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Edwards Angell Palmer & Dodge’s Insurance and Reinsurance Department recently published its latest Newsletter, Insurance & Reinsurance Review – September 2009, which contains nine articles about various topics in the insurance and reinsurance industry. …
Read More Insurance & Reinsurance Review – September 2009

In the 2009 Budget, on 22 April 2009, the Chancellor announced the introduction of a Government-backed  ‘top-up’ trade credit insurance scheme aimed at addressing the challenges that UK businesses were facing as a result of the reduction in availability of trade credit insurance (the Scheme). 

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Read More UK: Changes to UK Trade Credit Insurance Top Up Scheme

The administrators of Lehman Brothers International (Europe) have been intending to propose a scheme of arrangement under the English Companies Act to enable them to distribute several billions of dollars of assets held on trust by the company in the face of difficulties in establishing who was entitled to the trust assets; in particular, they had not received responses from all potentially interested clients, could not rely on the accuracy of the company’s records and had not received all the information requested from sub-custodians and other intermediaries. 

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Read More UK: Court Rules it Has No Jurisdiction to Sanction Scheme Concerning Trust Assets Held by Lehman UK

EAPD has recently published the second electronic version of its ‘Commercial Litigation Review’ (August 2009), which focuses on the hot topics currently facing businesses in the UK and throughout the world. 

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Read More Publication: Edwards Angell Palmer & Dodge’s Commercial Litigation Review (August 2009 edition)

In Shell Egypt West Manzala GmbH & Others v Dana Gas Egypt Limited (formerly Centurion Petroleum Corporation) [2009] EWHC 2097 (Comm) Dana Gas Egypt Limited (Dana) submitted that the court had no jurisdiction to hear Shell’s application for permission to appeal, allowed under section 69(1) of the Arbitration Act (the Act), or any substantive appeal because of the phrase “final, conclusive and binding” in the relevant arbitration clause. 

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Read More UK: Can the Right to Appeal an Arbitration Award Under the Arbitration Act 1996 be Excluded?

In Catalyst Investment Group Ltd & Ors v Max Lewinsohn & Ors [2009] EWHC 1964 (Ch) the High Court held that where the English courts have jurisdiction to hear a claim under Article 2 of EC Regulation 44/2001 (the Jurisdiction Regulation) it was not open to that court to stay the action before it on the grounds that there were existing proceedings on foot in a non-EU jurisdiction which had a closer connection to the case than England. 

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Read More UK: English High Court Considers the Effect of Parallel Proceedings on its Jurisdiction

The applicant, Midgulf, was a trader in sulphur. Groupe Chimiche Tunisien was a state-owned company of Tunisia which had a demand for sulphur. The parties entered into a contract in June 2008 for the sale of 23,000 mt of sulphur by Midgulf to Groupe Chimiche Tunisien, which included a clause for London arbitration. A second, July, contract was for the sale and purchase of 150,000 mt of sulphur at $895 per ton. This was agreed between the parties orally. …
Read More UK: Agreement to Arbitrate: MIDGULF INTERNATIONAL LTD v GROUPE CHIMICHE TUNISIEN

On 24 March 2009, Sir Andrew Park sitting as a High Court judge in the UK Companies Court handed down his judgment in the case of Global Trader Europe Limited (Global Trader). The case is highly significant both for the global financial services industry and for those having to deal with the insolvency or near insolvency of financial institutions. …
Read More UK: English High Court Rules on Trust Claims in an Insolvency with Potentially Important Consequences for the Lehman Brothers Administration