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Governance & Compliance update - Issue 174

Included in this update: Government extends temporary COVID-19 measures in CIGA 2020 and more...

COVID-19

CIGA 2020 extensions in force

European Union, United Kingdom, Capital Markets, Company & Commercial, Insolvency & Restructuring, Public, Tax, White Collar Crime, Addleshaw Goddard LLP, Brexit, Libor, Modern slavery, Money laundering, ESG, Coronavirus, Financial Conduct Authority (UK), European Commission, HM Revenue and Customs (UK), European Securities and Markets Authority, Modern Slavery Act 2015 (UK)
Governance & Compliance Update - Issue 165

Included in this update: Corporate Insolvency and Governance Bill introduced to Parliament; FRC updates guidance on corporate governance and reporting and more...

Corporate Insolvency and Governance Bill introduced to Parliament

United Kingdom, Company & Commercial, Compliance Management, Insolvency & Restructuring, Addleshaw Goddard LLP, Corporate governance, Moratorium, Annual general meeting, Coronavirus, Financial Reporting Council
ABI guarantee bonds and building contractor insolvency

In Ziggurat (Claremont Place) LLP v HCC International Insurance Company plc [2017] EWHC 3286 (TCC) the court considered a claim under an amended ABI Model Form Guarantee Bond.

As a result of a bespoke clause the Contractor's insolvency was enough to trigger recovery under the Bond, but if a breach of contract was required, the Contractor was in breach of the contract by failing to pay the amount due to the Employer following insolvency.

United Kingdom, Insolvency & Restructuring, Litigation, Addleshaw Goddard LLP, High Court of Justice (England & Wales)