Welcome to the weekly highlights from the Lexis®PSL Construction team for the week ending 8 December 2016. Top stories this week: (1) At the FIDIC annual users’ conference we learned more about the changes in the upcoming new 2017 editions; (2) The JCT Intermediate Building Contract family 2016 was released; (3) The government published a £500bn National Infrastructure and Construction Pipeline; and (4) The court refused to enforce an adjudication decision as there was doubt as to whether a contract existed (Dacy Building v IDM Properties).
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When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
What is a res judicata?A res judicata is a decision given by a judge or tribunal with jurisdiction over the cause of action and the parties, which disposes, with finality, of a matter decided so that it cannot be re-litigated by those bound by the judgment, except on appeal.Final judgments by
When is quantum meruit and quantum valebat relevant?Claims in quantum meruit (value of services) and quantum valebat (value of goods) arise in diverse situations ranging from where contractual terms are silent on issues of payment to where there is no contract at all (Serck v Drake & Scull).General
Overlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover, whether deliberately or otherwise.Examples include the situation where the insured takes the benefit of other insurance arranged by another party or where, in the commercial world, risk
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