News & Analysis as of

Financial Institutions › Breach of Contract › United Kingdom

A&O Shearman

An interest-ing question: when is a default interest rate a penalty?

A&O Shearman on

The Court of Appeal has affirmed a three-step test for penalty clauses: (1) is it a secondary obligation; (2) does the clause protect a legitimate interest; and (3) is it extortionate by reference to the legitimate interest?...more

Jones Day

"Serious Irregularity" in Bank Merger Matter Triggers English Commercial Court's Award Set-Aside

Jones Day on

The Situation: A bank owner and an investor entered into an agreement in which the investor would provide the funds necessary for a merger of two banking entities in return for a minority interest in the acquired bank. The...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 7.7.16

Robins Kaplan LLP on

Disgraced Wall Street scion Andrew Casperson has pleaded guilty to federal wire and security fraud charges related to his Ponzi-like scheme in which he bilked nearly $40 million from friends and a private foundation....more

3 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide