West Kowloon Cultural District Authority v AIG Insurance Hong Kong Limited [2020] HKCFI 569, concerned a bond obtained by the contractor, Hsin Chong Construction Company Limited (Hsin Chong), from the Defendant, AIG Insurance Hong Kong Ltd (AIG), in favour of the Plaintiff, West Kowloon Cultural District Authority (West Kowloon), as required under a construction contract ...
Michigan has joined the majority of jurisdictions in holding that a general liability policy may provide coverage for claims for property damage allegedly caused by the defective work of a subcontractor ...
Introduction In light of cessation of routine judicial activities in recent times on account of the Covid-19 pandemic, the decision of the High Court at New Delhi on April 20, 2020 in Halliburton Offshore Services Limited vs. Vedanta Limited and Another comes as a welcome breather in an area otherwise seemingly parched for development of case law ...
1. Force Majeure - Meaning. The term ‘force majeure’ translates literally from French assuperior force. It is also generally defined in the Merriam Webster dictionary as ‘an event or effect that cannot be reasonably anticipated or controlled’ ...
The state contribution for commercial leases to entrepreneurs with forcibly closed establishments will be launched on June 26, 2020 at 9 AM. If the entrepreneur has negotiated a 30% discount on the rent from his landlord, he will be able to apply for state support in the amount of 50% up to a ceiling of CZK 10 million for the period from April to June ...
The state contribution for commercial rents to entrepreneurs with forcibly closed establishments is gaining more concrete outlines. If an entrepreneur negotiates a 30% discount on rent from his landlord, he will be able to apply for state support in the amount of 50% up to a ceiling of CZK 10 million for the period from April to June. However, the program has yet to be notified to the European Commission before it can be launched ...
The spread of the Coronavirus now affects all parts of society. Businesses must review their operations to minimize the negative consequences that may follow. At the same time, it is important to be aware of the legal consequences that may arise from risk minimization. Below is a general summary of some issues that can arise for tenants in commercial premises ...
The Covid-19 pandemic has swept the globe like a tsunami and it continues to impact countries and their economies worldwide. The UAE is no exception. Businesses have come under increased cost pressure as revenues decline. Such cost pressure primarily involves real estate leasing costs. In this inBrief, we look at the impact Covid-19 has had on commercial leases ...
Restrictions related to COVID-19 have created immediate impacts for businesses of all sizes. Regardless if your industry has been directly affected by government mandates to work from home or restrict travel, it seems that no company can operate under a "business as usual" mindset over the near future ...
COVID-19 continues to spread rapidly around the globe, including Indonesia. Consequently, on 12 March 2020, COVID-19 was declared a pandemic by the World Health Organization. Due to this pandemic, many businesses and factories are temporarily closed causing critical implications for businesses, both international and domestic ...
For consideration by owners, contractors, suppliers, and project teams towards solutions on current and/or future projects. Global pandemic. Oil trade war. Volatile FX Markets. Market collapse? East African locusts. All of these global issues, and potentially others, will impact existing and new construction projects in Canada and the world over the coming months. However, a delay to a project does not always mean the project will inevitably cost more ...
Given below is the link to the article on the captionedsubject. The article discusses the impact of COVID-19 on the Real Estate sector as India’s largest employer and the recent measures announced by the Reserve Bank of India (RBI).The article authored by Divya Malcolm, partner, Kochhar & Co. Mumbai has been published online on Governance Now. Please click the link below to read… http://www.governancenow ...
On 25 August 2020, “The Temporary Measures For Reducing The Impact of Coronavirus Disease 2019 (Covid-19) Bill 2020” (“Covid-19 Bill 2020”) was passed by the Dewan Rakyat. When will the Covid-19 Bill 2020 come into operation? The Covid-19 2020 Bill comes into operation on the date published in the Gazette. However, it will have a retrospective effect and will be deemed to have come into operation on the first day of the Movement Control Order i.e ...
As the COVID-19/Coronavirus (COVID-19) continues to spread and affect our lives, the only certainty seems to be uncertainty. What is becoming clear is that both the short term and long term economic effects of the outbreak are likely to be significant. In light of this, real estate clients are asking important questions regarding the potential legal issues COVID-19 may have on their rights as real estate owners and operators ...
In their March 3, 2020 Law 360 article, our colleagues, Rob Patterson and Shu-Shu Wong, commented on the trend of certain buyers evaluating the feasibility of invoking force majeure as an excuse for not performing their purchase obligations under their liquefied natural gas long-term sale and purchase agreements (LNG SPAs) due to the COVID-19 outbreak ...
The COVID-19 pandemic and the sweeping government action to curtail its effects across the globe has disrupted global supply chains and may continue to do so for quite some time. These constraints will strain project development timelines across the renewable energy industry ...
First and foremost, our collective priority is, and should remain, human health and safety. As local, state, and federal government take action to help limit the spread of COVID-19, we are monitoring the rapid developments of this fast-moving news cycle and COVID-19’s impacts on renewable energy markets. Many open questions remain regarding the impact of COVID-19 in North Carolina – particularly the impact on businesses ...
Price moratorium on rent from apartments - rents cannot be increased! On 24 April 2020, a moratorium on rental prices of apartments, issued by the Ministry of Finance (“MF”) came into force, which was adopted in the form of Government Decree No. 202/2020 Coll. This is a protective measure for tenants, which stipulates that the rent for an apartment cannot be increased for a limited period of time. This price moratorium is related also to Act No. 209/2020 Coll ...
The negative pricing for West Texas Intermediate oil (“WTI”) on Monday has raised alarm bells for many of our clients in the exploration and production and midstream industries. This article will clarify the issues for these companies and explain the forces at work that have created this situation. The root cause of the current dilemma arises from the dramatic drop in demand starting with the onset of the COVID-19 virus on the United States ...
On 8 March 2020, Saudi Arabia initiated a price war with Russia which has caused a major fall in the price of oil. This is disastrous for an industry that had only just recently recovered from the 2014 crash and companies are now looking at how to best get through another difficult downturn ...
On 27 July 2020, the Centre for Health Protection reported a large-scale outbreak cluster on a construction site at the Peak with 13 workers of Kin Shing (Leung’s) General Contractors Limited being infected with COVID-19. Over 100 people work in the same construction site on a daily basis ...
Introduction In light of cessation of routine judicial activities in recent times on account of the Covid-19 pandemic, the decision of the High Court at New Delhi on April 20, 2020 in Halliburton Offshore Services Limited vs. Vedanta Limited and Anothercomes asa welcome breather in an area otherwise seemingly parched for development of case law ...
In the days between 13 March 2020 and 15 March 2020, the government announced a comprehensive package of measures to combat Covid-19 ("Corona virus"), which is to enter into force on 16 March 2020. This in particular includes the ordered closure of shops and restaurants. The following initial overview addresses a number of key issues that arise for tenants and landlords as a result of the current situation ...
