The US Court of Federal Claims decided that the Federal Reserve was not entitled to demand equity ownership and voting control of AIG as a consideration for the bailout loan in 2008. There was no law permitting the Federal Reserve to take over the company and to run the insurer’s business in the commercial world.
Damages were sought and awarded by a court in Virginia, USA against an anaesthesiologist and her practice after the attending doctors were caught on tape mocking a patient while he was sedated during the course of a procedure.
Amongst other abuses, the surgical team mocked and insulted the patient and the anaesthesiologist called the patient
The Competition Tribunal in RCS Cards (Pty) Limited v The Consumer Finance Business of the JD Group Limited has affirmed that a restraint of trade clause contained in a sale of business agreement will not necessarily be considered anti-competitive. However, the restraint has to be justifiable in the circumstances and concluded for a reasonable period
Notwithstanding the coming into operation of the Consumer Protection Act on 31 March 2011, judgments relying on the Act are few and far between. The High Court judgment in Halstead-Cleak, Derek Anthony v Eskom Holdings Limited is probably the first judgment dealing with product liability under the Act.
A cyclist came into contact with a
The Companies Act 2008 introduced the key concept that a provision in a shareholders agreement that is inconsistent with the Companies Act and the company’s memorandum of incorporation (MOI) is void to the extent of the inconsistency. This was an about turn from the position under the previous Companies Act and the previous practice of
An auctioneer is the agent of the seller and the purpose of the auction is to obtain the best possible price for the benefit of the seller. The intention of an auction is not to provide the public with an opportunity to obtain bargains. Therefore a bid on behalf of the seller by the auctioneer
The Irish High Court confirmed that an insurer is entitled to rely on additional reasons for declining liability under a policy, although not included in the original rejection letter, and only raised in the context of subsequent litigation.
The insurer, under an income protection plan providing cover for disability, rejected the insured’s claim on the
The High Court has declared aspects of a long-established but often abused debt collection process unlawful, with potentially wide ranging consequences, as it could render hundreds of thousands of salary attachment orders unenforceable.
Aspects of a salary attachment process, known as an emoluments attachment order (EAO), was declared unconstitutional in The University of Stellenbosch Legal
In October 2014, the Mauritius Financial Services Commission (FSC) issued competency standards setting out the minimum technical skills and know-how expected from its licensees, which includes entities licenced as collective investment scheme managers (CIS Managers). The standards are part of the FSC’s drive to develop a more robust regulatory framework in Mauritius.
The FSC had