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City lawyer, Patrick Raggett, has been allowed to proceed with his claim against the governors of a Jesuit run school he attended. He is claiming £5 million in damages (a record amount) for sexual abuse suffered in the 1970s at the hands of a now deceased priest at the school before it closed in 1978. 

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Read More UK: City Lawyer Sues Governors of Jesuit School for £5m Alleging Sexual Abuse

UK Chancellor of the Exchequer, Alistair Darling, announced in the 2009 Budget measures to address the challenge for businesses as a result of the reduction of trade credit insurance (see our previous blog on recently published guidance governing the trade credit insurance industry by clicking here). 

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Read More UK: Chancellor Announces a ‘Top-Up’ Trade Credit Scheme in April 2009 Budget

The Court of Appeal has held, in dismissing an appeal from summary judgment given in the Commercial Court, that lease agreements for aircraft can fall within the Unfair Contract Terms Act 1977’s (“UCTA”) exemption for ‘international supply contracts’, even if the contract does not specifically provide for the aircraft to be transported to another country. …
Read More UK: UCTA’S EXEMPTION TAKES FLIGHT – Trident Turboprop (Dublin) Ltd v First Flight Couriers Ltd [2009] EWCA Civ 290

In IMT Shipping & Chartering GMBH v Chansung Shipping Co Ltd, owners of Zenovia [2009] EWHC 739 (Comm), the appellant time charterer appealed against the decision of arbitrators concerning the status and effect of a notice of approximate redelivery date given by the charterer to the respondent ship owners. …
Read More UK: Notice of Approximate Redelivery Date by Time Charterer Does Not Give Rise to Promissory Estoppel and Prevent Subsequent Change

The FSA has published Policy Statement 09/7 (the PS) in connection with its review of the limits under the Financial Services Compensation Scheme (FSCS). The PS addresses changes to FSCS limits in connection with insurance, insurance mediation, investments and home finance mediation and home finance lending and administration which will come into effect on 1 January 2010. …
Read More FSA to Simplify FSCS Compensation Rules

For the first time, the ABI has on 21 April published guidance governing the trade credit insurance industry. The guidance, which is not legally binding, is published in the form of a Statement of Principles outlining how trade credit insurers operate and what policyholders can expect. …
Read More UK: The Association of British Insurers (the ABI) Publishes a Statement of Principles on Trade Credit Insurance

City lawyer, Patrick Raggett, is suing the Jesuit run school he attended for £5 million in damages alleging sexual abuse in the 1970s by the now deceased Father Spencer, a priest at the school before it closed in 1978. If successful, the claim will be by far the largest court award for damages in England for sexual abuse (the current record being £600,000). …
Read More UK: City Lawyer Sues Jesuit School for £5 million Alleging Sexual Abuse