The following Commercial practice note provides comprehensive and up to date legal information covering:
This Practice Note explains the implications of IP completion day in relation to contract breach and remedies. The implementation period put in place to enable the UK to transition away from the EU’s laws and institutions ended at 11 pm (GMT) on 31 December 2020. At that point in time (referred to in this Practice Note as ‘IP completion day’) there were immediate changes that impact contracts in the UK. This Practice Note explains the implications of this change in relation to contract breach and remedies and links through to deeper content where you can find out more.
The law relating to the formation and interpretation of contracts in England and Wales is largely governed by common law which has not been directly impacted by IP completion day. The common law principles which determine what is a breach of contract and the remedies available within the UK have not changed following IP completion day.
On 24 December 2020, the UK and the EU agreed a Trade and Co-operation Agreement, provisionally effective from 1 January 2021 (TCA). The TCA does not fundamentally change the impact that the end of the implementation period has on contract breach and remedies. For more information on the TCA, see: LNB News 24/12/2020 76 and LNB News 28/12/2020 12.
The extent to which UK courts and
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE) insurance premiums. The relevant CPR
This Practice Note considers claims for damages for breach of statutory duty. For guidance on claims for damages for a negligent breach of duty of care outside a statutory duty, see Practice Notes:•Negligence—when does a duty of care arise?•Negligence—when is the duty of care breached?Breach of
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