The Supreme Court's judgment in the Financial Conduct Authority's test case on non-damage business interruption cover for losses arising from the COVID-19 pandemic has wide-ranging implications. In terms of the impact on property, this is a significant decision for both landlords and tenants, where premises were forced to shut under the government's instructions to businesses to close and stay at home and following the introduction of social distancing instructions in March 2020.
On 14 December 2020 Parliament passed the landmark Private Funding of Legal Services Act 2020. The act was published in the
Cayman Islands Gazette on 7 January 2021 but is subject to a commencement order and is therefore not yet in force.
Background
In the Cayman Islands, the doctrines of maintenance and champerty were both crimes and torts, which sometimes created obstacles for litigants seeking to enter into funding agreements with third parties to obtain financing for the litigation in return for a share of the proceeds.
Following the growing global prevalence of litigation funding (including in jurisdictions such as England and Wales and the British Virgin Islands, where maintenance and champerty have already been abolished), a flurry of applications seeking the approval of third-party funding agreements have come before the Grand Court in recent years. In recognising the growing limitations on the application of the maintenance and champerty doctrines, the Grand Court sough
On 19 January 2021 the Federal Court delivered a landmark decision in
PJD Regency Sdn Bhd v Tribunal Tuntutan Pembeli Rumah.(1) The apex court decided that in the event of delay of delivery of vacant possession for Schedule G and H-type contracts under Regulation 11(1) of the Housing Development (Control and Licensing) Regulations (HDR) 1989, the timeframe for calculating liquidated and ascertained damages (LADs) begins from the date of payment of the booking fee, not the date of the sale and purchase agreement (for further details please see Housing developers beware – Federal Court upholds
This article focuses on
PJD s impact on housing developers with respect to their completed and ongoing housing projects under Schedules G and H of the HDR.
From 15 February 2021, international arrivals to England must quarantine in a government-managed hotel if, within the 10 days before their arrival, they have been in or transited a country to which a travel ban applies. Additional post-arrival COVID-19 testing has been mandated from the same date. A raft of penalties will also apply for non-compliance.
In March 2020 the Comptroller of Revenue released a concession confirming that where companies had to alter their operating practices to compensate for the COVID-19 outbreak, the comptroller would not determine that such company had failed the economic substance test under Article 6 of the Taxation (Companies – Economic Substance) (Jersey) Law 2019. Given that the pandemic remains ongoing, the comptroller recently issued further guidance in relation to the concession.