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Acquisitions: clause in SPA construed as a covenant to pay, not an indemnity
When will a clause be considered a covenant to pay as opposed to an indemnity?
Read moreGood faith; contractual discretion
Morley (t/a Morley Estates) v Royal Bank of Scotland Plc [2020] EWHC 88 (Ch)
Read moreTales from COVID: Insurance in the time of coronavirus - Bankruptcy and insolvency
In conjunction with our US alliance partners, Hinshaw and Culbertson LLP, we have produced a series of 'informal chats' with the title 'Tales from Covid: Insurance in the Time of Coronavirus'.
Read moreLuxury and online marketplaces - the next chapter (Coty v Amazon)
On 2 April 2020, the CJEU ruled that storing infringing goods on behalf of a third-party seller, without knowing that those goods infringe trade mark rights does not constitute infringement, provided that the storing party does not pursue the aim of offering the goods for sale or putting them on the market.
Read moreCyber bytes - Issue 15
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCOVID-19: The Dairy Sector and Welsh health services granted temporary UK competition law exemptions and the European Commission issues first 'Comfort Letter' to Pharmaceutical Manufacturers
The UK Government has granted a temporary competition law exemption for certain collaboration within the dairy sector and Welsh health services and the European Commission has published its first 'comfort letter' to allow co-operation to ensure supplies of medicines for COVID-19 patients.
Read moreInsurance special purpose vehicles - the wheels of change in motion
On 22 May 2020 the PRA published updates to its approach to the authorisation and supervision of insurance special purpose vehicles (ISPVs).
Read moreTales from COVID: Insurance in the time of coronavirus - Event cancellation
In conjunction with our US alliance partners, Hinshaw and Culbertson LLP, we have produced a series of 'informal chats' with the title 'Tales from Covid: Insurance in the Time of Coronavirus'.
Read moreRPC Bites #9
Welcome to RPC Bites. Our aim in the next 2 minutes is to provide you with a flavour of some key legal, regulatory and commercial developments in the Food & Drink sector over the last fortnight… with the occasional bit of industry gossip thrown in for good measure. Enjoy!
Read moreLockdown inspections: Guidance from the RICS
The RICS has issued two sets of guidance to its members focusing on physical inspections. The guidance builds on the most recent government advice regarding appropriate conduct and the timetable for lifting restrictions.
Read moreThe commission omission? English High Court balances text and context in contractual interpretation
English law's flexible, rational, yet stable approach to contractual interpretation has been demonstrated again in Clark Street Associates v Norsk Titanium(1), a decision concerning commission payments.
Read moreCoronavirus – a bumpy road ahead for D&O
Globally, insurers are waiting to see how COVID-19 related exposures will impact their respective D&O books. RPC has accessed a number of pre-eminent insurance practices in the major claims centres to swap notes on the possible D&O exposures in their respective jurisdictions and how they envisage insurers might act in response.
Read moreTales from COVID: Insurance in the time of coronavirus - Business interruption
In conjunction with our US alliance partners, Hinshaw and Culbertson LLP, we have produced a series of 'informal chats' with the title 'Tales from Covid: Insurance in the Time of Coronavirus'.
Read moreGame Match - Football referees held not to be employed for tax purposes – the final whistle for HMRC?
In Professional Game Match Officials Limited v HMRC [2020] UKUT 147 (TCC), the Upper Tribunal (UT) confirmed that certain football referees and other match day officials were not employees of Professional Game Match Officials Ltd (PGMOL) and accordingly it did not have tax and NICs liabilities in respect of the officials in question.
Read moreCustoms and excise quarterly update May 2020
In this update we report on (1) temporary changes to customs authorisations during the coronavirus outbreak; (2) the government's plans to introduce 10 new freeports; and (3) a new liability for carrying out an operation or dilution on wine. We also comment on three recent cases relating to (1) refusal of permission to appeal an excise duty assessment out of time; (2) the customs classification of mobility scooters; and (3) liability to pay excise duty in relation to the movement of dutiable goods under a suspension regime.
Read moreDraft Fatal Accidents Act 1976 (Remedial) Order 2020: Second Report
On 18 May 2020, the commons Human Rights Committee published their second report on the reforms proposed to bereavement damages available in the UK.
Read moreCyber bytes - Issue 14
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreHong Kong Courts – Closing the GAP
The general adjourned period (GAP), during which the courts in Hong Kong were closed save for urgent and essential court business, started on 29 January 2020 with the early onset of COVID-19 in Hong Kong.
Read moreSports Ticker 13 – eSports, St Andrews and EFL salary caps
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreUpdate on the FCA's review of Defined Benefit transfer advice
The FCA has been looking to improve the quality of pension transfer advice for some time now. However, despite the crackdown on defined benefit transfers being announced as a strategic priority earlier this year, it appears that factors, such as Covid-19 have put the FCA's investigations into advice suitability on the back foot – for now, at least.
Read moreTo perform or not to perform? When tendering performance means actual performance
A consultant was alleged to be in material breach of a consultancy contract for refusing to supply his services. He responded to a notice of material breach by stating that he was willing to perform. However, the Court of Appeal held that this was insufficient to remedy the breach (Bains v Arunvill Capital Limited and others)(1).
Read moreCyber Bytes - Issue 13
Welcome to Cyber_Bytes, our bi-weekly roundup of key developments in cyber, tech and evolving risks.
Read moreCOVID-19 legal update – Your workforce: Could workers who can work from home (and their employers) break the law by returning to the workplace too soon?
The government has stated that that those who can work from home should do so and those who cannot should go to work. Is it an offence to go to the place of work when it is possible to work from home?
Read moreTop 10 for the 10s Claims against surveyors and valuers
The 2010s started with an influx of valuation claims, primarily involving lenders seeking to recoup losses suffered as a result of the financial crisis, loans being made to sub-prime borrowers and the declining property market.
Read moreHenkes – FTT has jurisdiction to determine mixed questions of fact and law on application for closure notice
In Henkes v HMRC [2020] UKFTT 159 (TC), the First-tier Tribunal (FTT) decided that it has jurisdiction to determine mixed questions of fact and law on an application for a closure notice and appeal against an information notice.
Read moreInternational risk team - What’s my part in all this?
One of the most common issues to arise in offshore energy construction claims is the application of WELCAR’s Defective Parts clause.
Read moreCorporate tax update - May 2020
Welcome to the latest edition of our corporate tax update, written by members of RPC's tax team. This month's update reports on the key developments from April 2020. April was not a “bumper” month for corporate tax developments but (as you would expect) there have been some Covid-19 related developments of note. This month's report also includes a summary of the Supreme Court's decision in Zipvit (on input VAT recovery). We hope you, your family and friends are all staying safe
Read moreAdams v Carey – the judgment – over 2 years in the making, where does it leave the SIPP market
More than two years since the trial in March 2018, the High Court has dismissed the claim against Carey Pensions on all counts. The landmark case is sure to have far reaching ramifications for the SIPP industry and beyond.
Read moreCatastrophe bonds: a storm in a teacup or a floody good opportunity?
Catastrophe bonds are a type of insurance-linked security. They offer an alternative to reinsurance policies and allow insurers and reinsurers to offload a proportion of their risk. As the name suggests, they are often triggered by damage that an insured suffers as a result of a natural catastrophe such as a hurricane, earthquake or flood, but can also be designed to respond to events such as a pandemic.
Read moreCOVID-19 Secure – Government Guidance released
Following Prime Minster Boris Johnson's announcement on Sunday 10 May about limited easing lockdown restrictions, the government published various guidance documents to businesses on 11 May to assist with the process of returning to work.
Read moreWhen will reference to a document in a witness statement waive privilege in that document
Tread carefully when considering whether and how to reference privileged documents; "deployment" of a document may draw back the cloak of privilege but a "mere reference" may not. Context will be key.
Read moreFootball referees held not to be employed for tax purposes – the final whistle for HMRC?
Whether an individual is employed, or self-employed, for tax purposes is a question that has – in the era of the 'gig' economy and given the anticipated extension of the off-payroll working (IR35) rules – never required closer examination.
Read moreSIPP and SSAS providers face further test following in-specie ruling in favour of HMRC
The Upper Tier Tribunal has overturned a decision of the First Tier Tribunal and found in favour of HMRC in a case that is likely to place further pressure on the SIPP and SSAS markets.
Read moreLooney – Termination payments were trading receipts
In Kieran Looney & Anor v HMRC [2020] UKUT 0119 (TCC), the Upper Tribunal (UT) has dismissed an appeal against the First-tier Tribunal's (FTT) decision that a termination payment and other payments made under a contract entered into by a partnership to provide management training, were trading receipts of a partnership.
Read moreReturn of the MAC (clauses): renegotiating or exiting your supply chain contracts
As more challenges arise from the current pandemic, suppliers and customers in the retail supply chain will be looking at their contracts to see how best to navigate the challenges they face. This may involve reviewing existing supply chain arrangements and seeing if there is a way to renegotiate or exit existing contracts.
Read moreRICS Guidance and Key Developments for Surveyors: #2 Coronavirus, valuations and "material uncertainty"
The recent lockdown has posed a serious challenge to the UK housing market, with the present and future potential impact of COVID-19 on the market inviting comparisons to the post-2008 recession.
Read moreInternational risk team: Aggregation issues in Covid-19 related claims
A lot of electronic ink has been used by lawyers to debate whether coronavirus on the surface of physical things constitutes damage. Although that may have seemed a crucial question some weeks ago before the lock-down it is probably largely academic now.
Read moreTips for minimising costs on Part VII transfers
The Covid-19 crisis might cause insurers to seek to free up capital by disposing of portfolios of legacy business. This blog sets out some tips for carrying out Part VII transfers whilst under increasing costs constraints.
Read moreFOS complaints and hindsight – categorical statement from the Chief Ombudsman
The FCA has been producing a range of temporary measures with the aim of ensuring that firms can work at pace during the pandemic for the benefit of customers. However, where procedures are bypassed or corners cut what will FOS do in response? The response from FOS to that questions raises another – the use of hindsight when coming to its decisions.
Read moreTax Bites - May 2020
Welcome to the first edition of RPC's Tax Bites providing monthly bitesized updates from the tax world.
Read moreThe ASA bites back – Burger King 'Rebel Whopper' ads ruled to be misleading and in breach of advertising rules
At the start of the year, Veganuary hit the headlines, with the British public challenged to ditch animal by-products in favour of a plant-based diet for the month of January.
Read moreThe ASA bites back – Burger King 'Rebel Whopper' ads ruled to be misleading and in breach of advertising rules
At the start of the year, Veganuary hit the headlines, with the British public challenged to ditch animal by-products in favour of a plant-based diet for the month of January.
Read moreSports Ticker 12 – F1 restart, virtual NFL Draft and RFL emergency loan
Welcome to the latest edition of the RPC Sports Ticker - providing fortnightly bite-size updates from around the sports industry.
Read moreWhat are good grounds for appeal in insolvency applications?
Applying for permission to advance fresh evidence on appeal is a tricky application, which has had varying degrees of success in the courts. Zheng Yougxiong v Gate Ventures Plc(1) is a useful example of the application of the criteria, albeit in the context of insolvency proceedings.
Read moreA look at Lloyd's Lab
Welcome to Insurance Covered! The podcast that looks at the inner workings of the insurance industry with the help of expert guests. This week we are taking a look at Lloyd's lab, the renowned insure-tech startup programme. Our guest is Ed Gaze, who is the Lab Manager.
Read moreCoyle – Upper Tribunal refuses permission to appeal out of time
In Michael Coyle t/a Coyle Transport v HMRC [2020] UKUT 0113 (TCC), the Upper Tribunal (UT) set aside the decision of the First-tier Tribunal (FTT) for errors of law, but reached the same conclusion as the FTT and refused the taxpayer permission to appeal out of time.
Read moreRegulated Activities Order amendments for the new Bounce Back Loan Scheme
On 1 May 2020, the Financial Services and Markets Act 2000 (Regulated Activities) (Coronavirus) (Amendment) Order 2020 was published and came into force on 4 May 2020.
Read moreThe Solicitors Disciplinary Tribunal: new rules, new game?
There are few things that strike fear into the heart of a solicitor more than the prospect of being sent to the Solicitors Disciplinary Tribunal. This article looks at its new rules of procedure.
Read moreArbitrable disputes in the context of winding up proceedings
This note discusses two recent decisions of the Court of Appeal of Singapore that dealt with the standard of review to be applied in winding up proceedings where a debtor asserts that there is a dispute which parties agreed to resolve by way of arbitration.
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