Court orders law firm and partners to repay loans from couple – Legal Futures

Posted April 23rd, 2024 in agreements, guarantees, law firms, loans, news by sally

‘The High Court has ruled that a law firm and four of its former partners must repay money borrowed under loan agreements with a husband and his wife.’

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Legal Futures, 23rd April 2024

Source: www.legalfutures.co.uk

Parent and group company guarantees, dormant companies and adjudication enforcement – Practical Law: Construction Blog

Posted March 2nd, 2023 in dispute resolution, enforcement, guarantees, news, stay of execution by tracey

‘Can a dormant company enforce an adjudicator’s decision in its favour?.’

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Practical Law: Construction Blog , 1st March 2023

Source: constructionblog.practicallaw.com

Case Preview: Republic of Mozambique v Privinvest Shipbuilding SAL (Holding) and Ors – UKSC Blog

Posted January 27th, 2023 in appeals, arbitration, bribery, corruption, guarantees, news, Supreme Court by sally

‘In this post, Eilidh Douglas, Senior Associate in the ICE Disputes team at CMS, previews the case of Republic of Mozambique v Privinvest Shipbuilding SAL (Holding) and Ors, which was heard by the UK Supreme Court on 24 and 25 January 2023.’

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UKSC Blog, 26th January 2023

Source: ukscblog.com

TCC provides reminder of the meaning of paragraph 9(2) of the Scheme – Practical Law: Construction Blog

Posted August 19th, 2022 in construction industry, dispute resolution, guarantees, insolvency, news by tracey

‘I appreciate that some of you might be reading this blog on your summer holidays, so you may well have far better things to be doing with your time (ordering another piña colada perhaps?). I will therefore keep the blog short – what might be termed a “blogette”. As one would expect over the summer break, there haven’t been many reported TCC cases recently and so the case I want to discuss today is from June, namely ML Hart Builders Ltd (in liquidation) v Swiss Cottage Properties Ltd, which is a judgment of Mr Roger Ter Haar QC sitting as a deputy High Court judge.’

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Practical Law: Construction Blog, 17th August 2022

Source: constructionblog.practicallaw.com

Court draws adverse inferences from “deliberate destruction” of emails – Litigation Futures

Posted February 23rd, 2021 in electronic mail, estoppel, evidence, film industry, guarantees, news by tracey

‘A High Court has described the double deletion by a witness for the claimant of crucial emails on the eve of the trial of a film financing dispute as a “very serious misdeed”.’

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Litigation Futures, 23rfd February 2021

Source: www.litigationfutures.com

Yuanda v Multiplex – “ascertaining” damages pre-adjudication under ABI bond – Practical Law Construction Blog

Posted March 5th, 2020 in construction industry, contracts, damages, guarantees, news by tracey

‘The TCC has just handed down judgment in Yuanda (UK) Company Ltd v Multiplex Construction Europe Ltd and another, which will be of interest to the construction industry as it deals with how ABI-type performance bonds operate.’

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Practical Law Construction Blog, 4th March 2020

Source: constructionblog.practicallaw.com

Tecnicas Reunidas Saudia for Services and Contracting Co. Ltd. v. Korea Development Bank – Atkin Chambers

Posted February 26th, 2020 in chambers articles, guarantees, interpretation, news by sally

‘Rupert Choat and CMS Cameron McKenna Nabarro Olswang LLP were successful in obtaining summary judgment against Korea Development Bank (KDB) in the Technology and Construction Court on 14 February 2020. KDB was ordered to pay the full value of a demand guarantee (£8.2 million) plus interest and costs.’

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Atkin Chambers, 20th February 2020

Source: www.atkinchambers.com

Wife’s guarantee to bank unenforceable due to husband’s undue influence (Syndicate Bank v Dansingani) – 4 New Square

‘Banking & Finance analysis: Ben Archer, barrister, at 4 New Square, examines a High Court decision that a guarantee given by the first defendant company director to secure the company’s liabilities to the claimant bank was enforceable but a similar guarantee given by the second defendant company director, who was the first defendant’s wife, was not enforceable as her execution of it had resulted from his undue influence.’

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4 New Square, 7th February 2020

Source: www.4newsquare.com

The impact of foreign insolvency proceedings on English law bank guarantees: ascertaining foreign law, the scope of the European Insolvency Regulation and the effect of pending actions – 4 New Square

Posted October 29th, 2019 in EC law, enforcement, guarantees, insolvency, Ireland, news, notification, service by sally

‘Shail Patel acted for the successful defendants at trial in Bank of Baroda v Maniar [2019] EWHC 2463 Comm, in resisting claims by the bank on personal guarantees. The case raised a number of important points of European cross border insolvency law under the European Insolvency Regulation, and the English Court’s exercise of a foreign law judicial power.’

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4 New Square, 28th October 2019

Source: www.4newsquare.com

Legal advice privilege “survives” company’s dissolution – Legal Futures

‘Legal advice privilege (LAP) attaching to communications between a company and its lawyers survives the dissolution of the company, even if the Crown has disclaimed all interest in its former property, the Court of Appeal has ruled.’

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Legal Futures, 7th October 2019

Source: www.legalfutures.co.uk

Insolvency proceedings, guarantees and contractual pre-conditions – Hardwicke Chambers

Posted August 29th, 2019 in contracts, guarantees, insolvency, news, statutory demands by sally

‘If you are considering commencing insolvency proceedings against another party, do ensure that they actually owe you a debt before you do so. This point is so obvious that it barely needs stating. However, Martin v McLaren Construction Ltd serves as an example of how things can go badly wrong if it is not double-checked.’

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Hardwicke Chambers, August 2019

Source: hardwicke.co.uk

HMRC statutory demand upheld against guarantor – OUT-LAW.com

Posted January 25th, 2019 in bankruptcy, enforcement, guarantees, news, statutory demands by tracey

‘The High Court in England has ruled that a statutory demand based on a judgment debt is valid, despite the judgment debt arising from a guarantee which prohibited the creditor from enforcing the guarantee in bankruptcy proceedings. The High Court also clarified that judgment interest and costs do not form part of the debt and can be enforced separately.’

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OUT-LAW.com, 24th January 2019

Source: www.out-law.com

General Mediterranean Holding SA SPF v Qucomhaps Holdings Ltd [2018] EWCA Civ 2416 – Hardwicke Chambers

Posted December 12th, 2018 in contracts, guarantees, news, surety by sally

‘GMH provided loans to Qucomhaps of around $4,000,000 to assist it in purchasing the business of the aircraft manufacturer, Moravan. Repayment was secured by a personal guarantee from Mr Harkin, Qucomhaps’ managing director. Further GMH was granted fixed and floating charges over the assets of Moravan Aviation, a wholly owned subsidiary of Qucomhap which had acquired the assets of Moravan.’

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Hardwicke Chambers, 28th November 2018

Source: hardwicke.co.uk

Nearly, but not quite: the difficulties of resisting payment of an on-demand guarantee – Practical Law: Construction Blog

Posted May 17th, 2018 in banking, construction industry, fraud, guarantees, news by tracey

‘It is notoriously difficult to resist payment following a call on an on-demand guarantee or bond. Generally, nothing less than a seriously arguable case of fraud by the beneficiary will suffice. The stringency of this test is backed by strong policy arguments militating in favour of protecting the integrity of the banking system. However, even where a seriously arguable case of fraud is made out, the balance of convenience may weigh against injunctive relief, as demonstrated recently in Tetronics (International) Ltd v HSBC Bank plc.’

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Practical Law: Construction Blog, 16th May 2018

Source: constructionblog.practicallaw.com

Harbour View, contractor insolvency and the importance of a guarantee expiry date – Practical Law: Construction Blog

Posted February 21st, 2018 in construction industry, guarantees, insolvency, news, time limits by tracey

‘One of the interesting features of the recent decision of Coulson J in Ziggurat (Claremont Place) LLP v HCC International Insurance Company Plc is the effect on a guarantee of a contractor becoming insolvent many years after a construction project has been completed. In Ziggurat, the amended ABI model form of guarantee bond had not yet expired. This allowed the employer to make a claim under the guarantee arising out of the contractor’s insolvency, notwithstanding the fact that the contractor’s employment had already been terminated and the project had achieved practical completion.’

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Practical Law: Construction Blog, 21st February 2018

Source: constructionblog.practicallaw.com

Supreme Court rules on contractor’s liability for design – OUT-LAW.com

Posted August 4th, 2017 in construction industry, contracts, energy, guarantees, news by sally

‘A warranty provided by construction company MT Hojgaard (MTH) that the underlying works would have a service life of 20 years took precedence over conflicting terms in the contract, including adherence to industry standards, the UK’s highest court has ruled.’

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OUT-LAW.com, 3rd August 2017

Source: www.out-law.com

Law firm should have warned property investor clients of “Mafia risk”, CA rules – Legal Futures

‘A law firm with offices in Italy and England has lost its appeal against a High Court ruling that it was under a duty to warn British and Irish property investors of the risks of investing in a part of Italy associated with organised crime.’

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Legal Futures, 2nd August 2017

Source: www.legalfutures.co.uk

High Court: commercial tenant cannot assign lease to its guarantor – OUT-LAW.com

Posted March 23rd, 2016 in assignment, guarantees, insolvency, landlord & tenant, leases, news by tracey

‘Anti-avoidance provisions in the 1995 Landlord and Tenant (Covenants) Act prevent a tenant from assigning a lease to its guarantor, the High Court has ruled.’

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OUT-LAW.com, 21st March 2016

Source: www.out-law.com

Judge allows hotel companies to reassign leases without losing benefit of associated guarantees – OUT-LAW.com

Posted January 21st, 2015 in assignment, guarantees, hotels, landlord & tenant, leases, news, third parties by sally

‘A High Court judge has approved arrangements allowing companies within the Hilton group to reassign leases between themselves without the landlord losing the benefit of a guarantee granted by the parent company.’

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OUT-LAW.com, 20th January 2015

Source: www.out-law.com

Constructing safety nets – Hardwicke Chambers

Posted November 18th, 2014 in construction industry, contracting out, guarantees, insolvency, news by sally

‘Notwithstanding the economic upturn, many UK contractors are still tendering for work at negative margins; sustaining losses; and arguably operating one major dispute away from the brink. This article examines the common forms of security used by employers to safeguard performance by contractors, and/or protect against insolvency, and considers the degree of comfort they afford.’

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Hardwicke Chambers, 16th October 2014

Source: www.hardwicke.co.uk