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Further analysis: Judgment handed down in FCA’s business interruption test case

The Commercial Court (the “Court”) handed down judgment in the COVID-19 business interruption (“BI”) insurance test case involving eight of the UK’s largest insurers on 15 September 2020. The remit of the proceedings was set out at paragraph 1: “This case has been brought by the Financial Conduct Authority (“the...

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Update: Judgment handed down in FCA’s business interruption test case

The Commercial Court (the “Court”) has handed down judgment in the COVID-19 business interruption insurance test case involving eight of the UK’s largest insurers. The Court found in favour of the FCA on the majority of the key issues, in particular in respect of coverage triggers under most disease and...

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Payment holiday and eviction pauses

I was recently surprised to learn what I thought was a well-known Chinese proverb, seen as part blessing and part curse, ‘May you Live in Interesting Times’ – has no real known origin. At best it appears to have stemmed from an erroneous translation from the 1930’s. Whilst the origin...

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Update: Commercial Court – Business Interruption insurance test case

The Financial Conduct Authority (“FCA”) issued legal proceedings on 10 June 2020 against a number of leading UK insurers which will lead to a test case in the Commercial Court concerning Business Interruption (“BI”) insurance policy wording and coverage. Arguments over BI coverage (or the lack thereof) have been widespread...

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Retail Line – Summer 2020

Welcome to the Summer 2020 edition of Retail Line As retail and leisure businesses begin the hard work of opening up the sector after the unprecedented lockdown, many of us are making adjustments and looking at issues we have never had to consider before. In this edition of Retail Line...

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New Corporate Insolvency and Governance Act

Addressing issues relating to UK business insolvency and updates the UK insolvency regime On 26 June 2020 the Corporate Insolvency and Governance Act (the Act) obtained Royal Assent. The majority of its provisions came into force that day. The Act addresses numerous issues arising for businesses from the COVID-19 pandemic,...

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UK IPO extends deadlines due to COVID-19

“Interrupted Days” The UK IPO has reviewed its decision in relation to “interrupted days” and has declared that its “interrupted days” period will end on 29 July 2020. Therefore, the first non-interrupted day will commence on 30 July 2020 and all normal operations will resume. The UK IPO has stated...

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Will COVID-19 be the NetZero game changer or false dawn?

Dale Edwards, Strategic Consultant – Green Energy, shares his thoughts on the potential failure to act on the climatic opportunity that COVID-19 has given. Recently I read an article, which commented that after the 2008 financial crisis, greenhouse emissions initially dropped. However, by 2010 they exceeded 2008 levels and have...

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Disruptive Asset Finance – COVID-19 edition

Welcome to the COVID-19 edition of Disruptive Asset Finance COVID-19 has shaken the world and thrown monumental challenges to every industry. This is an unprecedented time on both our business and social lives and there can be no doubt that its impact will be long lasting. No doubt many lenders...

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Commercial Court to test validity of Business Interruption insurance claims

This week the Financial Conduct Authority (FCA) provided further details of the test case it is about to bring in the Commercial Court concerning Business Interruption (BI) insurance policy wording and coverage. Arguments over BI coverage (or the lack of) have been widespread since the outbreak of the coronavirus pandemic,...

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