It’s been two years since the escalation of the ongoing conflict in Ukraine, which has led many companies with business operations or personnel in Eastern Europe to adjust, restructure, or exit locations in Russia. Meanwhile,...more
The UK Law Commission’s review of the Arbitration Act 1996 has concluded with the publication of its final recommendations. The final recommendations present a welcome set of practical changes that fine-tune legislation that...more
The UK Law Commission is currently undertaking a review of the Arbitration Act 1996, the principal legislation governing arbitrations in England, Wales, and Northern Ireland, to ensure it is as “clear, modern, and efficient...more
The conflict in Ukraine and actions taken by and against Russia continue to wreak havoc on global business operations, causing supply chain disruptions, interruptions in operations, and the loss of assets located abroad. With...more
In response to sanctions adopted by the United States, the European Union, and other countries in relation to Russia’s operations in Ukraine, the Russian government is taking steps to adopt measures affecting foreign...more
The Intergovernmental Panel on Climate Change has declared that “[i]t is indisputable that human activities are causing climate change, making extreme climate events, including heat waves, heavy rainfall, and droughts, more...more
Directors have significant ongoing duties towards the company they lead, including taking the changing factual landscape into account. This should include learning lessons from the recent disruption of global supply chains....more
The UK Law Commission has announced that it will carry out a review of the Arbitration Act 1996, the principal legislation governing arbitrations in England, Wales, and Northern Ireland. The Law Commission has stated that its...more
A group of hospitality policyholders failed in their attempt to obtain cover under a business interruption policy as it was determined, in an ad hoc arbitration, that the UK central government did not constitute “a competent...more
11/23/2021
/ Arbitration ,
Business Interruption ,
Business Losses ,
Commercial Insurance Policies ,
Coronavirus/COVID-19 ,
Denial of Insurance Coverage ,
Infectious Diseases ,
Insurance Claims ,
Insurance Litigation ,
International Arbitration ,
Policy Exclusions ,
Policy Terms ,
UK
The UK Supreme Court issued a policyholder-friendly decision earlier this year on the Financial Conduct Authority’s business interruption test case. The judgment will apply to policyholders’ claims on a case-by-case basis....more
The UK Supreme Court handed down its judgment on 23 April 2021 in Burnett or Grant v International Insurance Co of Hanover Ltd [2021] UKSC 12, which arose within the context of a “deliberate acts” exclusion in an employer’s...more
On 20 May 2021, the UK government published a consultation paper in which it set out its proposals to revise the current regime for insolvent insurers (excluding Lloyd’s underwriters). The proposals seek to clarify and...more
The UK Supreme Court in the Financial Conduct Authority’s business interruption test case has overturned a decade-long standing judgment relating to causation and how the “trends” clauses should be interpreted....more
This LawFlash provides a summary of the UK Supreme Court’s final decision in the FCA Business Interruption test case. The judgment is more policyholder friendly than the High Court judgment, particularly in relation to...more
This LawFlash provides a summary of the judgment of Lord Justice Flaux and Mr. Justice Butcher as it relates to the determination of the prevalence of coronavirus (COVID-19) under a particular policy. The court was somewhat...more
10/2/2020
/ Burden of Proof ,
Business Interruption ,
Business Losses ,
Consumer Insurance Products ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Evidence ,
Financial Conduct Authority (FCA) ,
Infectious Diseases ,
Insurance Claims ,
Policy Terms ,
UK
The eagerly anticipated judgment of Lord Justice Flaux and Mr. Justice Butcher in the Financial Conduct Authority’s (FCA’s) test case in relation to cover afforded under various business interruption wordings has now been...more
9/18/2020
/ Business Interruption ,
Business Losses ,
But For Causation ,
Commercial Insurance Policies ,
Coronavirus/COVID-19 ,
Financial Conduct Authority (FCA) ,
Hotels ,
Hurricane Katrina ,
Insurance Claims ,
Policy Exclusions ,
Policy Terms ,
Property Damage ,
UK
The Corporate Insolvency and Governance (CIG) Act 2020, which was enacted on 25 June 2020, introduces a number of permanent changes to the insolvency and restructuring framework in the United Kingdom, some of which have...more
7/4/2020
/ Aircraft Equipment ,
Airlines ,
Aviation Industry ,
Cape Town Convention ,
Corporate Governance ,
Corporate Insolvency and Governance (CIG) Act 2020 ,
Corporate Insolvency Regime ,
Debt Restructuring ,
Financial Distress ,
Supply Contracts ,
UK
The UK Corporate Insolvency and Governance Bill, currently progressing through UK Parliament, will have an impact on various stakeholders in the aviation industry once enacted, due to its moratorium, supply contract, and...more
Through the High Court test case, the UK Financial Conduct authority hopes to obtain legal clarity on business interruption insurance during the coronavirus (COVID-19) pandemic. ...more
An International Centre for Settlement of Investment Disputes (ICSID) tribunal has recently dismissed the jurisdictional challenges of the Republic of Cyprus and is pushing ahead with a multiparty arbitration commenced by...more
6/4/2020
/ Arbitration ,
Banks ,
Bilateral Investment Treaties ,
Bondholders ,
Court of Justice of the European Union (CJEU) ,
Cyprus ,
EU ,
Foreign Jurisdictions ,
ICSID ,
International Arbitration ,
Restructuring
The UK Financial Conduct Authority (FCA) on May 15 invited policyholders of business interruption (BI) insurance that have been affected by the coronavirus (COVID-19) pandemic, and have had a claim under their insurance...more
During the coronavirus (COVID-19) pandemic, it is important for policyholders to remember that key insurance principles, including the principle of aggregation in the United Kingdom, could make a significant difference to any...more
As the coronavirus (COVID-19) pandemic evolves, governmental executive and legislative authorities are taking actions in the form of emergency declarations and proposed legislation that could improve a company’s ability to...more
As the coronavirus (COVID-19) pandemic continues to evolve, regulatory and legislative authorities are taking actions, in the form of directives and orders, that could directly impact companies’ business interruption...more
The smooth functioning of international civil legal proceedings across European Union (EU) national frontiers has been one of the benefits of EU membership. With the United Kingdom (UK) now departing from the EU, are...more
1/31/2020
/ Cross-Border ,
EU ,
Foreign Jurisdictions ,
International Business Courts ,
International Litigation ,
Jurisdiction ,
Member State ,
Regulatory Requirements ,
Transitional Arrangements ,
UK ,
UK Brexit ,
Withdrawal Agreement