Commercial Breakfast Bites @ Harvey Nichols – Thursday 15th March 2018


Thursday 15th March 2018 – Harvey Nichols, Bristol

Start: 9:00am (Registration and Breakfast from 8:45am)

Finish: 10:00am

Venue: Harvey Nichols, 2nd Floor Restaurant, Cabot Circus, Bristol

Morality, honesty and commercial transactions. Can they be reconciled?

“In my view it is impracticable and unreal to introduce into commercial transactions the moral standards of the vicarage…” Gloster LJ in UBS v KWL [2017] EWCA Civ 1657

In a series of recent decisions the court has seemingly imposed a sense of objective morality onto the ‘reasonable’ businessman.

Firstly, the Court of Appeal has found there can be a duty to speak in order to avoid an estoppel by silence (Ted Baker v Axa [2017] EWCA Civ 4097).

Then the Court of Appeal found a duty was incumbent on one a party to alert his counterparty to his fiduciary’s dishonest breach of duty (UBS v KWL [2017] EWCA Civ 1567).

Thirdly the High Court boldly decided that the trusts of ‘Putin’s banker’ were shams (JSC Mezhdunarodniy Promyshlenniy Bank v Pugachev [2017] EWHC 2426 (Ch).  

In this talk Stefan Ramel and John Churchill shall examine these three decisions and ask whether they amount to a trend in the law’s approach to commercial transactions of which practitioners should be wary.  Or are these merely ne’er-do-wells getting their comeuppance?

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