|
Bank Of Tokyo V Karoon
'' Bank of Tokyo Ltd v Karoon'' 987AC 45 is a conflict of laws case, which also relates to UK company law and piercing the corporate veil. Facts The Bank of Tokyo was a Japanese Bank operating in London and a wholly owned subsidiary of the Bank of Tokyo Trust Co, a New York corporation. Mr Karoon, an Iranian employee of the Iranian Maritime Co had personal accounts with both banks. He left Iran and transferred his money from the New York to the London bank. In February 1980 the London bank was notified that Mr Karoon was sentenced to prison by the Iranian government, and requested his assets be sent to the Iranian government. Mr Karoon asked the bank to transfer his accounts to another bank. The bank, unsure of what to do, applied for an interpleader summons and the money was eventually paid into court. Mr Karoon sued the New York bank claiming breach of the duty of confidentiality in disclosing information to the London bank, and the London bank sought to restrain him taking ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Tokyo
was a Japanese foreign exchange bank that operated from 1946 to 1996. In January 1996, it merged with Mitsubishi Bank to form The Bank of Tokyo-Mitsubishi (now MUFG Bank). Its headquarters was in the Nihonbashi district of Tokyo, adjacent to the Bank of Japan. BOT was the successor to the Yokohama Specie Bank, a state-chartered foreign exchange bank, and initially operated as an ordinary bank using the YSB's assets. In 1954 it became registered as a specialized foreign exchange bank, and closed all of its business unrelated to foreign trade. BOT became a close partner of the Ministry of Finance and the Japan Bank for International Cooperation in directing Japan's foreign trade policy during the postwar era. BOT had major operations in New York and London, and developed an early system to settle payments between Japanese yen and Chinese yuan during a time when direct foreign exchange was not possible. Due to the peculiarly international nature of its business, BOT was the only Ja ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Appeal Of England And Wales
The Court of Appeal (formally "His Majesty's Court of Appeal in England", commonly cited as "CA", "EWCA" or "CoA") is the highest court within the Senior Courts of England and Wales, and second in the legal system of England and Wales only to the Supreme Court of the United Kingdom. The Court of Appeal was created in 1875, and today comprises 39 Lord Justices of Appeal and Lady Justices of Appeal. The court has two divisions, Criminal and Civil, led by the Lady Chief Justice and the Master of the Rolls respectively. Criminal appeals are heard in the Criminal Division, and civil appeals in the Civil Division. The Criminal Division hears appeals from the Crown Court, while the Civil Division hears appeals from the County Court, High Court of Justice and Family Court. Permission to appeal is normally required from either the lower court or the Court of Appeal itself; and with permission, further appeal may lie to the Supreme Court. Its decisions are binding on all courts, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conflict Of Laws
Conflict of laws (also called private international law) is the set of rules or laws a jurisdiction applies to a Legal case, case, Transactional law, transaction, or other occurrence that has connections to more than one jurisdiction."Conflict of Laws", ''Black's Law Dictionary'' (11th ed. 2019). This body of law deals with three broad topics: ''jurisdiction'', rules regarding when it is appropriate for a court to hear such a case; ''foreign judgments'', dealing with the rules by which a court in one jurisdiction mandates compliance with a ruling of a court in another jurisdiction; and ''choice of law'', which addresses the question of which substantive laws will be applied in such a case.Restatement of the Law—Conflict of Laws, ''§2: Subject Matter of Conflict of Laws'' (American Law Institute 1971). These issues can arise in any private law context, but they are especially prevalent in contract law and tort law. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Company Law
British company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directive (European Union), Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth of Nations, Commonwealth and as an international standard setter, British law has always given people broad freedom to design the i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Piercing The Corporate Veil
Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders. Usually a corporation is treated as a separate legal person, which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Common law countries usually uphold this principle of separate personhood, but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be where a businessperson has left their job as a director and has signed a contract to not compete with the company they have just left for a period of time. If they set up a company which competed with their former company, technically it would be the company and not the person competing. But it is likely a court would say that the new company was just a "sham" or a "cover" and that, as the new company is completely owned and controlled by one person, the former employee i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London
London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Western Europe, with a population of 14.9 million. London stands on the River Thames in southeast England, at the head of a tidal estuary down to the North Sea, and has been a major settlement for nearly 2,000 years. Its ancient core and financial centre, the City of London, was founded by the Roman Empire, Romans as Londinium and has retained its medieval boundaries. The City of Westminster, to the west of the City of London, has been the centuries-long host of Government of the United Kingdom, the national government and Parliament of the United Kingdom, parliament. London grew rapidly 19th-century London, in the 19th century, becoming the world's List of largest cities throughout history, largest city at the time. Since the 19th cen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interpleader
Interpleader is a civil procedure device that allows a plaintiff or a defendant to initiate a lawsuit in order to compel two or more other parties to litigate a dispute. An interpleader action originates when the plaintiff holds property on behalf of another, but does not know to whom the property should be transferred. It is often used to resolve disputes arising under insurance contracts, such as when a plaintiff with a personal injury claim has a dispute with medical providers over the payment out of a settlement for medical services provided to treat the plaintiff's injuries. Terminology and overview In an interpleader action, the party initiating the litigation, normally the plaintiff, is termed the ''Stakeholder (law), stakeholder''. The money or other property in controversy is called the ''res'' (a Latin word meaning object or thing). All defendants having a possible interest in the subject matter of the case are called ''claimants''. In some jurisdictions, the plaintiff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Summons
A summons (also known in England and Wales as a claim form or plaint note, and in the Australian state of New South Wales as a court attendance notice (CAN)) is a legal document issued by a court (a ''judicial summons'') or by an administrative agency of government (an ''administrative summons'') for various purposes. Judicial summons A judicial summons is served on a person involved in a legal proceeding. Legal action may be in progress against the person, or the person's presence as witness may be required. In the former case, the summons will typically announce to the person to whom it is directed that a legal proceeding has been started against that person, and that a case has been initiated in the issuing court. In some jurisdictions, it may be drafted in legal English difficult for the layman to understand, while several U.S. states expressly require summonses to be drafted in plain English and that they must start with this phrase: "Notice! You have been sued." The summon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Goff, Baron Goff Of Chieveley
Robert Lionel Archibald Goff, Baron Goff of Chieveley, , Queen's Counsel, QC (12 November 1926 – 14 August 2016) was an English Barristers in England and Wales, barrister and judge who was Lords of Appeal in Ordinary#Senior and Second Senior Law Lord, Senior Lord of Appeal in Ordinary, the equivalent of today's President of the Supreme Court of the United Kingdom, President of the Supreme Court. Best known for establishing English unjust enrichment law, unjust enrichment as a branch of English law, he has been described by Andrew Burrows as "the greatest judge of modern times". Goff was the original co-author of ''Goff & Jones'', the leading English law textbook on restitution and unjust enrichment, first published in 1966. He practised as a commercial barrister from 1951 to 1975, following which he began his career as a judge. He was appointed to the Judicial Committee of the House of Lords in 1986. Goff was born in his mother's family home in Perthshire, Scotland, and was ra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forum Conveniens
''Forum non conveniens'' (; Latin for 'an inconvenient forum') is a mostly common law legal doctrine through which a court acknowledges that another forum or court where the case might have been brought is a more appropriate venue for a legal case, and dismisses the case. ''Forum non conveniens'' may be used to dismiss a case, for example, to encourage parties to file a case in another jurisdiction within which an accident or incident underlying the litigation occurred and where all the witnesses reside. As a doctrine of the conflict of laws, ''forum non conveniens'' applies between courts in different countries and between courts in different jurisdictions in the same country. ''Forum non conveniens'' is not applicable between counties or federal districts within a state. A concern often raised in applications of the doctrine is forum shopping, or picking a court merely to gain an advantage in the proceeding. This concern is balanced against the public policy of deferring to a p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Breach Of Contract
Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s), whether partially or wholly, as described in the contract, or communicates an intent to fail the obligation or otherwise appears not to be able to perform its obligation under the contract. Where there is breach of contract, the resulting damages have to be paid to the aggrieved party by the party breaching the contract. If a contract is rescinded, parties are legally allowed to undo the work unless doing so would directly charge the other party at that exact time. What constitutes a breach of contract There exists two elementary forms of breach of contract. The first is actual failure to perform the contract as and when specified constitutes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lifting The Corporate Veil
Piercing the corporate veil or lifting the corporate veil is a legal decision to treat the rights or duties of a corporation as the rights or liabilities of its shareholders. Usually a corporation is treated as a separate legal person, which is solely responsible for the debts it incurs and the sole beneficiary of the credit it is owed. Common law countries usually uphold this principle of separate personhood, but in exceptional situations may "pierce" or "lift" the corporate veil. A simple example would be where a businessperson has left their job as a director and has signed a contract to not compete with the company they have just left for a period of time. If they set up a company which competed with their former company, technically it would be the company and not the person competing. But it is likely a court would say that the new company was just a "sham" or a "cover" and that, as the new company is completely owned and controlled by one person, the former employee is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
