Gwendoline Davies and Lynsey Oakdene highlight the conflict between a non-reliance clause and a misrepresentation claim ‘If liability for misrepresentation would arise if the clause did not exist (as indeed it would have in this case), then s3 MA is engaged, and the clause must satisfy the reasonableness test.’ There are various strategies that contracting …
Continue reading "Misrepresentation: The voice of reason"
This post is only available to members.
Sascha Hindmarch outlines the pursuit of Libor-related claims ‘Graiseley’s importance lies in the window it provides claimants to pursue financial institutions for Libor-related infringements by pleading implied representations as a head.’ The Court of Appeal’s decision at the end of last year in Graiseley Properties Ltd v Barclays Bank plc [2013] (appeal decision) confirmed that …
Continue reading "Misrepresentation: Banking on bankers"
This post is only available to members.
Wills & Trusts Law Reports | November 2013 #134In 2001 Mr Pagel (P) and Mr Farman (F), set up a hedge fund. At first they shared responsibility for marketing and investment equally, but F began to concentrate on investing and P dealt with marketing and client relationships and F began to find the split unfair, so that from 2004 the 50/50 split was renegotiated and F received two thirds of the performance fees, but paid the cost of fixed employee bonuses and shared management fees 50/50 with P. Initially, both partners had to sign confirmations for all withdrawals but from autumn 2006 this only applied to amounts over £5,000. For a nu...
