Autumn Statement 2012: Good news for industry as son of PFI finally revealed
Chancellor George Osborne has used this week’s Autumn Statement to unveil a wave of infrastructure projects including new schools, hospitals and defence accommodation, to go forward under a revamped version of the private finance initiative, to be known as Private Finance 2 (PF2).
Deals drawn up under the new model will have to be closed out within 18 months and could, intriguingly, involve the public sector taking a shareholding of up to 49 per cent in the delivery company so they too can “share in the rewards”.
Until we know more about how these measures will be implemented in practice, it is impossible to know whether the perceived flaws of the previous “discredited” model have all been dealt with…
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Non-Chinese contractors are regularly encountering contracts containing arbitration clauses providing for disputes to be determined by Chinese arbitration centres.
This note provides a short summary of the two formal insolvent liquidation processes.
Analysis from The Lawyer
Nabarro senior partner and self-confessed “IT geek” Graham Stedman is heralding a major set of investments in technology ahead of the firm’s move to 125 London Wall this year.
Clients are more willing to bring claims against professional service providers but the risk to defendants is not as dramatic as it might seem