Blanket Notifications and Declaratory relief: European Risk Insurance Company v McManus
Summary
The recent decision of the Court of Appeal of European Risk Insurance Company v McManus [2013] EWCA Civ 1545 upheld the first instance decision which refused to grant declaratory relief in relation to a firm of solicitors' blanket notification of claims to their professional indemnity insurer. The first instance decision also reinforces the position that blanket notifications will be construed in favour of the policyholder (which was not subject of the appeal).Read more
Clark v In Focus: There is only one cherry, and no second bite at it
Summary
Financial advisers across the country will be breathing a sigh of relief as they digest the Court of Appeal’s decision in Clark v In Focus, meanwhile consumers which have suffered losses in excess of the statutory limit of the Financial Ombudsman Service’s scheme have been given a stark warning: by all means accept the Ombudsman’s award, but the Courts will give you no second bite at the same cherry.Read more
Coles v Hetherton: implications for recovery actions
Just before Christmas, the Court of Appeal delivered the long-awaited judgment in the case of Coles v Hetherton [2013] EWCA Civ 1704. As anticipated, its conclusions are likely to have wide-reaching implications for the insurance industry and may impact on every level of case, from the modest county court claims that were the subject matter of Coles itself, to multi-million pound property damage disputes.
Damages Based Agreements Regulations 2013
On 23.01.2013 the Ministry of Justice published the draft Damages-Based Agreements Regulations 2013 (“2013 Regulations”). These regulations will come into force on 1st April this year. The implementation of the regulations will allow for “contingency fee agreements” across all types of contentious litigation.
Contradictory High Court decisions on the doctrine of merger
Clark v In Focus Asset Management & Tax Solutions Limited [2012] EWHC 3669 (QB)
The claimants had invested the proceeds of sale of a family business in a geared traded endowment plan, after taking advice from the defendant Financial Services Company. It transpired that the advice was negligent and led to the claimants losing over £500,000.
Interpretation of combined commercial policy wording
Ted Baker Plc v AXA Insurance UK Plc [2012] EWHC 1406 (Comm)
The claimant clothing retailer discovered that an employee had been stealing stock from its warehouse. The claimant claimed on its commercial combined insurance policy that it held with AXA, for losses during the period of 2004-2008 in relation to loss of stock (£1 million) and losses for consequential loss or business interruption (£3 million).
High Court decision on the consequences of failing to undertake adequate e-disclosure
West African Gas Pipeline Company Limited v. Willbros Global Holdings Inc [2012] EWHC 396 (TCC)
The claimant company hired a contractor to carry out construction work on a natural gas pipeline in West Africa. The defendant company had provided a guarantee in relation to the contract. The contract was terminated prior to completion of the works, and the claimant issued proceedings under the guarantee seeking payment of the additional costs of completing the pipeline.
Unfavourable expert reports – Prohibition on ‘Expert shopping’
Edwards-Tubb v JD Wetherspoon [2011] EWCA Civ 136
The claimant suffered an injury as a result of an accident at work, for which the defendant employer admitted liability.
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Keydata Claims
FSCS’s Lifemark action
The FSCS has paid out millions to consumers following the collapse of Keydata in June 2009.
In the last week it has instructed Herbert Smith to send letters to hundreds of IFAs relating to Lifemark products: the Secure Income Bond 4, Secure Income Plan 1 - 12 and Defined Income Plan 1 - 8, requesting early payment of claims. We understand that Herbert Smith will be sending similar letters relating to other products in the coming weeks.
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Mediation shouldn't be seen as optional
High Court decision that highlights the importance of mediation
PGF II SA v OMFS Co 2012 EWHC 83 (TCC)
The claimant landlord claimed for dilapidations arising out of alleged breaches of the repairing covenants of an underlease, particularly in relation to the air conditioning system. Read more