Sanjay Shah, a former hedge fund owner who is accused of defrauding Denmark's tax authority out of £1.4 billion ($1.8 billion), denied using a "magic money tree" in his trading at a London court Thursday.
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TOP NEWS

Trader Denies Using 'Magic Money Tree' At £1.4B Fraud Trial

By Ronan Barnard

Sanjay Shah, a former hedge fund owner who is accused of defrauding Denmark's tax authority out of £1.4 billion ($1.8 billion), denied using a "magic money tree" in his trading at a London court Thursday.

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Investors Lose $600M Mass Claim Over Cyprus Bank Failures

By Joyce Hanson

The Republic of Cyprus said Thursday that an international arbitral tribunal has dismissed an unprecedented $600 million mass claim by Greek depositors and bondholders affected by the restructuring of Laiki Bank and Bank of Cyprus.

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Struck-Off Lawyer Loses Bid To Challenge Contempt Sentence

By Lucia Osborne-Crowley

A struck-off solicitor lost her attempt on Thursday to get a second shot at reviving her appeal against a prison sentence for contempt of court as the appeals court found that she had failed to argue that she had been medically unfit to argue at her first appeal.

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SECURITIES & BANKING

Marketer Denies Owing Investors For Flawed Property Scheme

By Eddie Beaver

An investment marketer has denied owing care home investors £2.3 million ($2.9 million) after they sank money into a flawed property scheme, claiming it never said the investments were safe.

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Bank Sues Adviser For £9M In Property Overvaluation Dispute

By Eddie Beaver

A U.K. bank has alleged a retail adviser owes it £9.2 million ($11.7 million) for overvaluing a property development and causing it to lend millions of pounds more than it should have.

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ARBITRATION

NY Top Court Revives FanDuel Investors Suit

By Elliot Weld

New York's top appeals court on Thursday revived a suit brought by FanDuel investors who claim they were deprived of profits from a merger, disagreeing with a lower court's interpretation of Scottish law.

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INTELLECTUAL PROPERTY

InterDigital Fights To Duck Tesla FRAND Case

By William Janes

InterDigital and tech licensor Avanci LLC fought in a hearing Thursday to throw out Tesla's claim that they have failed to offer fair licensing terms for 5G patents for use in its cars, arguing that the automaker doesn't have valid claims against them.

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Lenovo Loses Bid For 'Sword Of Damocles' Injunction

By Alex Baldwin

A London judge has dismissed Lenovo's bid to hit Ericsson with an interim injunction to stop it infringing an essential patent for 5G technology, claiming on Thursday that the injunction was merely a "Sword of Damocles" to discourage the Swedish company from enforcing international injunctions.

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EMPLOYMENT & BENEFITS

Bipolar Flight Attendant Wins Retrial Of 'Unfit To Fly' Verdict

By Hanna Vioque

A flight attendant with bipolar disorder revived her claims of disability discrimination against CAE Crewing Services after an appellate judge in London concluded that the tribunal hearing the claims misinterpreted a vicarious liability law.

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Royal Mail Delivery Driver Loses Case Over 'Jokey' Threat

By Hanna Vioque

Royal Mail cannot be faulted for firing a delivery driver who threatened to blow up a colleague's car in a WhatsApp message if the colleague didn't join the picket line, an employment tribunal has ruled.

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LEGAL ETHICS & MALPRACTICE

Ex-Post Office Boss Told Reviewing Cases Would Be Bad PR

By Sophia Dourou

Former Post Office boss Paula Vennells denied that avoiding becoming "front page news" influenced her decision to limit a review of past convictions based on faulty IT data in her evidence to the inquiry into the Post Office scandal on Thursday.

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LAW FIRMS IN TODAY'S NEWS

11 South Square

3 Verulam Buildings

Bartlit Beck

Blackstone Chambers

Brick Court Chambers

Browne Jacobson LLP

Capsticks Solicitors LLP

Curtis Mallet-Prevost

DAC Beachcroft

DWF LLP

Doughty Street Chambers

EIP Europe

Fountain Court Chambers

Furnival Chambers

Gatehouse Chambers

Gowling WLG

Grant & Eisenhofer

Hailsham Chambers

Holman Fenwick

Kessler Topaz

King & Spalding

Kirkland & Ellis

One Essex Court

Osborne Clarke

Pinsent Masons

Powell Gilbert LLP

Proskauer Rose

Quinn Emanuel

TLT LLP

Taylor Wessing

Twenty Essex

COMPANIES IN TODAY'S NEWS

Bank of Cyprus Holdings PLC

CAE Inc.

Colliers International Property Consultants

Deloitte Touche Tohmatsu Ltd.

FanDuel Inc.

Getty Images Holdings Inc.

InterDigital Inc.

International Centre for Settlement of Investment Disputes

KKR & Co. Inc.

Lenovo Group Ltd.

Motorola Mobility LLC

Paddy Power Betfair PLC

Royal Mail Group PLC

Shamrock Capital Advisors LLC

Sisvel International SA

Solicitors Regulation Authority Ltd.

Telefonaktiebolaget LM Ericsson

Tesla Inc.

GOVERNMENT AGENCIES IN TODAY'S NEWS

European Central Bank

European Commission

European Union

International Monetary Fund

Serious Fraud Office

World Bank Group