The UK Court of Appeal had to decide whether the word “private” in the phrase “private placement, offering or other sale of equity instruments” in an engagement letter only qualified “placement” or alternatively qualified “offering or other sale” as well. The court found it qualified all the nouns listed.
While there is no firm grammatical
This particular matter involved the interpretation of a section of the Petroleum Products Act, 1977 which gives “any person directly affected by the decision of the Controlling of Petroleum Products” the right to appeal to the minister against such decision. That phrase is used in many statutes challenging government decisions.
The applicants were the holders
In a case still to come to court in the UK, insurers and their insured are in a dispute whether the deluge of rain and flooding that occurred in England in September 2023 resulted in damage caused by a “storm”. The property damage and business interruption policy limited cover for a “storm” to GBP25 million.
The Chairperson of the Financial Services Tribunal refused a firm of brokers and an individual broker permission to appeal a decision of the FAIS Ombud by which they were obliged to pay one client R330 000 and another R550 000 plus interest for investing their money in an inappropriate high-risk investment contrary to the mandate
The insured under a warranty and indemnity policy alleged that the exclusion of a breach of anti-bribery and anti-corruption laws would result in a total exclusion of liability for a loss arising from the covered bribery and corruption warranty and that it should not be literally enforced. The court held that the exclusion did not
The appellant borrowed money in terms of a loan agreement which entitled the lender to pay any rates, taxes, water and electricity on behalf of the borrower and to recover the amount, failing which to execute the debt against the property. When this happened the borrower said that the provision was unenforceable because it was
The insured under an umbrella insurance policy faced with numerous asbestos-related injury lawsuits failed to persuade a Texas court that the insurer had a duty to defend the claims. The insurer was obliged to defend claims “not covered” by the underlying policy. The insured unsuccessfully contended that “not covered” included “no longer covered”, which was
On 21 September 2023 the Superior Court of Canada held a reinsurer bound under a retrocession agreement to a follow the settlements clause. The fronting reinsurer paid the lead insurer the full amount of a $140 million settlement and sought to recover the retrocessionaire’s share. The retrocessionaire said it was not bound by the follow
In this UK case, previously discussed HERE, the reinsurances provided cover “in respect of Property Damage only as a result of Direct Physical loss of or damage to the interest insured”.
The insuring clause indemnified the reinsured against “physical loss or physical damage to buildings and contents” and the Occurrence definition referred to the
This judgment dealt with a disputed indemnity claimed by the insured in respect of the loss of its warehouse. The warehouse was lost as a result of seizure by the Taliban when US forces withdrew from Afghanistan in 2021. By reason of the seizure the insured lost possession and control of the warehouse.
The question