The administrators of Market Financial Solutions have accused the collapsed lender's owner of systematically plundering £1.3 billion ($1.8 billion) in a "widescale" fraud to fund his "lavish lifestyle."
The administrators of Market Financial Solutions have accused the collapsed lender's owner of systematically plundering £1.3 billion ($1.8 billion) in a "widescale" fraud to fund his "lavish lifestyle."
VTB Bank has lost its bid to lift an injunction that blocks it from bringing a $156 million case against JPMorgan in Russia over frozen funds, with a London appeals court upholding a ruling that the claim was "vexatious and oppressive."
New powers that put companies on the chopping block for crimes committed by their executives dramatically expand corporate liability to include a wider array of offenses, which businesses already struggling with "compliance fatigue" have barely begun to grapple with, lawyers say.
The accounting watchdog said Tuesday that it has banned two former finance directors of Carillion PLC from working in the profession for their reckless preparation of financial statements for the construction business, which is in liquidation.
The Financial Conduct Authority said on Tuesday that it has fined a pensions adviser £755,000 ($1 million) and banned him from working in financial services in Britain for acting without integrity and putting customers at risk for personal gain.
The former owners of PrivatBank urged an appeals court on Tuesday to overturn a finding that they owe the Ukrainian lender $3 billion, arguing that a later repayment to the bank "extinguished" the loss resulting from their fraudulent loan recycling scheme.
Deutsche Bank can seek to force Monaco-based billionaire Alexander Vik to answer questions about his company's assets to help claw back debt exceeding $360 million, after a London appeals court ruled Tuesday it does have the power to issue such an order.
Two Cambridgeshire farmers and a campaign group can't challenge the U.K. government's plans to slash inheritance tax relief for farms on the grounds that there should have been a public consultation before the proposals were announced, a London court ruled Tuesday.
The Swiss financial markets watchdog released plans on Tuesday to tighten up its anti-money laundering rules, with new measures that would require banks, insurers and investment funds to understand the ownership and control structure of the customer.
The Pensions Regulator has opened a consultation on a refreshed corporate strategy that will guide its work over the next five years, as the pensions market is set to undergo major changes through the Pension Schemes Act 2026.
Bank of Montreal said Tuesday that it has agreed to sell its specialized transportation and vendor-focused financing business to investment firm Stonepeak Partners LP for an amount that it did not disclose.
McDermott Will & Schulte has hired 12 lawyers led by a private equity specialist from Italian firm Gitti and Partners for its office in Milan as it continues to invest in its legal services in Europe.
