Repudiation

News & Analysis as of

Does a shipowner have to sell its ship in order to mitigate its loss?

The greatly anticipated Supreme Court judgment on the New Flamenco is due to be heard later this year. The decision will address principles of mitigation and the assessment of damages for repudiatory breach of a time...more

Arbitrator's award of third party funding costs upheld by High Court

A recent High Court decision upheld a costs award in arbitration proceedings that included third party funding costs. The Court concluded that the arbitrator had wide discretion to award costs, which included the award of...more

Court of Appeal rules on indefinite demurrage claims

MSC Mediterranean Shipping Company S.A. v. Cottonex Anstalt - [2015] EWHC 283 (Comm) - A Court of Appeal decision handed down on 27 July 2016 of this week ruled that demurrage on detained containers, which could not...more

2016 Summer Review: M&A legal developments

We set out below a number of interesting English court decisions which have taken place and their impact on M&A transactions. This review looks at these developments and gives practical guidance on their implications....more

Termination For Repudiatory Breach: Do Contractual Notification Provisions Apply?

A party who terminated a contract for common law repudiatory breach was not obliged to follow contractual termination provisions (including as to a cure period and notice). In Vinergy International (PVT) Ltd v Richmond...more

Employer May Terminate Pre-Hire Agreement with Union, Sixth Circuit Rules

On April 21, 2016, resolving a situation not previously decided by the Sixth Circuit Court of Appeals, the court held that a construction company that was a party to a pre-hire collective bargaining agreement lawfully...more

When Mitigation Leads To A Profit, Who Should Benefit?

If, following a breach of contract, the innocent party benefits from its mitigation, then, ordinarily, that benefit will reduce the loss that can be claimed for breach. In Fulton Shipping Inc of Panama v Globalia Business...more

"Many Thanks Myles, Much Appreciated" – Lessons In Audit Rights, Repudiatory Breach And Informal Variation

In a dispute between an insurer and its claims handler, issues concerning the right to access files and data arose which are common to many outsourcing or data-processing arrangements. It was held that an insurer was not...more

Mitigation and the assessment of damages on early redelivery – “The New Flamenco”

Mitigation and the assessment of damages on early redelivery – “The New Flamenco” - Assessing the level of damages recoverable following the early redelivery of a vessel under a time charter can be a complex area of law...more

The challenge of mitigating your losses where there is no available market – ‘The New Flamenco’

Mitigation of damage where there is no available market is a difficult area of law and can be challenging. As the Court of Appeal recognised recently in its judgment in The New Flamenco, “it is notoriously difficult to lay...more

2015 Half-year in review M&A legal developments

We set out below a number of interesting English court decisions and market developments which have taken place and their impact on M&A transactions. This review looks at these developments and gives practical guidance on...more

Guarantors’ “Lost Profits” Completely Offset Lender’s Deficiency Claim

Believe it or not, lenders can breach loan agreements too…and when they do, there can be significant consequences. In Great Western Bank v. LJC Dev., LLC, 726 Ariz. Adv. Rep. 21 (Ariz. Ct. App. Nov. 10, 2015), the Court of...more

LLP Agreements and Repudiatory Breach

This OnPoint reports on a recent important High Court decision ?limiting the remedies available for breach of a UK LLP agreement. Generally, in contract law, if a party to a contract commits a breach which is...more

Manufacturing Contracts in Distress

The automotive industry has recently enjoyed a strong period of sales growth and productivity. But even during this period, some manufacturers and raw materials suppliers continue to face pressures presented by financially...more

Charterers held to have lost right to cancel where revised loadport orders given

ST Shipping & Transport Inc v Kriti Filoxenia Shipping Co SA [2015] EWHC 997 (Comm) - Charter terms: The charter, on BPVOY3 form, provided that subject to the provisions of clause 24, the vessel would proceed to...more

Harrison Decision: Cabot Oil Denied Equitable Extension of Oil and Gas Lease

The decision marks another departure by the Pennsylvania Supreme Court from “mainstream” oil and gas jurisprudence. On February 17, the Pennsylvania Supreme Court (the Court) unanimously ruled that state law does not...more

Third Circuit Clarifies Time Limits for Joint Authorship Copyright Claims, and Bars District Courts from Canceling Copyright...

The U.S. Court of Appeals for the Third Circuit has announced several bright-line rules relating to copyright law in the important field of joint authorship. The first rule is that the statute of limitations for joint...more

Reconsidering Repudiations of Contracts: Recent Developments

A repudiation of a contract is a breach of contract by one party that is sufficiently serious to entitle the other party to treat the contract as terminated with immediate effect and to sue for damages. An innocent party,...more

Repudiatory Breach of Contract in English Law: a Matter of Timing or the Eye of the Beholder?

Under English law, an innocent party faced with a serious breach of contract by its counterparty is in a difficult position. Whilst a reasonable time is allowed to decide whether to accept the breach, or terminate the...more

Forfeiture, penalty and repudiation: terminating the employment of highly paid employees

Two recent cases in the English courts have focused on important issues for employers of senior and highly remunerated employees, particularly those in the financial services sector where payments under incentive plans are...more

It’s Getting Harder to Say Goodbye

The National Labor Relations Act (NLRA or Act) allows employers, including those in the construction industry, to join together to bargain with a union. This is called "multi-employer bargaining." But there are specific rules...more

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