Insights: June 2018

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A historic moment for the new Telecoms Code

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The first hearing under the new Electronic Communications Code took place yesterday before Martin Rodger QC, the Deputy Chamber President of the Upper Tribunal (Lands Chamber). The hearing concerned an application by CTIL for an Interim Code Agreement to install equipment onto the rooftop of a hotel in Paddington. Wayne Clark of Falcon Chambers, instructed […]


Observe the formalities: the Supreme Court upholds anti-oral variation clauses

Leigh Callaway |

In a judgment with potentially wide-reaching commercial ramifications, the Supreme Court in Rock Advertising Limited (Respondent) v MWB Business Exchange Centres Limited (Appellant) [2018] UKSC 24, has overturned the Court of Appeal’s decision by holding that a ‘No Oral Modification’ (NOM) clause was legally effective. In 2011, Rock Advertising Ltd (Rock Advertising) entered into a licence […]


Fladgate advises Cenkos Securities on Aus$17m placing for 88 Energy

Nigel Gordon |

Fladgate advised Cenkos Securities plc on the English elements of an offering (in the UK and Australia) to raise AUD 17 million for 88 Energy by way of a placing. The placing was implemented by an accelerated bookbuild. 88 Energy has a 63% working interest and operatorship in approximately 342,000 acres onshore on the prolific […]


The right to choose: notifications and PI policies

Ian Smith, Kathryn Davies |

In the recent case of Cultural Foundation (t/a American School of Dubai) & another v Beazley Furlonge Ltd & others, the court considered issues surrounding the notification of insurance claims, where a prospective claim had the potential to fall within two separate notification periods. The case concerned professional indemnity insurance policies that provided insurance to […]


Duty of care of lenders and valuers to third parties

Wing Tang, Tom Bolam |

In the recent case of Rehman and Rehman v Santander UK Plc and BNP Paribas Real Estate Advisory and Property Management UK Limited the High Court was asked to consider whether a lender owed a duty of care to a borrower’s guarantors in respect of a valuation report commissioned by the lender. Facts The borrower […]


Buyer’s solicitor beware

Alice Morrissey |

We now live in a world where identify theft is commonplace and fraudsters are becoming increasingly sophisticated in their pursuit of unsuspecting victims as modern technology helps to facilitate their dastardly deeds. The recent cases of Dreamvar (UK) Ltd v Mishcon de Reya (Dreamvar) and P&P Property Ltd v Owen White and Catlin LLP (P&P) […]


No ‘get out of jurisdiction free’ card available to sanctioned entity

Frances Jenkins, Alex Sandwell |

The recent decision in the Kamoto Copper Company SA v (1) Africa Horizons Investments Ltd and (2) Ventora Development SASU case highlights the challenges that a party subjected to US sanctions may face attempting to circumvent an exclusive jurisdiction clause in favour of the English courts. The Claimant, a subsidiary of the mining giant Glencore, […]


Limitation for contribution claims – take care

Christian Charles |

In commercial disputes, it is not unusual for the claimant’s losses to be caused (or contributed to) by a number of different parties.  For instance, the claimant may have elected to pursue the party with the deepest pockets, or the loss may have been caused by one of the defendant’s subcontractors.  In such circumstances, the […]


Fladgate advises shareholders of M25 Business Centres Ltd on its sale to BizSpace

Hamilton Forrest, Julian Lewis, Gavin Whitney, Mike Tremeer |

Fladgate has advised the shareholders of M25 Business Centres Ltd on its sale to BizSpace. M25 Business Centre, which is located in Waltham Abbey, Essex, totals 55,000 sq ft across four storeys with office space ranging from 90 sq ft to 2,454 sq ft.  The property also includes meeting rooms, break out areas and executive […]


Fladgate acts on £92.5m acquisition for Flora Developments Limited

Hamilton Forrest, James Fry, Sophie Burke, Luke Morris, Mark Harnett, Ildikó Kozó, Sunil Sheth, Victoria Brownell, Adam Baker, Mythily Katsaris |

Fladgate LLP acted for Flora Developments Limited, a subsidiary of ABIL Infraprojects Limited, India which is a large Indian construction, real estate development and hospitality company, for the acquisition of prime real estate in Central London known as Griffin House, 5/6 Strand, London WC2N 5HR for a purchase price of £92.5 million. The property currently […]


CVAs and leases: What obligations are left if the CVA fails?

Leanne Meredith |

Proposing a Company Voluntary Arrangement (CVA) is currently a popular option for companies facing financial difficulties. Creditors of companies such as BHS, Prezzo, Toys R Us, Maplin, Byron Burgers and New Look have all recently agreed to the companies operating under CVAs. Several other retailers are rumoured to be likely soon to follow suit. The […]