Introduction
The UK Supreme Court has today handed down a significant and highly anticipated decision on the interpretation of liquidated damages clauses.
United Kingdom, Construction, Insolvency & Restructuring, Litigation, Watson Farley & Williams, House of Lords, UK Supreme Court, Technology and Construction Court
On Wednesday 29 April the Outer House of the Court of Session in Edinburgh issued an opinion sanctioning two schemes of arrangement proposed by Premier Oil Plc and Premier Oil UK Limited (together, Premier Oil) (the Schemes). The Court addressed multiple grounds of challenge and did so without hearing live evidence, despite disputes of fact between the parties.
European Union, United Kingdom, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP