The role of insurance in managing the economic effects of COVID-19

COVID-19 has been affecting life and businesses around the globe. The developments over the last few days have been moving fast: the World Health Organisation declared the disease as pandemic, the US has restricted travel from certain countries and many countries are on either lockdown or self-isolation rules. A key and primary focus of businesses … Read more

When will the courts find it necessary to imply terms into agreements?

The English High Court in Lehman Brothers International (Europe) (In Administration) v Exotix Partners LLP [2019] EWHC 2380 (Ch) found it necessary to imply a term to a debt security trade agreement that was otherwise unworkable. It is generally uncommon for a Court to imply terms into a commercially negotiated agreement given the restrictive nature of … Read more

Test for rectifying terms of written contract for common mistake: England and Wales considers subjective while Hong Kong remains objective

In an important recent decision (FSHC Group Holdings Ltd v GLAS Trust Corporation Ltd [2019] EWCA Civ 1361), the English Court of Appeal confirmed that the test for rectifying a contractual document on the grounds of common mistake is a subjective one – clarifying the previous uncertain state of the law on this point.  The court confirmed … Read more

Latest bank victory – Hong Kong High Court dismisses mis-selling claim

The Hong Kong Court of First Instance has recently handed down its judgment in Shine Grace Investment Ltd v. Citibank, N.A. and Another (HCCL 28/2008), a case relating to alleged mis-selling of equity accumulator contracts by Citibank. In dismissing the plaintiff’s claim, Mr Justice Peter Ng applied the Hong Kong Court of Appeal’s (CA’s) reasoning … Read more


Parties to commercial contracts often insert a “no oral modification” (or NOM) clause to prevent attempts to undermine written agreements by informal means. Such clauses are intended to prevent contracting parties being bound by subsequent variations unless the specified formalities (for example, it is fairly typical in commercial contracts that a variation must be recorded … Read more

Supreme Court decision clarifies basis for the award of Wrotham Park damages

We discussed aspects of “Wrotham Park damages” (also called “license fee damages” or “negotiating damages”) in Herbert Smith Freehills Hong Kong office’s recent Contract Disputes Seminar “Getting your just deserts: remedies for breach of contract”. To recap, in some cases where there has been a breach of contract, instead of awarding damages calculated on the … Read more