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The much anticipated decision of the UK Supreme Court in a test
case addressing insurance coverage issues arising in connection
COVID-19 business interruption ( BI ) claims was handed
down on January 15, 2021 in
FCA v. Arch Insurance (UK)
Ltd., [2021] UKSC 1. The ruling favoured insureds, with
the Supreme Court unanimously dismissing appeals brought by
insurers and allowing all four of the appeals (two on a qualified
basis) brought on behalf of insureds.
Proceedings were brought by the Financial Conduct Authority
( FCA ) last year under the Financial Markets Test Case
The recent Supreme Court of New South Wales decision of
NTT
Australia Digital Pty Ltd v Cover Genius Services Pty Ltd
serves as a reminder to all that once a deed has been signed, it
can be enforceable even if copies executed by both parties
haven t been exchanged. It also provides timely insight on what
tenants must do to qualify for COVID-19 rental relief.
Facts
NTT leased premises from Perpetual and Dexus (
Dexus
Entities). NTT sub-leased the premises to a third party,
Society One, before negotiating an assignment of the lease to Cover
Genius Services (
CGS).
A deed of assignment of the lease (
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After a series of court cases in Quebec relating to the payment
of rent in light of government-imposed restrictions resulting from
the COVID-19 pandemic (COVID restrictions), the Superior Court of
Québec rendered a decision of interest on January 5 in the
context of the restructuring proceedings commenced by Groupe
Dynamite Inc. and certain affiliates under the
Companies
Creditors Arrangement Act (CCAA).
Background
Dynamite, a clothing retailer with over 300 stores in Canada and
the US, is pursuing a plan of arrangement under the CCAA. Pursuant
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COVID-19, a pandemic is an unprecedented crisis which has spread
across 209 countries and territories around the world. The Indian
market has also suffered due to the pandemic and the lockdown
enforced by the government to contain the pandemic. Due to lockdown
imposed by the Central Government on March 24, 2020, businesses in
India have faced huge losses. One of the markets which was also
impacted by the pandemic is the real estate market for leasing
commercial spaces.
Due to the pandemic the commercial leased spaces were not used