Tag Archives: Fladgate

ILN Today Post

Brexit for business

The United Kingdom continues to be a member of the EU as well as the Common Market and the Customs Union.  This situation will persist at least until the end of March 2019, i.e. the end of the two year negotiation period stipulated by Article 50 of the Treaty of Lisbon which governs the withdrawal of a member state from the Union. As such, therefore, no changes to the legal and regulatory environment have taken place yet for UK businesses and foreign businesses trading in and with the UK.  Just as it is currently unclear what form Brexit will take (soft or hard or, perhaps more likely, a degree of hardness in between), it is also unclear what changes to the legal environment will occur.

Nonetheless, businesses are understandably concerned about the future and increasingly approach us for advice. The following is a brief overview of key points and questions that we have come across in advising on matters of current significance in the context of Brexit:

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Brexit – recent developments and the implications for some aspects of construction law

The European Union (Withdrawal) Bill (informally known as the “Great Repeal Bill”) passed its second reading on 11 September. The Committee stage is scheduled for 14-15 November, although it is still possible that political pressures will derail that timetable. What impact will the bill, if it completes its passage, have on construction law?

It must be said at the outset that the bill is likely to undergo significant change before it is enacted. Over 400 amendments have been tabled by MPs. Any assessment at this stage must necessarily be provisional.

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Understanding insurance indemnity principles and providing lender protection

Real estate finance lenders need to achieve three things:

  • First ranking security over the real estate asset.
  • Maintenance of the real estate asset’s value by ensuring all damage is reinstated (and insurance proceeds applied accordingly).
  • Fixed security over any lump sum payment.

This all sounds simple enough but on nearly every real estate finance transaction insurance requirements are the last to be agreed. It can be helpful for both lenders and borrowers to understand how insurance claims are dealt with by insurers to be able to agree insurance requirements and ensure that the borrower’s broker will be able to deliver on these.

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Is your building WELL?

The WELL Building Standard is the first building standard which focuses on the health and wellbeing of the building occupants and gives a ‘wellness’ rating for buildings.

The WELL Building Standard is an international standard which is administered by the International WELL Building Institute, a public benefit corporation based in the US, whose mission is to improve human health and wellbeing through the built environment.

Unlike other standards, which focus on the environmental and sustainability credentials of the building, the WELL Building Standard focuses on the impact of the building on the physical and mental wellbeing of the end-user.

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How to help your non-dom clients with IHT

They say change brings opportunity, so the optimists among you can rejoice (maybe) because, thanks to the present government, a whole new range of clients need your advice (perhaps).

Why the equivocation? Well, until recently, it seemed certain that changes affecting the taxation of non-UK domiciliaries (non-doms), which were included in the March 2017 version of the Finance Bill 2017, would come into effect on 6 April 2017, as planned.

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Getting Neymar moving: the legal framework of a soccer transfer

With Neymar’s world record move from Barcelona to PSG just one of a host of big-money soccer transfers this summer, Fladgate’s Alan Wetterhahn and James Earl explain the legal processes that make a deal happen.
The numbers are mind-boggling. And that was the case even before Paris Saint-Germain paid a world record fee of €222 million for the Brazilian superstar Neymar Jr. And it is so far so good for the forward, who has scored three goals in the two matches he has played for his new club.

Who said money can’t buy you love?

When any business pays for any asset – and, make no mistake, Neymar is an asset in many senses of the word – the paperwork is sure to follow and it is no different in football where the amounts involved are getting larger every year.

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Japanese knotweed: The nightmare neighbour

The damage that Japanese knotweed can cause has been highly publicised over recent years. Growing by up to 10cm a day, it quickly covers land above ground, and has the potential to spread widely underground. It is said to spread beneath the foundations of properties and compromise their structure; it can cause cracks, undermine garden walls with shallow foundations, and even push over insubstantial outbuildings.  While some may argue that the damage it is alleged to cause is something of an urban myth, professional guidance nonetheless does suggest that all ground within 7m of Japanese knotweed should be considered blighted. For that reason, lenders will often refuse to lend against a property where Japanese knotweed is found within such close proximity. Proper remediation to eradicate the knotweed can take years, and is extremely costly.

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Veto rights in contracts: can they be exercised freely?

Parties to commercial contracts generally assume that the express written terms of a contact will be given effect relatively strictly under English law.

However, recent court decisions illustrate the courts’ willingness to look beyond the written terms of contracts and to imply unwritten terms in order to give effect to what they consider to have been the parties’ intentions.

Overview

In one recent case, the High Court decided that a clause in a share option agreement – which stated that the option could only be exercised with the consent of the board of directors of the granting company – did not give the board an unequivocal veto.

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CABBAGE WILL GET UK PORRIDGE – BUT IS IT GREY ENOUGH?

Readers of this blog may well be familiar with the regional exhaustion rule which applies to IP rights in the EU, including (for the time being) the UK.  Under this rule, IP rights can be exhausted where they are put on the market with the consent of the proprietor in one part of the EU, even if they are parallel imported to another Member State and sold there as ‘grey’ product.  But there is no international exhaustion, which would allow the sale of grey goods from countries outside the European Economic Area[i], even where they have been sold on those markets with the brand owner’s consent.  All of this is now fairly well established.

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The GS Media case: “He’s making it up as he goes along!”

rawpixel-com-252127The GS Media case: “He’s making it up as he goes along!”[1]

This is not a Brexit whinge, but when I reread the ECJ’s decision in the GS Media case[2], I do understand where 52% of my countrymen were coming from.  Generally, the EU has (IMHO) been a force for good in IP law, by trying to keep the law up to date in a period of insane technological development and promoting consistency across the member states to reduce the number of local wrinkles that businesses have to deal with.

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