Readers who have been following the Covid-19 business interruption litigation in the USA will know that the courts have largely, at summary judgment stage, dismissed claims for coverage alleging that the virus caused physical damage to insured premises.
That question has been now been pronounced upon by a jury trial.
A Missouri Federal jury considered
The insured was locked out of its computer systems with the hard drives encrypted as a result of a ransomeware attack. It ultimately paid the requested ransom with four bitcoins valued at nearly $35 000 before it regained access to its computer systems. The court held that, if fraud was established, the insurers would have
A contract of carriage had been concluded by way of an exchange of e-mails. After conclusion of the contract, the customer had signed a credit application with standard trading conditions which contained an exemption from liability for loss or damage.
The appeal court found that the credit application with the exemption clauses did not form
This blog was co-authored by Michelle David, Director and Nomonde Sithole, Candidate Attorney
It is important for a decision-maker to hear submissions from all interested parties. Failure to do so can result in a decision being irregular on the basis that the decision-making process was defective. This principle came to the fore in the Financial
This blog was co-authored by Shawn Barnett, Director and Hishaam Khan, Candidate Attorney
On 20 October 2021 the Supreme Court of Appeal upheld the appeal of JP Markets (Pty) Limited against an order of the High Court which placed it in liquidation. The SCA found that it was not just and equitable to place JP
In a draft declaration issued on 20 November 2020, the FSCA proposed to include crypto assets as a category of financial product under the Financial Advisory and Intermediary Services Act, 2002 (“FAIS”). We wrote about this previously, here.
Speaking to the draft declaration in a September 2021 media briefing, Ms Olaotse
The Massachusetts highest court found that an insurer is obliged to compensate the claimants not only for repairs to their vehicles to restore them to pre-collision condition but also for what is known as inherent diminished value (IDV). IDV damages are included as part of the amounts to which a claimant is legally entitled to
The Supreme Court of Appeal, in Pelham Stephanus Bothma and Others v Tertius Bothma N.O and Another (Case number 748/2019) [2021] ZASCA 46 (15 April 2021), re-affirmed the position regarding the interpretation of legal documents, re-stating the principle that only admissible evidence of context, conservatively applied, may be led in resolving an interpretation dispute.
The
In the judgment, Swiss Re International Se v LCA Marrickville (Pty) Limited, the court discussed the principle that an insured must, under a contract of indemnity, prove the extent or the amount of the loss claimed because the indemnity only concerns actual loss and the deductions to be made from the losses.
The court
This blog was co-authored by: Tshegofatso Rammutla, Associate; Darragh Meaker, Associate Designate and Devan Falconer, Candidate Attorney.
The proposal in the Companies Amendment Bill of 2021 published for public comment on 1 October 2021 for the exclusion of subsidiary companies from the limiting provisions relating to inter-group financial assistance should be enthusiastically supported.
Section 45