Articles by author
Cryptocurrency, proprietary injunctions, freezing orders, and trusts: the law is not cryptic
Despite the meteoric rise of cryptocurrency as an asset class, there has to date been little case law concerning it. This article looks at a recent cryptocurrency case which applies established principles relating to trusts, proprietary injunctions and worldwide freezing orders to this new asset class: Wang v Darby [2021] EWHC 3054 (Comm). This decision confirms that familiar legal principles apply equally to cryptocurrencies, although digital assets can shine a light on established areas of law. We discuss below the key issues arising from the application of established principles to novel circumstances and the way in which Wang v Darby represents a missed opportunity to address the more interesting points arising in existing case law concerning cryptocurrency.
1 APR 2022Interpreting ICC standardised rules in trade finance disputes: courts take an international perspective
Banking practice in areas of trade finance such as demand guarantees and letters of credit is standardised by a collection of contractual rules published by the International Chamber of Commerce (ICC). The application of domestic contractual interpretation principles may risk inconsistency in the way such rules are construed between jurisdictions. However, in relation to the most commonly used rules (the UCP 600, which apply to letters of credit), several courts (including the English courts) have tried to ensure that the rules are interpreted consistently with reference to their international consequences, as opposed to strictly in accordance with the governing law of the contract. Two decisions of the English High Court and the Qatari Appellate Court demonstrate a trend towards construing other sets of ICC standardised rules in the same way as the UCP 600.
1 OCT 2022
