A recent Lloyd’s Market Bulletin ref: Y4280 (14 May 2009) gives details of three individuals who, when changing employment to a competitor, committed various breaches of their obligations to their previous employer. Alistair Mark Mellis and Ksenya Mazalova were involved in the appropriation of documents from their previous employer for use in their new employment. Mr Mellis, who had not yet moved to his new employer, also provided underwriting assistance to Ms Mazalova. 


Read More UK: Regulation: Notice of Censure Published by Lloyd’s Enforcement Board in Relation to Ark Syndicate Management (ASM) Employees

In Hrvatska Elektroprivreda v Slovenia [ICSID Case No ARB/05/24 (6 May 2008)] the defendant, in an arbitration before the International Centre for the Settlement of Investments Disputes (ICSID) waited until one week before a substantive hearing, to disclose to the tribunal and the claimant, a list of lawyers who would be attending. When disclosed, the list included a QC who was a member of the same chambers as the president of the tribunal (which is not unusual in English law proceedings). 


Read More UK: Questioning the Impartiality of Chambers

(1) Roger Shashoua (2) Rodemadan Holdings Ltd (3) Stancroft Trust Ltd v Mukesh Sharma [2009] EWHC 957 (Comm) involved a dispute over a shareholders agreement governed by Indian law, which contained an arbitration clause providing for an arbitration in London, under the rules of the International Chamber of Commerce (the ICC). 


Read More UK: Supranational Arbitrations and the Laws of England

Midgulf (M) was a trader in sulphur and Groupe Chimiche Tunisien (G) was a company owned by the state of Tunisia. The parties entered into a contract for the sale and purchase of sulphur in June 2008 and a further contract for the same in July 2008. The June 2008 contract contained a London arbitration clause. G complained about the quality of the sulphur provided under both contracts and subsequently terminated the July contract. A dispute arose as to whether the July 2008 contract contained a London arbitration clause. 


Read More UK: Midgulf International Ltd v Groupe Chimiche Tunisien (2009) [2009] EWHC 963 (Comm)

Lloyd’s has finalised the rules and guidance for the 2009 capacity transfer season. Capacity transfers enable members to surrender or acquire the right to underwrite a specific amount of premium on Lloyd’s syndicates. The rules and guidance contains the Auction Rules, the Bilateral Arrangements Rules, the Conversion Rules, the Capacity Offer Rules and the explanatory guide to the Capacity Auctions and Bilateral Arrangements. No substantive amendments have been made to the 2008 rules and guidance. 
Read More UK: Lloyd’s Announces Capacity Market Rules for 2009

On 7 May 2009, the Financial Services Global Competitiveness Group (FSGCG), which is co-chaired by the Chancellor, Alistair Darling, and former Citi Chairman, Sir Win Bischoff, produced a report on the future of the UK’s financial services sector. As the FSGCG consists of a number of members representing key stakeholders in the sector, this report reflects the view of the UK’s financial services leaders. 
Read More UK: Report on the Future of the UK Financial Services Sector

In Dunlop Haywards (DHL) and Erinaceous Commercial Property Services Limited v Erinaceous Insurance Services Limited, Lockton Companies International Limited and MSI Corporate Capital Limited and others [2009] EWCA Civ 354, the Appellant insurance broker (Erinaceous Insurance) appealed against a decision of the High Court (see previous blog post) not to allow the Respondent excess insurers to be joined as defendants in a claim brought against the Appellant by its client insured, Dunlop. 


Read More UK: Role of Excess Insurers in Proceedings Between Insured, Broker and Sub-Broker

We recently reported that the Solvency II directive had been approved by the European Parliament (see the post here). The final stage of the European legislative process has now been completed with the European Commission adopting the directive on Tuesday 5 May. The implementation date, by which each of the EU member states must bring into force implementing regulations, is stated in the directive to be 31 October 2012. 


Read More Solvency II Directive Adopted; UK Financial Services Authority Publishes Solvency II Feedback