Harry Denlegh-Maxwell
Harry Denlegh-Maxwell focuses his practice on international commercial litigation and arbitration. He advises clients in complex, high-value, multi-jurisdictional disputes, from providing pre-dispute strategic advice, including on dispute avoidance and litigation risk, through to appeal. Harry counsels clients from a range of sectors including financial services, technology and life sciences. Harry also represents parties in significant competition litigation proceedings.
The Potentially Damaging Effects of Non-Compliance with PD57AC
By Harry Denlegh-Maxwell and Daisy Daynes on Oct 22, 2024
Posted In Investment, Court Judgment, Regulatory/Compliance, United Kingdom
On 14 August 2024, in the case of Timothy Fulstow and Robert Woods v Jeremy Francis [2024] EWHC 2122 (ChD) (Fulstow), the High Court dismissed a high value investment claim, partly because the claimants’ witness statements were in clear contravention of Practice Direction 57AC (PD 57AC). This case acts as a cautionary tale for legal...
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Court of Appeal Rules in Favour of the FCA in Significant Redress Decision for all Regulated Firms
By Harry Denlegh-Maxwell, William Merry and Rebecca Geers on Oct 22, 2024
Posted In Court Judgment, Regulatory/Compliance, Private Equity, United Kingdom
Introduction In a landmark ruling, the Court of Appeal recently confirmed that the FCA can impose a redress requirement on an FCA-regulated firm under section 55L Financial Services and Markets Act 2000 (FSMA) without needing to meet the pre-conditions for a statutory market-wide redress scheme under section 404F FSMA. Background BlueCrest Capital Management UK LLP...
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English High Court Enforces Asymmetric Jurisdiction Clause in a Syndicated Loan Facility Agreement
By Mark Fine and Harry Denlegh-Maxwell on Aug 28, 2024
Posted In Court Judgment
On 24 May 2024, the English High Court granted final injunctive relief to Barclays Bank Plc (Barclays), both in the form of an anti-suit injunction and an anti-enforcement injunction, arising out of a syndicated loan agreement (the Facility) entered into between Barclays and PJSC Sovcombank (Sovcombank).1 In a judgment that will be of interest to...
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UK General Election: Anti-PACCAR Bill Torpedoed
By Jack Thorne and Harry Denlegh-Maxwell on May 31, 2024
Posted In Legislative Update, United Kingdom
In a previous blog post, we discussed the introduction to Parliament of the Litigation Funding Agreements (Enforceability) Bill (the Bill), which was designed to introduce legislation that would reverse the outcome of the UK Supreme Court’s decision in R (on the application of PACCAR Inc and others) v Competition Appeal Tribunal and others.[1] As we...
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High Court Issues First Judgment on Quincecare Duty After Landmark Supreme Court Ruling
By Jack Thorne and Harry Denlegh-Maxwell on Mar 27, 2024
Posted In Banking & Finance, United Kingdom
The so-called Quincecare duty has come under consideration for the first time since the Supreme Court’s ruling in Philipp v Barclays Bank UK plc[1] in July 2023. As we set out in our article here, the ruling in Philipp was widely seen as a welcome clarification of the scope of the Quincecare duty owed by...
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New Government Bill to Reverse Supreme Court’s Decision on Litigation Funding
By Jack Thorne, Briana Walley, Harry Denlegh-Maxwell and James Dobias on Mar 27, 2024
Posted In Legislative Update, Regulatory/Compliance, Transportation & Logistics, United Kingdom
The Litigation Funding Agreements (Enforceability) Bill was introduced to Parliament this week, following the UK government’s announcement earlier this month that it would introduce legislation that would reverse the outcome of the UK Supreme Court’s recent decision in R (on the application of PACCAR Inc and others) v Competition Appeal Tribunal and others.[1] In PACCAR,...
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Redactions and Waiver of Privilege: High Court Provides Guidance
By Harry Denlegh-Maxwell on Oct 9, 2023
Posted In Court Judgment, United Kingdom
The long-running battle between the Serious Fraud Office (SFO) and Eurasian Natural Resources Corporation (ENRC) has hit the headlines again. The most recent Judgment (which can be found here) concerns ENRC’s challenge to certain redactions to a report disclosed by the SFO. The report in question (the Byrne Report) set out the SFO’s findings following...
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Landmark UK Supreme Court Ruling Strikes a Blow to Litigation Funding
By Harry Denlegh-Maxwell on Jul 26, 2023
Posted In Court Judgment, United Kingdom
On July 26, 2023, the UK Supreme Court gave judgment in R (on the application of PACCAR Inc and others) v Competition Appeal Tribunal and others[1]. By a majority of four to one, the Supreme Court held that litigation funding agreements (LFAs) (which entitle funders to be paid a proportion of any damages recovered) are...
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The Quincecare Duty: A Victory for the Banks?
By Harry Denlegh-Maxwell on Jul 12, 2023
Posted In Court Judgment, Banking & Finance, United Kingdom
On July 12, 2023, the UK Supreme Court delivered a landmark decision on the so-called “Quincecare duty” owed by banks to their customers. In a unanimous judgment in favour of Barclays Bank, the UK’s highest Court held that banks did not owe customers a duty of care in fraud cases where transactions were authorised by...
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