Jobless lawyers thrown holiday lifeline

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Stricter rules for awarding new exploitation concessions in Macedonia

After a long, complex and nation-wide discussion, on 9 January 2019, the Macedonian Parliament introduced stricter rules for obtaining exploitation concessions. Effective immediately, the novelties from the Minerals Law target potentially new mines, and they came as a result of the broad interest shown during the last couple of years concerning the environmental effects of the mining […]

Breach of fiduciary duties under an agency agreement: Appropriate remedy

By Pauline Cowie The High Court has confirmed that an account of profits cannot be relied upon by principals as a mechanism to recover remuneration from a commercial agent which has breached its fiduciary duties under an agency agreement in circumstances where it did not receive unauthorised benefits e.g. through bribery. Rather, the appropriate remedy is […]

Solar EPC guarantor liable for delay damages

By Marianne Anton The High Court enforced payment of liquidated damages for delay in the construction of five solar plants, deciding that they were not a penalty. It also permitted the recovery of general damages (in addition to delay damages) in respect of two of the five solar plants arising from the lower level of government […]

Contract interpretation: What does the futility principle involve?

By Stuart Campbell Does the ‘principle of futility’ exist? The Court of Appeal recently considered the expression to be misleading: the question for the court is not whether the principle exists, but what it involves. It reflects an approach to construction which recognises that in certain circumstances, a condition precedent may (in the light of subsequent […]

Litigation privilege: Particularly nuanced protection

By Gwendoline Davies Two recent cases which demonstrate that whether or not a party can withhold documents on the basis of litigation privilege remains a very nuanced question. The ability to withhold documents from disclosure to the court and/or other parties, without adverse inferences being drawn, is a fundamental and vital protection within the law of […]

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Howrey, Reed Smith snap up Thelen teams

Howrey and Reed Smith have become the latest US firms to acquire remnants of collapsed firm Thelen. Howrey confirmed today (Wednesday 12 November) that it was acquiring the bulk of Thelen’s construction practice, including former Thelen chairman Stephen O’Neal, with the majority of the 40-plus lawyer group based in San Francisco and Washington, DC. Howrey […]

Lovells gets Iceland brief in banking row

The Icelandic government has appointed Lovells as it ­considers legal action against the British Government over its reaction to the country’s ­banking crisis. Iceland has ­criticised chancellor Alistair ­Darling’s decision to put the UK subsidiaries of Kaupthing and Landsbanki into administration and freeze their assets, and has turned to Lovells corporate partner Richard Brown for […]

Unlicensing laws

New regulations mean that private trust companies no longer need to obtain a trust licence to act as trustees, allowing the Cayman Islands to maintain its competitive edge, reports Sara Collins The highly anticipated Private Trust Companies Regulations 2008 have now been enacted in the Cayman Islands, a development that has been greeted with enthusiasm […]

Simmons bolsters global real estate team

Simmons & Simmons has hired two partners and a ­managing associate for its international real estate practice. Commercial property specialist Rachel Francis-Lang has joined the London office as a partner from Eversheds, while Phillip Beer joins the firm as partner from Herbert Smith, where he was of counsel. The firm has also appointed Duane Keighran […]

Ashurst, Milbank, Slaughters land roles on Porterbrook sale

Ashurst, Milbank, Slaughters land roles on Porterbrook sale” />A trio of City firms have scooped instructions on one of the largest leveraged buy-outs this year, after a consortium of banks and investors bought rolling stock leasing company Porterbrook Leasing Company from Abbey. The deal is one of the few big transactions to complete in the […]

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