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In Europe

South Africa and UK: Adjudication bonds – The missing link in construction dispute resolution?

by and 4 Mins Read

In brief The construction industry faces challenges in enforcing adjudication decisions, limiting its effectiveness outside the UK. Adjudication bonds, emerging from the PFI market, offer a solution by guaranteeing payment of adjudicated sums. These bonds, typically 10-20% of contract value, ensure immediate payment upon noncompliance, reducing the need for lengthy legal proceedings. Successful implementation requires careful drafting and integration into existing contracts. Adjudication bonds incentivize compliance, enhance adjudication’s credibility, and improve project cash flow. This…

In Commercial Courts

At last: Germany gets English speaking Commercial Chambers and Commercial Courts and North Rhine-Westfalia is leading the way

by 7 Mins Read

1. The goal and the preparatory steps In February 2023, we had reported that the German Federal Ministry of Justice had published “Guidelines for the strengthening of the courts in commercial disputes and for the introduction of (English speaking) commercial courts”.[1] The guidelines were complemented by a parallel initiative to modernize German arbitration law.[2] The goal of both legislative projects was to strengthen Germany’s position as a judicial and business center and to enable German…

In Europe

United Kingdom: The role and achievements of the Supreme Court

by 9 Mins Read

Mustafaen Kamal was shortlisted as a top five finalist for the UK Supreme Court Essay Prize. The prize was commissioned to mark the 15th anniversary of the Supreme Court of the United Kingdom. In October 2009, the Supreme Court of the United Kingdom replaced the Appellate Committee of the House of Lords as the highest appeal court in the United Kingdom. The prestigious essay competition was judged by Lady Simler, Justice of the Supreme Court.…

In Tribunal for Economic Activities

France: The new “contribution for economic justice” – an incentive for the amicable resolution of conflicts?

by and 5 Mins Read

Effective January 1, 2025, twelve commercial courts have transitioned to become Tribunals for Economic Activities (hereinafter referred to as ‘TEA’). This reform was enacted under Law No. 2023-1059 of November 20, 2023, on the orientation and programming of the Ministry of Justice for the years 2023-2027, as well as Decree No. 2024-1225 of December 30, 2024 (the ‘Decree’). This initiative is part of a four-year pilot program designed to evaluate the advantages of consolidating the…

In Rule of Law

What is the rule of law and why is it important?

by 4 Mins Read

Mustafaen Kamal was shortlisted as a top five finalist for The City of London Solicitors’ Company Prize, awarded every year to promising trainees. The City of London Solicitors’ Company is a working company. Its members are required to practise or to have practised as a solicitor within one mile of the Bank of England or at Canary Wharf. For many years, the Company also functioned as the local Law Society for the City of London…

In Director's Liability

Germany: Wirecard board members liable for EUR 140 million

by and 7 Mins Read

Our last Wirecard update was some time ago.[1] For those who have erased Wirecard from their memories: Wirecard AG is the former German “stock market miracle” from Aschheim, a small community in Bavaria with around 10,000 inhabitants. Wirecard went bankrupt in June 2020 after it had turned out that EUR 1.9 billion in supposed funds in the Philippines were non-existent. It is one of the biggest financial scandals in post-war German history. There is a…

In Lugano Convention

Switzerland: Swiss Federal Supreme Court affirms that adversarial proceedings are a prerequisite for an order for payment to be enforceable under the Lugano Convention

by and 3 Mins Read

In its decision of 12 August 2024, the Swiss Federal Supreme Court (“SFSC”) deliberated on the enforcement of an order for payment by a court of a Lugano Convention (“LC”) member state in Switzerland (case no. 5A/94/2024 [in French], intended for official publication). Factual background A court in Bologna, Italy, issued an order for payment (so-called “decreto ingiuntivo telematico provvisoriamente esecutive”, which is a “Mahnbescheid” or “Zahlungsbefehl” in German) ordering the respondent in the Italian proceedings (and…

In ESG

United Kingdom: Navigating in the eye of the ESG storm

by 11 Mins Read

Jon McLeod of DRD Partnership set out how to deliver combined legal and communications response to contentious ESG challenges. ‘The problem’ In today’s rapidly evolving business landscape, Environmental, Social, and Governance (ESG) considerations have become pivotal for organisations across all sectors. ESG has become an established framework that helps stakeholders understand how an organisation manages core risks and opportunities beyond traditional financial metrics. Under a broad spectrum of factors, businesses are increasingly scrutinised for their…

In Consumer Protection

European Union: The CJEU confirms that a price reduction must be calculated based on the lowest price in the last 30 days

by , and 3 Mins Read

In brief The Court of Justice of the European Union (CJEU) has held that Article 6a(1) and (2) of Directive 98/6/EC of the European Parliament and of the Council of 16 February 1998 on consumer protection in the indication of the prices of products offered to consumers (“Directive 98/6”) must be interpreted as meaning that a price reduction of a product announced by a trader in the form of a percentage, or in the form…

In Digital Operational Resilience Act

Luxembourg: Implementation and enforcement of the Digital Operational Resilience Act into Luxembourg law

by and 5 Mins Read

In brief On 2 July 2024, the Luxembourg law (“Law”) implementing the new European framework for the effective and harmonized management of digital risks in the financial sector, namely the Digital Operational Resilience Act (DORA), was published in the Luxembourg official gazette. Like DORA, the Law will apply as of 17 January 2025. The Law designates the Commission de Surveillance du Secteur Financier (CSSF) and the Commissariat aux Assurances (CAA) as the competent Luxembourgish authorities responsible for ensuring that DORA is…

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