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Disclaimers: paper shield or your best protection?

The UK Court of Appeal recently considered the liability of issuers to secondary market investors under the Misrepresentation Act 1967 (the “1967 Act”) in the case of Taberna Europe CDO II Plc v Selskabet (formerly Roskilde Bank A/S) (In bankruptcy) [2016] EWCA Civ 1262. The Court found that primary and secondary investors could potentially be … Continue Reading

Late payers beware? New obligation on large companies to report on payment practices

Under new regulations to be made under section 3 of the Small Business, Enterprise and Employment Act 2015 (the Payment Reporting Regulations), large UK companies will be required on a half-yearly basis to prepare and publish a report on their payment practices, policies and performance for financial years beginning on or after 6 April 2017. There will … Continue Reading

The fiducie-sûreté: the most effective French security interest?

The French fiducie, introduced following years of debate into French law in 2007, is directly inspired by the English trust mechanism.  Even though there is no significant case law supporting this, some academics have gone so far as to refer to this mechanism as “the queen of securities”.  It has also been made more attractive … Continue Reading