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Andrew Rose

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The Court of Appeal handed down its judgment in the case of Lamesa Investments Ltd v Cynergy Bank Ltd [2020] EWCA Civ 281 on 30 June 2020. The case appealed a 2019 High Court judgment that found that Cynergy Bank Limited was entitled to refuse to pay interest payments to Lamesa Investments Ltd, under a facility agreement, due to a concern that Cynergy would be subject to US secondary sanctions (please see our previous blog…

On 24 April 2020, the European Commission published Implementing Regulation (EU) 2020/568 (the “Implementing Regulation”), which prohibits the export from the EU of certain personal protective equipment unless a licence is first obtained from an EU Member State authority. The Implementing Regulation came into force on 26 April 2020. The Implementing Regulation replaces the temporary export controls imposed by the Implementing Regulation (EU) 2020/402 published on 15 March 2020, as amended by Implementing Regulation (EU)…

UK HM Revenue & Customs (“HMRC”) has issued a communication stating that it is willing to consider extending payment deadlines on a case-by-case basis, for importers facing severe financial difficulties as a direct result of COVID-19. Businesses holding a duty deferment account may request an extension of the payment deadline for deferred customs duty and import VAT, without needing to call on a guarantee, increasing their guarantee limit, or risking their deferment account being suspended. …

In response to the growing impact of the COVID-19 Coronavirus in Europe, a number of countries have implemented national controls to restrict the export of medicines and medical equipment, such as face masks, gloves, and protective clothing. Over the weekend, the EU Commission reviewed actions taken by Member States and, while it has discouraged Member States from adopting measures which would limit intra-EU trade, it has introduced a temporary export ban on exports of certain…