The recent judgment in Phones 4U Ltd (in administration) v EE Ltd [2018] EWHC 49 (Comm) has highlighted the need for care when communicating the reasons for terminating a contract. In this case EE, as a result of failing to identify a repudiatory breach as the grounds for terminating its trading agreement with Phone 4U, was precluded from later pursuing a common law claim for damages.
Background
The expression “dilapidations” refers to any breach of lease covenants which relate to the condition of a leased property. This can apply to, among other things, a tenant’s covenants to repair the premises, to decorate or to remove alterations.
The process for ensuring that dilapidations are remedied usually takes place at the end of a lease, and any such dilapidations are commonly labelled “terminal” or “lease end” dilapidations. The procedure for determining liability can be complex and can potentially end up in Court.
The fallout from Carillion's collapse in January continues to play out as it transpired this week that the company had delayed payments to subcontractors by up to 120 days. Carillion allegedly used tactics such as faulting invoices and finding minor problems with work undertaken in order to delay payment.
As the nights drew in, the end of 2017 saw a flurry of case law on security for costs, and particularly its interaction with after the event (ATE) insurance and litigation funding. This article considers what insights can be gleaned for litigants who do not want to be left out in the cold.
Premier Motorauctions: security for costs and ATE
Briefings
A recent ruling by the English High Court in BILTA v RBS1, concerning EU Emissions Allowances (“EUAs” or “carbon-credits”) trading has re-opened the debate on when materials forming part of an internal investigation can benefit from litigation privilege. The decision further undermines the restrictive approach taken by Andrews J in SFO v ENRC2 when applying the “sole or dominant purpose test” to dual-purpose communications.
Background – Emissions Trading Fraud
Friendly societies, along with other mutual societies, are registered with and regulated by the Financial Conduct Authority under the Co-operative and Community Benefit Societies Act 2014 (the Act).
Capital Funding One Limited (the "Company") arranged short term bridging finance for borrowers who were unable to obtain loans from more conventional sources. The funding for these loans were obtained from King Street Bridging Limited ("King Street").
Statutory demands are a key asset in a lender’s arsenal when seeking to enforce under a guarantee. The mere threat of bankruptcy is often a powerful method of brining a reticent debtor to the table. Above all else, they are quick, simply and relatively inexpensive to present, often avoiding the need to bring proceedings against the debtor in court.
On Monday 29th January 2018, following a private prosecution, Andrew John Camilleri was unanimously convicted by a jury at Manchester Crown Court of making false representations in an Individual Voluntary Arrangement (“IVA”)[1] proposal contrary to section 262A of the Insolvency Act 1986. The prosecution was brought by one of Camilleri’s many creditors.
While overall insolvencies fell in number in 2017 compared with 2016, the last quarter of 2017 showed an increase compared with the previous quarters which had been stable.
In those insolvencies, the vast majority are voluntary liquidations, but there is a trend of retail businesses which are struggling turning to the Company Voluntary Arrangement restructuring option, often accompanied by a managed reduction in operations.