'Proceed with due diligence': what does it mean in construction contracts and development agreements?
By Simon Wain
The Technology and Construction Court examined this issue in a recent case — Sabic UK Petrochemicals Limited v Punj Lloyd Ltd — and found that the contractor was in breach of the obligation.
The case arose out of the construction of a petrochemicals plant in the north east of England. The parties entered into an engineering procurement construction (EPC) contract for delivery of the plant.
The purchaser, Sabic UK, considered that the contractor, Simon Carves, was not proceeding with due diligence as required by the EPC contract. Having issued a warning notice under the contract, Sabic terminated the contractor’s employment. Among other issues, the court was asked to examine whether the contractor was in fact in breach of contract in not proceeding with due diligence…
If you are registered and logged in to the site, click on the link below to read the rest of the Shoosmiths briefing. If not, please register or sign in with your details below.
News from Shoosmiths
News from The Lawyer
Briefings from Shoosmiths
This briefing contains a summary of the main tax points of interest with draft legislation enacting the proposed changes to be published on 10 December 2013.
These days, it seems as if every passing week brings with it a new story in the press about the legal risks of engaging with social media.
Analysis from The Lawyer
Compliance and corporate governance codes for large financial institutions will undoubtedly include provisions to regulate high pay in the future
There’s more to the ABS model than attracting the man in the street and procuring external investment. Partners at the big corporate firms, take note…