COVID-19 Governance: New legislation provides temporary relief from performance for selected Singapore-related contracts (Singapore)

On 7 April 2020, the Singapore Parliament passed the COVID-19 (Temporary Measures) Bill (the COVID Act), which, amongst others, offers temporary reprieve to qualifying parties or qualifying contracts: found here. The COVID Act is a bold move by the Singapore government to pre-emptively manage the foreseeable increase in legal proceedings for enforcement of contractual rights. … Read more

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

Thailand: Is your contract affected by the COVID-19 outbreak?

Since the COVID-19 outbreak began in January 2020, precautions have been implemented in many countries to combat the spread of the virus. These include, amongst others, travel bans, social lockdowns, event cancellations and expropriation of healthcare products by a number of governments. As a result, disruptions to the global supply chain has occurred and the … 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