Balcombe, Rose LJJ and J Hutchison
A number of investors, among them the appellants in this case, took out ‘home income plans’ (HIPs) promoted by insurance brokers who were FIMBRA members. Mortgage loans were…
Abstract
A number of investors, among them the appellants in this case, took out ‘home income plans’ (HIPs) promoted by insurance brokers who were FIMBRA members. Mortgage loans were raised under these plans on the security of the appellants' homes and the capital so obtained was invested in income producing equity linked single premium investment bonds. The values of property and equities then fell, interest rates rose sharply and the appellants' sustained serious losses in that they were left with mortgage liabilities they could not meet.
Serious fraud trials are the sum of their component parts such that examination of one particular area often repays attention. The Roskill Fraud Trials Committee's criticisms were…
Abstract
Serious fraud trials are the sum of their component parts such that examination of one particular area often repays attention. The Roskill Fraud Trials Committee's criticisms were the backdrop for the Criminal Justice Act 1987 and the enhanced investigatory powers that are to be found in s. 2 thereof. Seven years after the enactment of the 1987 Act it is apposite to examine whether in derogating from the confines of traditional criminal evidential practices a certain level of procedural and substantive fairness has been maintained. The Police and Criminal Evidence Act 1984 and its application to the rights of a suspect are also of importance. A critical examination of the above issues demands steering a careful course between normative rules and theory: in this area above all others it is impossible and undesirable to divorce one from the other.
Serious fraud trials are the sum of their component parts such that examination of one particular area often repays attention. The Roskill Fraud Trials Committee's criticisms were…
Abstract
Serious fraud trials are the sum of their component parts such that examination of one particular area often repays attention. The Roskill Fraud Trials Committee's criticisms were the backdrop for the Criminal Justice Act 1987 and the enhanced investigatory powers that are to be found in s. 2 thereof. Seven years after the enactment of the 1987 Act it is apposite to examine whether in derogating from the confines of traditional criminal evidential practices a certain level of procedural and substantive fairness has been maintained. The Police and Criminal Evidence Act 1984 (PACE) and its application to the rights of a suspect are also of importance. A critical examination of the above issues demands steering a careful course between prescriptive rules and theory: in this area above all others it is impossible and undesirable to divorce one from the other.
In order to succeed in an action under the Equal Pay Act 1970, should the woman and the man be employed by the same employer on like work at the same time or would the woman still…
Abstract
In order to succeed in an action under the Equal Pay Act 1970, should the woman and the man be employed by the same employer on like work at the same time or would the woman still be covered by the Act if she were employed on like work in succession to the man? This is the question which had to be solved in Macarthys Ltd v. Smith. Unfortunately it was not. Their Lordships interpreted the relevant section in different ways and since Article 119 of the Treaty of Rome was also subject to different interpretations, the case has been referred to the European Court of Justice.
Knight's Industrial Law Reports goes into a new style and format as Managerial Law This issue of KILR is restyled Managerial Law and it now appears on a continuous updating basis…
Abstract
Knight's Industrial Law Reports goes into a new style and format as Managerial Law This issue of KILR is restyled Managerial Law and it now appears on a continuous updating basis rather than as a monthly routine affair.
HOBHOUSE STUART‐SMITH and PILL LJJ
On 6th February, 1987, Goldman Sachs (the plaintiffs in the action from which this appeal arose and the respondents to the appeal hereinafter referred to as the Plaintiffs…
Abstract
On 6th February, 1987, Goldman Sachs (the plaintiffs in the action from which this appeal arose and the respondents to the appeal hereinafter referred to as the Plaintiffs) purchased US$10m face value worth of Exxon bonds for which they paid US$2.26m. They sold them on and a month later it transpired that the bonds were forgeries. The London brokers from whom the Plaintiffs bought the bonds revealed, following police enquiries, that they acted on the instructions of a Mr Philip Lyons (the Defendant). Mr Lyons was a Chartered Accountant, and had delivered the bonds to the clearing house when the sale was concluded and he also controlled the Liechtenstein Anstalt (a form of nominee trust) to which the purchase price had been paid. In April 1987 Mr Lyons was arrested and charged with forgery and deception.
DILLON, LEGGATT, HENRY LJJ and Joanna Gray
This case concerned an attempt by the liquidators of Bishopsgate Investment Management Ltd (BIM) the trustee of assets belonging to pension schemes for employees of Maxwell…
Abstract
This case concerned an attempt by the liquidators of Bishopsgate Investment Management Ltd (BIM) the trustee of assets belonging to pension schemes for employees of Maxwell companies to recover some of the large amounts of BIM's pension fund monies which had been improperly paid into bank accounts of Maxwell Communication Corporation PLC group companies and private sector companies owned by Maxwell, his family and trusts set up by him.
The law relating to tracing is complicated, littered with inconsistencies and possibly now verging on a state of disarray. The complications are ever increasing as the topic…
Abstract
The law relating to tracing is complicated, littered with inconsistencies and possibly now verging on a state of disarray. The complications are ever increasing as the topic becomes inevitably intertwined with the law relating to constructive trusts and restitution. This article concentrates on a specific aspect of the law of tracing, namely, the extent to which one can trace money paid into an overdrawn bank account.
The factual background to this appeal was set out in Vol. 5, No. 1, pp. 70–72 of the Journal of Financial Regulation and Compliance and concerned the 1991 collapse of the Bank of…
Abstract
The factual background to this appeal was set out in Vol. 5, No. 1, pp. 70–72 of the Journal of Financial Regulation and Compliance and concerned the 1991 collapse of the Bank of Credit and Commerce International (BCCI) banking group and the role therein of the Bank of England, as UK banking regulator and supervisor at the time. The Appellants in this appeal were Plaintiffs (numbering some 6,000 persons) in an action against the Bank of England for damages based upon the tort of misfeasance in public office. The Plaintiffs were depositors in the UK branches of Bank of Credit and Commerce International who had lost monies as a result of the BCCI group's collapse, together with BCCI SA (in liquidation) as equitable assignee of the depositors' claims. This was an appeal from an order of Clarke J made on 2 October, 1997 which struck out the Plaintiffs' claim against the Bank of England and dismissed the proceedings, on the basis that the essential elements of the tort of misfeasance in public office were not present and thus the claim was bound to fail.
The original legislation which introduced the redundancy payments scheme was the Redundancy Payments Act 1965. This was the first of the substantive statutory individual…
Abstract
The original legislation which introduced the redundancy payments scheme was the Redundancy Payments Act 1965. This was the first of the substantive statutory individual employment rights given to an employee; other individual employment rights, as for example, the right not to be unfairly dismissed, followed some years later. The Redundancy Payments Act 1965 has been repealed and the provisions on redundancy are now to be found in the Employment Protection (Consolidation) Act 1978.