News & publications

8 December, 2017 Funds successful in professional negligence claim against BNP Paribas in “Golden Belt” Sukuk litigation: [2017] EWHC 3182 (Males J.)

Mr Justice Males has given Judgment in favour of a number of distressed debt funds run by The Fortress Group and Cyrus Partners Limited, following a 6-week trial of a professional negligence action which the funds brought against BNP Paribas. The funds purchased certificates in the after-market of the “Golden Belt” Sukuk, a US$650m Islamic […]

9 November, 2017 Taurus Petroleum Limited (Appellant) v State Oil Marketing Company of the Ministry of Oil, Republic of Iraq (Respondent) [2017] UKSC 64 (Lord Neuberger, Lord Mance, Lord Clarke, Lord Sumption, Lord Hodge)

On 25 October 2017 the Supreme Court handed down judgment in Taurus v SOMO, allowing Taurus’ appeal. Amongst other matters, the Court unanimously overruled earlier Court of Appeal authority on the situs of debts arising under letters of credit. The full judgment can be read here: https://www.supremecourt.uk/cases/docs/uksc-2015-0199-judgment.pdf A summary is available at https://www.supremecourt.uk/cases/docs/uksc-2015-0199-press-summary.pdf Gordon Pollock QC (leading Guy Blackwood QC, […]