As the Russia-Ukraine conflict continues, claims under aviation insurance policies have been a key focus, with a flurry of claims recently issued in the English, US, and Irish courts, and secondary market in the trading of...more
In this article we shine the spotlight on an emerging risk for directors - that of direct claims against them relating to acts or omissions addressing climate change. We briefly consider this fast developing area of...more
A manager or executive under investigation, either internally by the company, or by an authority, should understand the protection offered by D&O policies and company indemnity contracts, and in particular what those products...more
Indemnification and insurance products: understanding the gaps The two key protection products available to senior managers and directors are D&O insurance and indemnities. There are legal restrictions governing what...more
In a tower of insurance policies where the primary policy did not contain a choice of law or jurisdiction clause, a clause in the excess policies that purported to follow the choice of law and jurisdiction in the primary...more
Supreme Court restates the SAAMCO principle in relation to damages for negligent professional advice....more
The Court of Appeal has today upheld the joint appeals by The Prudential Assurance Company Limited (PAC) and Rothesay Life Plc (Rothesay) against Snowden J’s refusal to sanction the transfer of a portfolio of annuities from...more
Incorrect advice given by an auditor as to the accounting treatment of interest-rate swaps did not make it liable for the close-out costs of those swaps which became necessary, following the application of the correct...more
A building society sued its auditors for the close-out costs of interest rate swaps entered into on reliance on advice that they could be accounted for as hedges. The High Court found negligence, which was the cause of the...more
A warranty in a receivables financing contract that BP was not prohibited from disposing of the receivable was not breached by a clause in the underlying oil sale contract prohibiting assignment without the other party’s...more
In R (on the application of Aviva Life & Pensions (UK) Ltd) v Financial Ombudsman Service & ors [2017] EWHC 352 (Admin), the Administrative Court held that a decision of the Financial Ombudsman that an insurer’s avoidance of...more
A settlement that required the defendant to pay a sum into an escrow account which would be paid out to the claimant in certain agreed circumstances did not itself ascertain a loss for the purposes of the defendant’s...more
Anthony McGill v The Sports and Entertainment Media Group & ors [2016] EWCA Civ 1063, 4 November 2016 -
The Court of Appeal has held that a football agent could recover damages on a loss of chance basis from a rival...more
The High Court held that a mistaken reference in an interest rate swap confirmation to the 1992 ISDA Master Agreement instead of the 2002 ISDA Master Agreement could not be corrected by interpretation. However on the facts...more