General – Page 5 – Duane Morris London

February 11, 2021April 6, 2023 by Steve Nichol

Cairn Energy v India: A lesson in BIT rights and enforcement

By Steve Nichol and Tanya Chadha

Cairn Energy’s dispute with the Indian Government has made headlines across the globe. The case serves as a useful reminder to foreign investors of the benefits of using bilateral investment treaties to obtain relief in circumstances where they have been unfairly treated by governments in foreign jurisdictions.

The Dispute

The origins of this dispute lie in a separate, but similar case between Vodafone and the Indian Government, arising out of Vodafone’s purchase of a majority share of a company, Hutchison Whampoa, in 2007. Hutchison owned substantial assets in India, and the Indian Government contended that Vodafone owed capital gains and withholding tax, based on India’s 1961 Income Tax Act. Vodafone disputed the Government’s interpretation of the Act. Continue reading “Cairn Energy v India: A lesson in BIT rights and enforcement”

February 5, 2021February 4, 2021 by Duane Morris

Protests, Prosecutions and Pandemics: Will COVID kill HS2?

By Steve Nichol

The directors of HS2 Ltd must be firm believers of the old adage that no news is good news.

It’s no secret that the project has been beset with controversy right from the start – foremost amongst these being the budgetary underestimates that prompted criticisms of both the government’s procurement model for major infrastructure projects and the competence of those at the helm of the delivery company. So, when the Project was hit with a triple-whammy of bad press last week, those embattled directors and their government supporters must have needed it like a hole in the head. Continue reading “Protests, Prosecutions and Pandemics: Will COVID kill HS2?”

February 4, 2021February 4, 2021 by Duane Morris

Foreign Travel For Holidays From Work During COVID-19 Lockdown

By Nic Hart

Can an employee be disciplined for going on an ‘illegal’ foreign holiday during the current lockdown regime?

The stating point is the current government guidance on travel. Continue reading “Foreign Travel For Holidays From Work During COVID-19 Lockdown”

January 22, 2021January 22, 2021 by Duane Morris

No Jab, No Job: The Murky World of Mandatory Vaccinations

By Nic Hart

The ongoing pandemic has inevitably caused employers to address a significant number of issues regarding employees and working practices. Mandatory vaccination has become an acute and difficult topic in the context of the employment relationship.

As the vaccination program continues to be rolled out across the country, one of the recent issues causing controversy and consternation for employers is the question of mandatory vaccinations for employees. Some businesses such as Pimlico Plumbers and Qantas have been reported as coming out in support of mandatory vaccination policies. Pimlico Plumbers in particular have proposed implementation of a “NO JAB NO JOB” policy and Qantas have advised that they plan to require all international passengers to be vaccinated against Covid-19 as a condition of travel. Continue reading “No Jab, No Job: The Murky World of Mandatory Vaccinations”

January 13, 2021 by Duane Morris

Aqua v. Benchmark: How Not to Settle a Dispute

By Steve Nichol and Matthew Friedlander

In its latest offering, “CLC COVID-19 Claims and Disputes in Construction” the Construction Leadership Council (CLC) predicts that disputes related to COVID-19 are set to rise in 2021. While the optimist may hope that parties will continue to or aim to work collaboratively in order to find workable commercial solutions to claims arising from the global pandemic, the realist knows that such disputes are inevitable. Continue reading “Aqua v. Benchmark: How Not to Settle a Dispute”

January 12, 2021January 12, 2021 by Duane Morris

Implications for 3D Printing and the Auto Industry

For as long as cars have existed, three fundamental truths appeared to be eternal. First, every car contains safety critical components, second these components are mostly metal and third, they are manufactured by one of two methods—stamping or cold forming. These eternal truths always led to an equally durable legal reality, that if the safety critical component fails the manufacturer will be liable to the injured party. It’s hard to think of a more trite and dependable set of principles. But these timeless precepts are about to become disrupted as the automotive industry continues to explore the innovation of 3D printing.

To read the full text of this article by Duane Morris partners Sean Burke and Alex Geisler, please visit the 3DPrint.com website.

January 11, 2021 by Duane Morris

What Does the Brexit Deal Do for UK Construction?

By Steve Nichol

The final nail in the coffin of Christmas 2020 for me was getting a directive from NHS Test and Trace to self-isolate on the 23^rd. So, instead of celebrating Christmas, I packed the missus off to her mother’s and settled down to read the snappily-titled “Trade And Cooperation Agreement Between The European Union And The European Atomic Energy Community, Of The One Part, And The United Kingdom Of Great Britain And Northern Ireland, Of The Other Part”. Otherwise known to you and me as the Brexit Deal. Continue reading “What Does the Brexit Deal Do for UK Construction?”

December 17, 2020 by Duane Morris

Wasn’t It Obvious? The Curious Case of ABC v. Network Rail

By Steve Nichol and Matthew Friedlander

At first glance, the Court of Appeal’s recent decision in ABC Electrification Ltd v Network Rail Infrastructure Ltd [2020] EWCA Civ 1645 might look like the culmination of an exercise in legal hubris. This was, after all, a case focussed on the meaning of a single word in a contract; moreover, a word – “default” – that most of us in the legal profession might say has a well-established meaning.

And, after several hundred thousand pounds of legal fees no doubt well spent, the Court of Appeal told the world that the word “default” means exactly what we all thought it meant – a failure to fulfil an obligation. Continue reading “Wasn’t It Obvious? The Curious Case of ABC v. Network Rail”

August 30, 2020September 24, 2020 by Duane Morris London

UK Government Consultation on the Promotion of Cryptoassets

By Sam Pearse

30.08.2020

The UK Government has launched a Consultation regarding cryptoassets, focussing on whether unregulated cryptoassets should fall within the financial promotions regime, thereby affording protection for consumers. There is no immediate impact on cryptoasset businesses, but the regulatory landscape is changing.

Background

The UK Financial Services and Markets Act 2000 sets out restrictions on the communication of invitations or inducements to engage in investment activity, such as investing in securities. In brief terms, only those persons who are authorised by the Financial Conduct Authority (FCA) may make such communications, or persons who are making a communication which as been authorised by an authorised person. Incidentally, the ‘approved communications’ exemption is also being reviewed by HM Treasury and our article about that can be found here.

At its core, the restriction on financial promotion is intended to protect consumers from being mis sold products, whether by virtue of being provided with insufficient information or by fraudulent activity or investing in immature or inadequate market infrastructures. Continue reading “UK Government Consultation on the Promotion of Cryptoassets”

August 17, 2020August 17, 2020 by Duane Morris London

HM Treasury Consultation on the regulatory framework for the approval of financial promotions

By Natalie Stewart & Drew Salvest

HM Treasury has opened a consultation regarding a regulatory gateway for authorised firms approving the financial promotions of unauthorised firms. Responses to the consultation are sought by 25 October 2020 and the government is particularly interested in responses from authorised firms currently approving the promotions of unauthorised persons, retail consumers and unauthorised persons which communicate financial promotions. Unauthorised firms who rely on authorised persons to enable them to market products in the UK should consider approaching their usual approving firms to ensure any implementation of this consultation does not inhibit market access.

Regulatory Background

Financial promotions (“Promotions”) are restricted under Section 21 of the Financial Services and Markets Act 2000 (“FSMA”), pursuant to which a person must not, in the course of business, communicate an invitation or inducement to engage in investment activity unless the Promotion has been made or approved by an authorised person or it is exempt. Unauthorised firms often use authorised firms which are authorised to carry on a regulated financial services activity to approve their Promotions in order to comply with the regulations (the “Authorised Persons Approval Route”).

Authorised firms are not required to notify the Financial Conduct Authority (the “FCA”) once they have approved an unauthorised firm’s Promotion, nor does the FCA sign off on approved Promotions before they are communicated to consumers. As such, the FCA is only made aware of potential breaches of the relevant regulations. Continue reading “HM Treasury Consultation on the regulatory framework for the approval of financial promotions”