The UK is facing a veritable housing crunch. The gap between residential supply and demand continues to widen, and the current high interest rate environment is only serving to compound the issue – posing real challenges when it comes to funding and bringing much needed new schemes forward. One part of the residential market that is really feeling the strain of these supply constraints is the senior living sector ...
Shoosmiths' Natalie Aldread explores two recent cases and their implications for break options and the renewal of a business tenancy under the Landlord and Tenant Act 1954 It is often assumed that where renewal of a business tenancy under the Landlord and Tenant Act 1954 has not been opposed, the bar is reasonably low to include a landlord’s break option in the new lease. Two recent cases do, however, indicate that this is not always the case ...
An interesting point has arisen in an unopposed lease renewal case that considered whether a landlord’s break option should be included in a new lease, to allow the landlord to occupy the premises for the purposes of its own business. BMW sought renewal leases of its showroom at 70 Park Lane, London, which was let under four separate tenancies ...
The real estate market in Dubai has been making significant improvements in 2021 after the successful handling of the COVID-19 pandemic by the UAE. March 2021 had the highest number of transactions in 16 months as well as the highest number of secondary/ready properties transacted for foreigners in a single month since June 2015. This boom in sales resulted in record increases (23 per cent annual increase between April to June for luxury villas) ...
In Appeal of Carothers Constr., Inc., the Armed Services Board of Contract Appeals (the “Board”) rejected the Government’s reliance on strict compliance with the material specifications for a 2 1/2″ thick roof deck product when the contractor proved the substitute 2″ thick roof deck was equivalent ...
It is well known that insurance companies negotiate low attorney hourly rates for defense of their policyholders.1 When a conflict arises that requires policyholders to retain independent counsel, insurers frequently try to impose those same rates on the policyholders’ selected attorneys. The ensuing fight over billing rates can discourage policyholders from selecting the best attorneys for the job ...
Since its emergence from Wuhan, China, in December, the coronavirus (COVID-19) has exacted an immense human cost in death and suffering, with tens of thousands of confirmed cases worldwide. As the world reacts, the spread of this disease has also impacted businesses and world markets. Governments around the globe have restricted travel from areas with widespread, sustained transmission rates. Corporations have also suspended travel and operations in areas with high rates of infection ...
On June 7, 2023, the Minister of Finance of Quebec tabled and presented Bill 30 before the National Assembly, an omnibus bill entitled An Act to amend various provisions mainly with respect to the financial sector (hereinafter the ?Bill?). The Bill includes certain amendments to the provisions of the Insurers Act (?IA?) and the Act respecting the distribution of financial products and services (?DA?) ...
A North Carolina court has required Cincinnati Insurance Company to provide business interruption and extra expense coverage to 16 North Carolina restaurants that lost the use of and access to their properties due to COVID-19 civil authority orders (see North State Deli, LLC, et al. v. Cincinnati Insurance Co. et al.) ...
How retailers can harness technology to beat e-commerce at its own game. “It's official: Singapore malls are dead, as occupancy reaches its lowest level in 10 years,” screams one headline. “At some suburban malls, retailers confront the sound of silence,” another chimes in. As e-commerce takes hold, shoppers are eschewing brick and mortar in favour of the convenience of point and click ...
Are bidders required to partner with a Taiwan company to participate in the bidding process? Foreign companies may participate in the bidding process on their own, so long as they meet the bidding qualifications. Most public engineering projects permit either bidding by a single company or by a joint bid. So long as a company is able to meet the qualifications for the procurement project, it may submit a bid on its own ...
After getting the knowledge of GPA Model and PPP Model, the bidders need to know how to make preparation during the pre-bid stage. Following are the responses to some most frequently asked questions regarding bidding qualifications, based on which the foreign bidders can make its preparation plan ...
The High Court has handed down three new judgments on BI insurance claims resulting from Covid-19: Stonegate Pub Co Ltd v MS Amlin Corporate Member Ltd [2022] EWHC 2548 (Comm), Various Eateries Trading Ltd (formerly Strada Trading Ltd) v Allianz Insurance Plc [2022] EWHC 2549 (Comm) and Greggs v Zurich Insurance Plc [2022] EWHC 2545 (Comm). These cases are another reminder of the complexities of BI insurance and the particular challenges created by Covid-19 ...
Recently, Dinsmore has noticed an uptake in claimant allegations that an employer has caused an accident due to violation of a specific safety requirement (VSSR). A VSSR award is an additional award paid to the employee by the Bureau of Workers’ Compensation (BWC) billed directly to state fund employers or paid directly by a self-insured employer ...
Armando Aznar J. of the Court of Québec recently rendered a harsh judgment against an insurance company.1 Although the amounts at stake were minimal, the decision may have a significant impact on insurers. This is one of the rare judgments where an insurer was ordered to pay exemplary and moral damages for having made allegations in the pleadings based on unjustified suspicions resulting in damages to the integrity and honesty of its insured ...
At the time, most captive owners (and their advisers) were attracted by Bermuda's perceived economic, social and political stability, its strong infrastructure, its close proximity to New York and a legal system that tended to follow the English common law and provided for an ultimate right of appeal to the Privy Council in the U.K ...
An interesting news update has recently come up in the media, as the Serbian roads company "Putevi Srbije", and the Ministry of Construction, Transport, and Infrastructure – together with the representatives of the relevant institutions in Romania – announced that a contract on implementing a cross border project of building the Belgrade-Timisoara highway is due to be signed in the next two weeks ...
The Supreme Court (“Hof van Cassatie/Court of Cassation”) overruled on 26 May 2023 a decision that determined that Article 1722 (old) Civil Code (a partial or total “destruction” of the leased premises) does not apply for the tenant that can not operate its premises due to the measures taken by the Belgian Government in order to prevent the spread of the COVID-19 pandemic, because there was only a temporary impossibility and thus only a temporary loss of enjoyment ...
Surfside Collapse – what we know so far: On Thursday, June 24, 2021, at approximately 1:25 a.m., Champlain Towers South, a twelve-story beachfront condominium in the Miami suburb of Surfside, Florida, partially collapsed. The collapse was reported as the third deadliest structural engineering failure in United States history. Ninety-eight people were confirmed dead, only four people were rescued from the rubble ...
Originally published in DRI - For the Defense. By Hakim Bouadi, Stephanie U. Eaton, Matthew W. Georgitis, and Robert A. Plichta Bringing an engineer and an architect onto the legal team as soon as a building catastrophe happens has more than just legal benefits ...
Key Points: Bay Area counties issued new Shelter Orders on April 29, 2020 allowing all construction to resume. The new Shelter Orders include detailed Construction Safety Protocols that construction jobsites must comply with. There is one Construction Safety Protocol for “small” construction projects, and a more rigorous Construction Safety Protocol for “large” construction projects ...
On March 31, 2020, Alameda, Contra Costa, Marin, San Francisco, San Mateo, and Santa Clara counties plus the City of Berkeley issued new Shelter-in-Place orders, further restricting construction and extending Shelter-in-Place restrictions until May 3, 2020. Under the new orders, most construction, including residential and commercial, is now prohibited. Healthcare, low income housing, specially designated public works projects, shelters, and temporary housing projects may continue ...
Bare trusts are increasingly being used when investors acquire investment properties as they provide a number of significant advantages. Anyone considering purchasing an apartment building should fully examine the potential use of a bare trust arrangement. What is a bare trust? A bare trust is a legal structure that facilitates the division of the beneficial and legal ownership ...
October 26, 2023 By: Jarrett Osborne-Revis In Breanne Martin v. Leslie Gladstone, the Second District Court of Appeal recently decided a case that could reverberate throughout the receivership and bankruptcy industries. This case comes at a propitious moment as bankruptcy proceedings and receiverships – particularly for distressed commercial real estate entities – trend upward in California ...
Managing General Agent (“MGA”) Agreements are unique and can be exceedingly complex. They often include detailed underwriting guidelines and strict limits on an MGA’s authority. After all, an MGA is authorized to bind an insurer on substantial risks often with little direct supervision by the insurer. While no two MGA Agreements are the same, all must incorporate certain required provisions. The NAIC has promulgated the Managing General Agents’ Act (NAIC Model No ...
