Apart from specific requirements imposed to minimise the chance of loss, the insurer may also insist on more general obligations, such as a clause requiring the insured to take reasonable care to avoid liability, loss or damage.
Since the introduction of the Insolvency Act 1986 (the 1986 Act), there has been a standard way of dealing with the leasehold premises of a company in administration as part of the sale of the business. Typically, the business sale agreement provides for the purchaser to occupy the leased premises on the basis of an …
Continue reading “Administrators, landlords and tenants: three key cases”
In IHL169 we wrote of the effect of the House of Lords judgment in Transfield Shipping Inc v Mercator Shipping Inc [2008] (also referred to as The Achilleas), which cast some doubt on the application of the traditional rule on remoteness set out in Hadley v Baxendale (1854). In short, Transfield found that types of …
Indian Legislature has ostensibly put into place a cohesive structure for alternative dispute resolution (ADR) mechanisms, primarily through the Indian Arbitration and Conciliation Act 1996 (the 1996 Act). The 1996 Act is wide in its scope and within its ambit covers arbitrations, as well as conciliations. India, however, is still not a preferred destination for …
Continue reading “Proposed amendments to arbitration law in India: implications and effect”
The introduction of the Points-Based System (PBS) in November 2008 was the biggest change to UK immigration law for 45 years. Since the introduction of the PBS, the UK Border Agency (UKBA) has sought to re-align responsibility for non-European Economic Area (EEA) nationals from the UKBA to UK employers and the migrants themselves. With the …
In February 2010 the Sentencing Guidelines Council (the SGC) issued definitive guidelines to courts on imposing appropriate sentences for corporate manslaughter and health and safety offences causing death. The SGC states that fines imposed on companies found guilty of corporate manslaughter should not fall below £500,000, while fines in respect of health and safety offences …
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The Waste Batteries and Accumulators Regulations 2009 (the 2009 Regulations) are the latest piece of legislation to come into force in the UK deriving from the European producer responsibility legislation. The staged implementation of the 2009 Regulations is now complete and the final obligations came into force on 1 February 2010. The Regulations are based …
An improvement in the liquidity of banks, as well as the need for an additional injection of money, became crucial for Ukrainian banks in the aftermath of the recent global financial crisis. An increase in the number of non-performing loans (NPLs) negatively impacted the overall liquidity of Ukrainian banks by forcing them to hold mandatory …
Continue reading “Legal and tax treatment of the sale of non-performing loans in the Ukraine”
It was hardly surprising and perhaps inevitable given the current economic and financial crisis, coupled with a general election, that the government would attempt to find ways to raise funds to repay the public debt, without adversely affecting the majority of voters. One such method devised by the Labour government was to restrict tax relief …
Continue reading “Will high-earners suffer further wealth reductions?”
the Islamic finance and banking industry has experienced tremendous development in the past three decades. The innovation of various new products and instruments has been a symbol of creativity and interaction between banking consumers, Muslim scholars, bankers, and accounting and legal practitioners. What began as a pioneering idea has now become a well-known industry that …
Continue reading “What went wrong? Credit crisis and Islamic finance”
The Carbon reduction commitment Energy Efficiency Scheme (the CRC) became effective on 1 April 2010. A full review of this has already been included in IHL179. However, the CRC will have important consequences that need to be considered by corporate lawyers and, in particular, in relation to corporate transactions, such as M&A and private equity …
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Amid the coverage of the UK general election and its aftermath, the activities of the Scottish Parliament and Scottish government have dropped beneath the radar. Of course, this will only be a temporary absence, particularly since the Scottish media and political parties will soon have to switch their focus to next year’s Scottish Parliamentary elections. …
Continue reading “Proposals for regulating the sale of food, drink and tobacco”