explore the realities of Interpol red notices, in this week's NLJ

NLJ this week: Approach with caution post-Mazur

Mazur v Charles Russell Speechlys [2025] has upended assumptions about who may conduct litigation, warn Kevin Latham and Fraser Barnstaple of Kings Chambers in this week's NLJ. But is it as catastrophic as first feared?

Philip Sales is selected as next Deputy President

Lord Sales has been appointed to become the Deputy President of the Supreme Court after Lord Hodge retires at the end of the year

Tax shock ahead for partners?

Limited liability partnerships (LLPs) are reportedly in the firing line in Chancellor Rachel Reeves upcoming Autumn budget

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Bank

MOVERS & SHAKERS

Gilson Gray—Linda Pope

Jackson Lees Group—five promotions

Taylor Wessing—Max Millington