Links: Home | swarblaw - law discussions

swarb.co.uk - law index


These cases are from the lawindexpro database. They are now being transferred to the swarb.co.uk website in a better form. As a case is published there, an entry here will link to it. The swarb.co.uk site includes many later cases.  














Financial Services - From: 2001 To: 2001

This page lists 19 cases, and was prepared on 20 May 2019.


 
 Bestrustees v Stuart; 2001 - [2001] Pens LR 283

 
 Loosemore v Financial Concepts; 2001 - [2001] Lloyds PNLR 235

 
 Royal Masonic Hospital and Another v Pensions Ombudsman and Another; ChD 31-Jan-2001 - Times, 31 January 2001; Gazette, 01 February 2001

 
 In Re AXA Equity and Law Life Assurance Society Plc (No 2) In Re AXA Sun Life Plc (No 2); ChD 31-Jan-2001 - Gazette, 08 March 2001; Times, 31 January 2001
 
Wirral Borough Council v Evans and Another Times, 20 February 2001
20 Feb 2001
ChD

Professional Negligence, Financial Services
Although the administrators of an occupational pension scheme had no duty to advise a beneficiary of the scheme, they could still have a duty to act with reasonable care and skill where they took such a duty upon themselves by in fact giving specific advice to a beneficiary.


 
 Contradictors v The Attorney General of New Zealand; The Public Trustee and Pritchard; PC 8-Mar-2001 - [2001] UKPC 10
 
Merchant Navy Ratings Pension Fund Trustees Ltd v Chambers and Another Gazette, 29 March 2001; Times, 02 April 2001
29 Mar 2001
ChD

Financial Services
The trustees sought approval of the transfer of the funds within a scheme by way of a rescue. The transfer was opposed on behalf of its members, as being without their necessary consent. It was held that consent was not required where both schemes were intended to benefit employees in the same employment, and that it was for the actuary to assess whether or not any transfer of a particular member's benefits would affect him adversely, and an alteration of the entitlement benefits would not of itself prevent certification.
Occupational Pension Schemes (Preservation of Benefits) Regulations 1991 (1991 No 167) - Occupational Pension Schemes (Modification of Benefits) Regulations 1996 3

 
Regina v Securities and Futures Authority Limited Disciplinary Appeal Tribunal of Securities and Futures Authority Limited ex parte Bertrand Fleurose Times, 15 May 2001; [2001] EWHC Admin 292
26 Apr 2001
Admn

Financial Services, Human Rights, Administrative
Those elements of Human Rights law which related to criminal charges could not be applied to disciplinary proceedings of the Securities and Futures Authority. Such proceedings are in their nature civil proceedings. Although a financial penalty was capable of being imposed, it could only be enforced as a civil debt. The applicant had the normal private rights of any member of an association.
1 Citers

[ Bailii ]

 
 Wilson v First County Trust (2); CA 2-May-2001 - Times, 16 May 2001; Gazette, 14 June 2001; [2002] QB 74; [2001] EWCA Civ 633
 
Wrightson Limited v Fletcher Challenge Nominees Limited (Appeal No 34 of 2000) [2001] UKPC 23
3 May 2001
PC
Lord Bingham of Cornhill, Lord Hope of Craighead, Lord Hutton, Lord Hobhouse of Woodborough, Lord Millett
Financial Services, Commonwealth
(New Zealand) The appeal was as to the proper approach to the calculation of sums payable on the secession of a participating company and its employees from a group superannuation scheme. This must vary according to the scheme. The claimants complained that on withdrawal they had had attributed to them no part of the surplus accrued within the scheme. The withdrawal was to act as a partial dissolution of the scheme, with a share appropriated to the withdrawing portion by the trustees. The discretion given to the trustees was wide, and should not be fettered by inserting a starting point for the calculation which was not reflected in the deed. The surplus was relatively small and the decision was a proper exercise of that discretion.
[ Bailii ] - [ PC ] - [ PC ] - [ PC ]

 
 Patel v Jones; CA 24-May-2001 - Times, 29 May 2001; [2001] EWCA Civ 779

 
 National Grid Co Plc v Mayes and Others; International Power Plc (Formerly National Power Plc) v Healy and Others; HL 7-Jun-2001 - Times, 10 April 2001; Gazette, 07 June 2001; [2001] UKHL 20; [2001] 2 All ER 417; [2001] 1 WLR 864
 
Larsy v Institut national d'assurances sociales pour travailleurs independants [2001] EUECJ C-118/00; ECLI:EU:C:2001:368; [2001] ECR I-5063
28 Jun 2001
ECJ

Financial Services
(Judgment) Regulations (EEC) Nos 1408/71 and 1248/92 - Retirement pensions - Anti-overlapping rules - Unenforceability pursuant to a judgment of the Court of Justice - Limitation of effects - Serious breach of Community law
[ Bailii ]
 
Money Markets International Stockbrokers Ltd v London Stock Exchange Ltd and Another [2001] EWHC 1052 (Ch)
10 Jul 2001
ChD
Neuberger J
Company, Financial Services, Insolvency
MMI were members of the London Stock Exchange, and accordingly held one share in that non-profit making institution. The share was valueless. Anticipating losing their membership and so the share, and also the demutualisation, the share was to be transferred to a third party. At that point it would become worth £3 million. Because the ownership of the share was merely an incident of membership, there was no conflict between the rules which deprived it both of membership and the share, and the rules which invalidated the transfer of assets of an insolvent person. Until the de-mutualisation, the share remained worthless, and the insolvency rules did not bite.
1 Cites

[ Bailii ]
 
Household Global Funding Inc and others v British Gas Trading and others [2001] EWCA Civ 1156
13 Jul 2001
CA
Robert Walker LJ
Financial Services, Consumer
Application for permission to appeal from discontinuance of injunction
[ Bailii ]
 
Needler Financial Services Ltd v Taber Times, 09 August 2001; Gazette, 27 September 2001; [2001] EWHC Ch 5; [2002] 3 All ER 501
31 Jul 2001
ChD
Morritt VC,
Financial Services, Damages, Professional Negligence
The claimant had been negligently advised to swap to a personal pension plan. He was to receive damages in respect of that loss, but, in the meantime, the pension company, of which he had become a member de-mutualised, and he became entitled to shares in the new company. The adviser sought to reduce the damages payable by the value of the shares. There was in fact no sufficient connection between the negligent act and the benefit received. The demutualisation in no way arose as a consequence of the negligence, even though it would not have been received but for relying upon the advice.
Financial Services Act 1986 62
1 Citers

[ Bailii ]
 
Profilati Italia S R L v Painewebber Incorporated, Painewebber International Futures Limited [2001] 1 All ER 1065
12 Sep 2001
ComC
Moore-Bick J
Arbitration, Financial Services
CS Arbitration - Award - Application to set aside award on the grounds of serious irregularity - Arbitration Act 1996 s. 68(2)(g) - whether inadvertent failure to disclose relevant documents resulted in award being procured in a way contrary to public policy - whether respondents suffered substantial injustice. Arbitration - Disclosure - Arbitration under Rules of the London Metal Exchange - duty of respondent to give disclosure - whether respondent failed to disclose relevant documents
The Applicant challenged an arbitration award made under the rules of the London Metal Exchange. They claimed that they had incurred losses through the wrongful closure of its credit line and by closing out the business between them. They claimed the award would not have been made had the defendants made full disclosure of documents which later came to light. They claimed this to be in breach of public policy rather than by fraud. This applied for the most serious of cases where justice called out for a remedy. In this case disclosure may not have included these documents, and they may not have had the substantial effect claimed. The application failed.
Arbitration Act 1996 68(2)(g)

 
Base Metal Trading Ltd v Shamurin [2001] EWHC 512 (Comm)
21 Nov 2001
ComC
Moore-Bick J
Financial Services, Jurisdiction

1 Cites

1 Citers

[ Bailii ]

 
 Timbrell v Colonial Mutual Group (UK Holdings) Ltd; CA 12-Dec-2001 - [2001] EWCA Civ 1992
 
Copyright 2014 David Swarbrick, 10 Halifax Road, Brighouse, West Yorkshire HD6 2AG.