Insurance & Reinsurance analysis: The latest coronavirus (COVID-19) BI judgment to be handed down in the English courts deals with aggregation of losses under the Aon Trio policy wording. The claim was pursued by Pizza Express, whose 475 restaurants were all subject to coronavirus lockdown restrictions in 2020. The question before the court was not one of coverage but whether, if coverage could be established, the relevant £250,000 sublimit in the Policy applied in the aggregate to all Pizza Express’s losses arising from one source or original cause. On the insurers’ case, this limited the value of Pizza Express’s claim to £250,000, while on Pizza Express’s case the insurer would be liable to indemnify Pizza Express in full to the tune of £178m. The court determined that insurers were right to argue that the aggregating provision contained within the definition of ‘Occurrence’ applied to the clauses in question, meaning that Pizza Express’s covered losses under the Policy would be aggregated by reference to a single source or original cause. Written by Aaron Le Marquer, head of policyholder disputes at Stewarts.

Many businesses are closing their offices or recommending their staff work from home in an attempt to slow the spread of coronavirus (COVID-19). This will mean parties may not be able to meet in person to execute contracts. The Law Society guidance The Law Society provides guidance on how to execute documents when one or more parties to a contract are not physically present. It envisages exchanging copies of signed signature pages via email: Law Society Guidance: Execution of documents by virtual means. The available methods will depend on whether the document to be executed is a deed, guarantee to be executed as a deed or a contract for the sale and transfer of real property. Option 1 is appropriate for the execution of

Background The coronavirus (COVID-19) pandemic has led to unprecedented social distancing measures and lockdowns being introduced by governments around the world. In the UK, this has had a significant impact on the ability of the courts, and court users, to carry out their normal functions. In response, the courts are operating under new protocols and procedures—see Practice Note: Coronavirus (COVID-19)—Changes to the court process in insolvency proceedings [Archived]. To supplement these changes, and in order to deal with specific challenges relevant to insolvency proceedings, a new Temporary Insolvency Practice Direction ( TIPD ) was introduced with effect from 6 April 2020—see: Issue 96 of Insolvency Service’s Dear IP published, LNB News 06/04/2020 90. The TIPD expired on 1 October 2020 and was replaced by the Temporary Insolvency Practice Direction Supporting the Insolvency Practice Direction (in force from 1 October 2020 until 31 March 2021). This has since been replaced by further temporary practice directions, the most recent of which expires on 30 September 2021—see Practice Note: The Temporary Insolvency Practice Direction Supporting

This week's edition of Insurance & Reinsurance weekly highlights includes: FCA rejects business coronavirus (COVID-19) claim deadline extension application; BOC Aviation reaches settlement with Cathedral Capital over stranded planes, plus key cases and dates for your diary.

This month has seen a large number of competition authorities continuing to take action in relation to the coronavirus (COVID-19) outbreak that impacts merger control reviews, and a reminder of the new simplified procedure in the Republic of Ireland that comes into force next month. Coronavirus (COVID-19) Responses—impact on merger control reviews Competition authorities around the world have adopted measures that impact merger control reviews, although some authorities have started to re-commence normal operations, for example with deadline suspensions now having ended and timetables are returning to normal in certain countries, for example, Austria, Paraguay, Serbia and Spain. In order to keep track of these measures in this fast-moving and unprecedented situation, we have published a document that summarises these developments. See, MJ merger control–competition authorities and coronavirus (COVID-19) status [Archived] for further information. Republic of Ireland—new simplified notification process in force next month As a reminder, the new simplified notification process in the Republic of Ireland will come into force on 1 July 2020. The new simplified

ARCHIVED: This Practice Note has been archived and is not maintained. The coronavirus (COVID-19) pandemic and resulting lockdowns and social distancing measures introduced by the UK government have had a profound effect on businesses and the economy. On 20 March 2020, the government announced that businesses including restaurants, pubs and leisure centres must close, and on 23 March 2020 a full lockdown was introduced, sending huge parts of the private sector into hibernation. The forced closure of businesses has threatened the financial health of many previously successful companies, while for those already struggling it has proved to be the tipping point. In order to mitigate the economic consequences of coronavirus and keep the economy on life support, the government introduced a range of measures, from financial support initiatives to legislative reform. For further details of the financial support available, see Practice Note: Coronavirus (COVID-19)—summary of government financial support to businesses. In order to protect commercial tenants, the government announced its intention

Many businesses are closing their offices or recommending their staff work from home in an attempt to slow the spread of coronavirus (COVID-19). This will mean parties may not be able to meet in person to execute documents. What is a deed? A deed is a written instrument which is executed with the necessary formality and by which an interest, right or property passes or is confirmed, or an obligation binding on some person is created or confirmed. Deeds should be contrasted with simple contracts under English law that (unlike a deed) may be made in writing without the formalities required for a deed or orally.  Deeds are required for: • powers of attorney • leases and transfers of land • mortgages and charges over land • appointment of trustees They are also often used for guarantees or where there is no consideration given in exchange for a contractual

This week's edition of Property Disputes weekly highlights includes High Court decisions on the ‘fault grounds’ for opposing a new lease under the Landlord and Tenant Act 1954 and on drainage rights, a summary of recent measures and guidance on coronavirus (COVID-19), an analysis of the Supreme Court’s judgment in the coronavirus business interruption test case, and Upper Tribunal decisions on residential service charge demands and the effect of the acquisition of the right to manage.

With employees largely working from home in 2020 and 2021 and outside of traditional office working hours, what does this blurring of home and work life mean for the ownership of ‘creative’ works? The coronavirus (COVID-19) pandemic changed the way that we work in that more of us work outside of the physical office, at unconventional times and with our own computer equipment. In doing so, it has raised the profile of the question of who owns materials created ‘for work’ or ‘on the job’. The pandemic has not changed what you need to consider in determining who owns a copyright work in these circumstances. The starting point for the ownership of copyright materials is section 11 of the Copyright, Designs and Patents Act 1988 (CDPA 1988),

Banking & Finance analysis: Collateralised loan obligation (CLO) transactions have long been a prolific investor in sub-investment grade corporate debt both in Europe and the US. The combination of the outbreak of SARS-CoV-2 and the related respiratory disease (coronavirus (COVID-19), the impact of coronavirus on such corporate debt and the CLO market’s reliance on such corporate debt has, very quickly, created a perfect storm affecting various aspects of the European CLO market. Claire Puddicombe, David Quirolo, and Daniel Tobias, all partners at Cadwalader Wickersham & Taft LLP discuss the impact of COVID-19 on the European CLO market.

FORTHCOMING CHANGE: proposed temporary relaxation of the statutory residence test: On 9 April 2020, a letter from the Chancellor to the Chair of the Treasury Select Committee was published, which outlined a proposed temporary change to the statutory residence test so that any period(s) between 1 March and 1 June 2020 spent in the UK by individuals working on coronavirus-related activities will not count towards the UK residence tests. The qualifying criteria will therefore be designed so that the relaxation of the rules is tightly targeted and supports only those people whose skill-sets are currently required, minimising the risk of abuse. See: COVID-19: temporary changes to the statutory residence test. Further details on the eligibility and scope of this temporary relaxation will be provided and this change will be included in Finance Bill 2020. The number of days spent in the UK is a fundamental element of the statutory residence

ARCHIVED: This Practice Note has been archived and is no longer maintained. It tracked the progress of EU legislative proposals and consultations relevant to the life sciences sector between 2019–2022 which were independent of events specifically related to the coronavirus (COVID-19) pandemic and Brexit during that period which have their own dedicated, archived trackers. This tracker is divided into the below sections: • Legislation • Consultations To track the progress of current EU legislative proposals, consultations and developments, as well as significant cases, which are relevant to the life sciences sector, see Practice Notes: Life sciences tracker—EU, Life sciences cases tracker—EU and Patents tracker—EU. To track the progress of current UK legislative proposals, consultations and developments, as well as significant cases, which are relevant to the life sciences sector, see Practice Notes: Life sciences tracker—UK and Life sciences cases tracker—UK. For a summary listing all life sciences trackers, see: Trackers (Life Sciences)—overview. For older archived items about developments in the life sciences or those related to the coronavirus (COVID-19) pandemic or Brexit,