The following Insurance & Reinsurance practice note provides comprehensive and up to date legal information covering:
Despite economies around the world receiving unprecedented governmental support in this challenging period, the financial repercussions of the pandemic have been looming over the fate of many businesses, forcing some to restructure or suspend their activities and others to close their operations permanently. While it is difficult to make forecasts of the long-term effects of the current circumstances on the M&A world, it is expected that investors and corporates will look for opportunities to purchase distressed businesses to turn them around or integrate them within their existing operations. Recent developments in the M&A market shows that, in fact, this trend has already started.
HWF conducted a detailed exercise interviewing 17 insurers in the market in order to produce a paper that provides real insight and clear and extensive guidance of how warranty and indemnity (W&I) insurance and contingent risk insurance policies will be used in distressed transactions, outlining the available solutions as well as necessary requirements to get strategic insurance cover.
For distressed transactions, three insurance options can be offered:
Traditional W&I cover can be used when:
seller and/or management give warranties under the sale and purchase agreement (SPA) or warranty deed (WD)
adequate disclosure is provided by the sellers on the contents of the warranty suite in the SPA or WD
virtual data room or
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
The principle of transferred maliceIf a person has a malicious intent towards X and, in carrying out that intent, injures Y, he is guilty of an offence. So, if D shoots at A with intent to kill him but kills B by mistake it is murder; the mistake as to the identity of the victim is irrelevant as D
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
For guidance on the basic features of the doctrine of estoppel and the different classifications it has been subject to, see Practice Note: Estoppel—what, when and how to plead and related content.Promissory estoppel—what is it?Where A has, by words or conduct, made to B a clear and unequivocal
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.