Insights

New UK legislation has come into force which may have significant implications in the event of the insolvency of one of the parties to a contract. Key provisions include the ability for a company to apply for a moratorium to protect it from creditors and the potential nullification of termination clauses.  The new legislation may be relevant to Members seeking recovery of unpaid debts from contractual counterparties in financial strife.

On 1st May, 2020, the Supreme People’s Court’s revised Provisions on Evidence in Civil Procedures (the “2020 Rules”) came into effect. Members who engage in litigation in China will be affected by the Rules, which will have a significant impact on the way in which litigation is conducted in China.

The task of quantifying the losses arising due to a breach of a contract of affreightment is not always straightforward. The recent decision in Palmali Shipping SA v Litasco SA [2020] EWHC 2581 (Comm) highlights the issues involved and provides welcome guidance. In particular, it considers the application of the “transferred loss principle” in the context of losses borne by different companies within the same corporate group.

2020年5月1日，中国最高人民法院修改的《关于民事诉讼证据的若干规定》（“《2020年证据规 则》”）生效。新证据规则将对中国诉讼活动的开展方式产生重要影响。这也会影响到在中国涉诉的 会员。

On 11th January, 2021, the US State Department re-designated Cuba as a State Sponsor of Terrorism (SST), six years after it had removed Cuba from the SST List.