United Kingdom

http://www.bbc.co.uk/news/business-22552109# HMRC wins Goldman Sachs court case 16 May 2013 HM Revenue and Customs (HMRC) has won its case in the High Court, where it had been accused of illegally letting investment bank Goldman Sachs off part of its tax bill. The campaign group UK Uncut Legal Action had claimed that the taxpayer had been… Continue Reading

http://www.independent.co.uk/news/business/news/banks-get-reprieve-on-current-accounts-8618109.html Banks get reprieve on current accounts Julian Knight Thursday 16 May 2013 Britain’s high street banks have been let off the hook by the Office of Fair Trading, which has decided not to refer them to the Competition Commission over the current account market. The OFT has been investigating the banks over whether or… Continue Reading

http://www.guardian.co.uk/law/2013/may/16/lawyers-rush-to-become-judges-legal-aid Legal aid cuts prompt top lawyers to leave the bar for careers on the bench Applications to become judges double as squeezed barristers and solicitors head for the ‘purple lifeboat’ of the judiciary Owen Bowcott, legal affairs correspondent The Guardian, Thursday 16 May 2013 It has been dubbed the stampede for “the purple lifeboat”… Continue Reading

http://www.lexology.com/library/detail.aspx?g=5f3e8231-ef62-4b52-b42d-b8c58cfea0fb Cold comfort: how latest case law demonstrates the limitations of comfort letters May 9 2013 Comfort letters can be a useful tool for providing an assurance of support from a parent to a subsidiary company. In some cases they help inform the decision of the board of a subsidiary and its continuing trade. It’s… Continue Reading

http://www.lexology.com/library/detail.aspx?g=01798ced-db67-440a-a768-0855cbff395b ‘Point of no return’ is not the point says Supreme Court May 9 2013 So Eurosail-UK 2007-3BL plc (Eurosail) is not ‘balance sheet’ insolvent, no event of default has occurred under the RMBS notes it has issued and a post-enforcement call option (PECO) does not make limited recourse any of the notes it relates… Continue Reading

http://www.irishtimes.com/business/sectors/financial-services/judgment-reserved-on-order-in-fitzpatrick-loan-dispute-1.1394839 Judgment reserved on order in Fitzpatrick loan dispute Order sought in High Court for repayment of £250,000 investment in London office project 16 MAY 2013 A dispute over whether a £250,000 loan from Anglo Irish Bank to its former chairman Seán FitzPatrick must be repaid by a former Anglo employee has come before the… Continue Reading

http://www.bbc.co.uk/news/uk-wales-north-west-wales-22544581# Dwr Cymru saves 400 jobs after Daniel Contractors collapse 15 May 2013 About 400 jobs in Wales have been safeguarded following the collapse of a Cheshire-based civil engineering firm. Daniel Contractors, which went into administration on Wednesday, provides workers for Dwr Cymru to provide a maintenance service. Dwr Cymru has told the workers it… Continue Reading

http://www.guardian.co.uk/film/2013/may/15/pinewood-studios-expansion-blocked-council Pinewood Studios expansion plan blocked by local council Lord Grade loses planning permission bid for Hollywood-style development on 100 acres of green belt Mark Sweney guardian.co.uk, Wednesday 15 May 2013 Pinewood Studios, home to the James Bond franchise, has had its £200m Hollywood-style expansion plan for its premises blocked by the local authority. Pinewood,… Continue Reading

http://www.reuters.com/article/2013/05/15/us-oil-pricing-platts-idUSBRE94E0NG20130515?feedType=RSS&feedName=businessNews EU oil price probe puts Platts in spotlight By Peg Mackey and Alex Lawler LONDON | Wed May 15, 2013 5:55pm EDT LONDON (Reuters) – A European investigation into alleged price rigging by major oil companies has drawn attention to leading price agency Platts and the way it sets oil price benchmarks. Authorities on… Continue Reading

http://economictimes.indiatimes.com/news/international-business/bank-of-england-offers-ray-of-hope-for-uk-economy/articleshow/20068284.cms Bank of England offers ray of hope for UK economy By Reuters | 15 May, 2013 LONDON: Britain’s central bank lifted a bit of the gloom hanging over the economy on Wednesday, issuing a slightly improved outlook for inflation and growth for the first time since the financial crisis. Bank of England Governor Mervyn… Continue Reading