On 12 October 2020, the English High Court handed down judgment in respect of various preliminary issues in the case of Travelport Limited and others v WEX Inc. The dispute concerns the issue of whether or not the occurrence of the global COVID-19 pandemic engaged the material adverse effect (“MAE”) provisions in an SPA in
On 3 September 2020, the UK Government announced it will review its policy on the future UK offshore oil and gas licensing regime as part of the wider aim of achieving net zero emissions by 2050. The government’s stated aim is to support a transition to low carbon energy sources, while getting the benefit from…
Last week’s UK-EU summit in Brussels had been billed as “crunch time” for a future trade agreement to be reached between the UK and EU in time for any deal to be ratified before the end of the transition period, which expires on 31 December 2020.
There are many consequences of no agreement being reached. One consequence of legal significance is that court proceedings commenced after 31 December 2020 will no longer benefit from EU rules providing for the reciprocal enforcement of judgments, and a streamlined process for enforcement, pursuant to the so-called Recast Brussels Regulation 1215/2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (the “Regulation“). This is important because without the Regulation, enforcing UK judgments in EU jurisdictions, and vice versa, is likely to be a more cumbersome and uncertain process, and therefore more time-consuming and expensive.