While they are an integral part of most businesses - often with a primary function of delivering cost savings and efficiencies - they must be kept up-to-date to ensure they achieve those aims. So now is a good time to undertake an IT systems review, and look at consolidation and streamlining. Changes to business structures, acquisitions and a system's age are other triggers for an IT stock take ...
What Happened Last week, the chairman of Satyam Computer Services Ltd., India's fourth largest information technology company, admitted to a stunning fraud. Fraudulent entries in the company's financial statements totaled in excess of US$ 1 billion, as compared to the actual financial state of the company. In response to the fraud, DSP Merrill Lynch Ltd., a local affiliate of Bank of America Corp ...
The contract between Liberty Mercian and Dean and Dyball was for completion of a number of retail units. The Contractor was given a series of sectional completion dates for the works with liquidated damages payable if any of these were missed. The Contractor was late completing one of the early sections, and was therefore liable for LADs in respect of this section ...
Many property agreements allow the developer to decide whether conditions attaching to planning permissions are onerous without imposing a parallel obligation to act reasonably.Despite this wide discretion, recent case law has confirmed that there is still an implied duty to act in good faith ...
Anybody who has ordered their Christmas shopping online or installed software will have encountered so-called 'clickwrap' agreements. With clickwrap, before being able to complete the order or install the software, you must indicate acceptance of the service provider's terms and conditions – with a simple click on the I agree button – before being able to proceed. This is the stark choice of “take it or leave it” for the digital age ...
Its fair to say 2008 was an extremely challenging year for UK property. Anything between 25-50% has been wiped off values from their peak in mid 2007 ...
The Office of Fair Trading (the “OFT”) has published the results of its market study into homebuilding in the UK. The report concludes that the sector is broadly competitive and there is little evidence of house builders holding onto land to restrict supply and so increase prices. However, the report also concludes that homebuyers can experience delays and faults and they need more protection when buying a new home ...
WARNING SIGNS AND EARLY ACTIONS Works are falling behind programme. If a Contractor is struggling financially then they may not be able to buy sufficient resources to complete the job within the time limits. If a Contractor starts asking for advance payments, this is another sign that it is not in good financial health ...
Given the current economic climate, it has been a busy year for all lenders, but coupled with the biggest overhaul of Consumer Credit Law since 1974, with the introduction of Consumer Credit Act 2006, the changes for this year are not over yet. On 1 December 2008 the OFT has released a new arrears and default information sheet. You can obtain a copy of the new statements the following link: http://www.oft.gov ...
On November 21st, the Supreme Court of Canada released a crucial decision on the interpretation of the “faulty or improper design” exclusion in all-risks builders’ insurance policies. By a bare (4 to 3) majority, the Court adopted a comparative standard requiring insurers to show that an impugned design failed to meet “the highest standards of the day” for the exclusion to apply ...
Solicitor and commercial specialist Ross Woodham takes a technical and commercial look at Voice over Internet Protocol (VoIP), as it grows in popularity. VoIP has existed since the early 1980’s, but was only given serious commercial attention in the late 1990’s, since when the use of VoIP-based technology has grown steadily ...
The Government of the Republic of Indonesia ("GOI") understands that Indonesia is becoming part of the globalization of information. Consequently many new forms of legal actions which were not covered by current Indonesian laws and regulations now have to be regulated. On 21 April 2008, after being approved by the House of Representatives, the GOI enacted Law No 11 of 2008 regarding Information and Electronic Transactions ("Law No 11 of 2008") ...
Attorneys and Government Policy Advisors in Dykema's Infrastructure and Project Finance Practice Area, seek to keep our clients and contacts abreast of pending legislation, new developments and other topics. Our intent is to provide you with timely, relevant, and useful information that will help you with your business goals ...
By decision rendered June 25, 2008, in K. B. & UAB Restoranu Grupe FORTAS v. AB Ragutis (Case No 3K-3-160/2008), the Supreme Court of Lithuania ruled that a component of a trademark that infringes an author’s copyright may not be disclaimed in the trademark registration.The plaintiffs, K. B. and UAB Restoranu Grupe FORTAS, sued one of the oldest breweries in Lithuania, AB Ragutis, for copyright infringement ...
For a long time, there have been negotiated general terms and conditions for the purchase of goods for construction businesses. The latest version is called ABM 07.Before I explain the changes these entail in relation to the previously provisions, ABM 92, I will give a summary description of the development, from the mid-1970’s, which has led to the ABM of today ...
The Court of Appeal (CA) judgment in Symbian Limited v Comptroller General of Patents (2008) EWCA Civ 1066 was issued on 8 October. This has upheld a High Court decision to overrule the UK Intellectual Property Office's (UK-IPO) rejection of a computer program on a conventional computer as non-patentable ...
The proposed amendments to the Act have now been issued by DBERR. They are due to progress through parliament this session, but the key question is are they as anticipated and do they cover the recommendations made for change? The answer is largely yes. Although some in the industry will argue that they do not go far enough, they are representative of the latest 2007 Consultation ...
The JCT Constructing Excellence Contract 2006 is seen as a radical departure from the JCT's more "traditional" building contracts. However, will it be used used by developers in the private and public sectors? Many of the more "traditional" forms of contract (JCT and ICE in particular) were perceived to encourage an adversarial approach ...
The Scottish Government has recently unveiled its long-awaited proposal for financing and delivering major public projects in Scotland. The initiative, the Scottish Futures Trust (the SFT), will replace the widely-criticised Private Finance Initiative (PFI) and heralds a golden opportunity for the delivery of high quality projects which represent value for money for the taxpayer ...
Japanese knotweed is an extremely invasive plant which is capable of damaging property and can grow through concrete or even the floors of houses. It is difficult to eradicate and its disposal is considered to be "controlled waste" for the purposes of the Environmental Protection Act 1990. Knotweed will often be apparent on inspection but this will not necessarily always be the case. A fragment of root as small as 0 ...
The Crossrail Act 2008 (the “Act”) received Royal Assent on 22 July 2008. The Act authorises the works necessary to build Crossrail and the acquisition of land and interests in land necessary for those works. In addition, the Act establishes a planning and heritage regime for the works ...
The Government has announced a new scheme to supplement the existing HomeBuy scheme. The new scheme, known as "Rent to HomeBuy", will allow potential buyers to rent a property for a specified period at a less than market rent, with the option to buy a share of the property at the end of that period. The Government hopes that the new scheme will enable more tenants to buy their own home ...
Part I of a III Part Primer: An Introduction This newsletter is the first of a three part report prepared for our public finance clients with respect to “public private partnerships.” Also known as “PPP” or “P3” projects, there is an increasing amount of press regarding these projects, some of which is contradictory and some of which is just plain confusing ...
As if employers and contractors needed reminding, two recent decisions emphasise the importance of having a contract in place as soon as possible, and the dangers of starting work on a letter of intent ...
Product liability insurance is often offered as an alternative to professional indemnity insurance by sub-contractors but is it really an alternative? The two forms of insurance have some fundamental differences. Professional indemnity insurance covers claims arising out of the professional activities of design consultants, sub-contractors or the contractor ...
