The Supreme Court has now delivered the highly anticipated final judgment clarifying insurer’s liabilities under business interruption policies in relation to Covid 19 losses. The Supreme Court upheld the earlier High Court ruling which provided good news for policyholders. The proceedings were instigated by the Financial Conduct Authority (“FCA”) under the Financial Markets Test Case […]
The High Court has delivered its first test case judgment providing some certainty on the scope of insurance cover for businesses being hit by Covid 19. Subject to any revision on appeal, this judgment is the authority to define the meaning of “occurrence” of a contagious disease such as the Covid 19 virus. The court […]
The FCA has now completed the first stage of providing clarity regarding the cover available to businesses affected by Covid-19. The FCA’s assessment following a review of the standard types of policies confirms our view that cover will in the majority of insurance products be limited to events of physical damage to the business premises […]
The Financial Conduct Authority (FCA) has requested several insurers to clarify their position on COVID-19 related business claims before seeking guidance from the courts by way of declaratory judgment. The FCA aims to create authoritative case law in anticipation of a flood of disputes over policy wording and COVID -19 cover. This step will indeed […]
There has been a great deal in the press recently about insurers rejecting coronavirus claims and disappointed policy-holders. Some of those speaking publicly on behalf of the insurance industry have not done much to dispel the confusion and get to the nub of the issue. The issue is not one of what the insurer “intended” […]
What is BI Insurance? BI Insurance covers losses which result from closure of business. BI Insurance is usually part of a commercial combined policy. What does BI Insurance cover? If cover exists: loss of income; fixed costs such as: payroll, operating expenses and business loan repayments; and costs of temporary relocation. What circumstances give rise […]
Fladgate was pleased to act on the sale of Red Tiger Gaming Limited, a leading online casino game software supplier to digital entertainment company, NetEnt. The accelerated deal completed on Thursday 5 September 2019 with the initial consideration being £197m and up to £23m may be payable in addition in 2022 on an earn-out basis. […]
Fladgate was pleased to act for KCR Residential REIT plc on the subscription by private equity fund, Torchlight for 9 million ordinary shares for a total subscription of £4.05m and the grant of an option to subscribe for an additional 50 million ordinary shares. KCR intends to consolidate its presence in the UK and to […]
For the third year running, our Sports Business Group is pleased to announce our sponsorship of SportsPro Live 2019. SportsPro Live has established itself as the leading event that hosts the biggest influencers in the industry.
“We are all trying to hack out a pathway through a dense thicket of amended legislation, burgeoning case law and ever-changing standard form contracts.” Sir Rupert Jackson, S&T (UK) Ltd v Grove Developments Ltd  EWCA Civ 2448 In a highly anticipated and significant judgment, the Court of Appeal has upheld the decision of Coulson […]
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