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Sunny Mann

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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 7 July 2020 the Secretary of State for International Trade informed Parliament in a written statement that she has retaken her decisions regarding licences for military exports to Saudi Arabia for possible use in the conflict in Yemen, in accordance with the Judgment of the Court of Appeal of 20 June 2019. The Court of Appeal last year ruled that the government had erred in law in its decision-making processes on arms export licences…

On Monday 6 July 2020, the UK introduced the first sanctions under its new Global Human Rights sanctions regime, targeting 47 individuals and 2 entities. The regulations setting out the sanctions are made under the Sanctions and Anti-Money Laundering Act 2018 (the “Sanctions Act”) and impose asset freezes and travel bans on individuals and entities responsible for or involved in serious violations of human rights. The Sanctions Act was introduced to allow the UK to…

This webinar addresses the particular needs of financial institutions facing a variety of new challenges in complying with international sanctions. Speakers from Baker McKenzie’s international sanctions and regulatory teams shall be discussing the development of increasingly complex and in some cases competing sanctions laws in different jurisdictions. Where do conflicts in sanctions laws arise, and how do financial institutions best navigate these? How does this align with or diverge from other regulatory obligations? What is…