M&A Weekly Update: effective service of a claim for breach of contract; changes to the UK Corporate Governance Code; and more
Effective service of a claim for breach of contract — were the claims ‘issued and served’?
A recent first-instance decision (T&L Sugars Ltd v Tate & Lyle Industries Ltd) is a salient reminder of the benefit of clear drafting.
The court was asked to consider the meaning of a provision in an agreement that provided that a claim must be ‘issued and served’ within a certain timeframe.
The court held that ‘issued and served’ meant the claim was required to be issued and served in accordance with the Civil Procedure Rules, specifically rule 7.5…
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