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North Midland Building Limited v Cyden Homes Limited [2017] EWHC 2414 (TCC): Choose your extension of time provisions carefully
North Midland Building Limited v Cyden Homes confirms the primacy of the parties' contract in determining an extension of time. Specifically, in North Midland the High Court held that an amendment made to the construction contract meant that, in a situation of concurrent delay, North Midland Building Ltd (the Contractor) was not entitled to an extension of time from Cyden Homes Ltd (the Employer) and that the prevention principle, had it arisen, would not take precedence over the expressly agreed terms of the contract.
Read moreContractors and Insurers beware - Contractor found to bear the risk of an incorrect standard as fitness for purpose prevails in the Supreme Court
This morning the Supreme Court handed down its much anticipated judgment in MT Højgaard A/S v E.ON Climate & Renewables UK Robin Rigg East Limited and another [2017] UKSC 59. The Judgment should be of concern to both contractors and their insurers.
Read moreIs it game over for ground rent?
Considering the recent Government proposals to change the rules on ground rent and how those proposals may affect developers.
Read moreComplex contracts and intricate inconsistencies – a reminder of the court's approach to contractual interpretation
In a year in which the Supreme Court will have produced two Judgments on the topic of contractual interpretation, the TCC's judgment in 125 OBS v Lend Lease is a useful reminder of the courts' approach to resolving these disputes and their attempt to find a balance between the so-called literal and commercial approaches to interpretation.
Read moreEven More Challenging Times – 5 More Risks Following The Grant of Planning Permission
This post is the second in a two-part series in which we highlight ten areas where the risk of a third party challenge against the grant of planning permission might arise. The list we have given is not exhaustive, but all issues fall within the broad parameters for judicial review grounds, being decisions which have been taken irrationality, ultra vires (outside the scope of the authority's powers), or with procedural irregularity.
Read moreEIA – a new role for the planning system in considering the health impacts of development?
A summary of the EIA Regulations 2017 and the consideration as part of the planning application process of a proposed development's likely impacts on human health.
Read moreLet there be light
The importance of light in WELL Building Standards and how it sits within the context of planning law and rights of light
Read moreMIPIM: 10 things we learnt about you
A round up of things we learnt during our first experience of MIPIM week, from what to wear to how to plan your diary and make the most of your new connections
Read moreEngaging with Development – do we always know what we need?
Comment on the need for public engagement in the planning and development process, following a ULI presentation on The Well-Tempered City (author Jonathan Rose)
Read moreFinally, a victory in the on-going battle against business rates
The Supreme Court ruling in Newbigin v Monks represents a welcome and important victory for UK property developers.
Read moreGreen belt development - don't forget the law!
A review of the housing white paper in relation to green belt development noting that the Green Belt (London and Home Counties) Act 1938 is a further hurdle.
Read moreElectronic Signatures – the future of executing documents?
You could be forgiven for failing to spot the release of The EU Regulation on Electronic Identification and Trust Services in the Internal Market (910/2014/EU) (the Regulation), released post EU referendum. We consider the impact of this and the Law Society's Guidance Note on electronic signatures (the Guidance Note).
Read moreGarden Villages - are they necessary?
A recent Government announcement has proposed 14 sites across England to be the first garden villages, with 3 further sites to be new garden towns. But with a country full of deserted and derelict buildings, are garden villages and towns the only way forward?
Read moreOffice to Residential Permitted Development Rights – an update
The rights to convert a building from office use to residential without needing to submit a planning application are not new, although a recent decision from the Planning Court have brought them back to the headlines and suggest that they may be more flexible than anticipated.
Read moreFreedom of information: access denied by ministerial veto
Not since September 2012 when the Attorney General exercised powers under section 53(2) of the Freedom of Information Act 2000 (FOIA) blocking the release of correspondence between Prince Charles and seven government departments has there been a matter likely to attract attention to the use of the ministerial veto.
Read moreCourt of Appeal's opinion on good faith clauses
In our February blog we reported on Compass Group UK and Ireland Ltd (trading as Medirest) v Mid Essex Hospital Services NHS Trust [2012] EWHC 781 (QB) and the implications of the decision on the duty to act in good faith.
Read moreCosts overruns in Target Costs contracts
Who is liable for costs overruns in a Target Cost contract, and to what extent? AMEC Group recently went to the TCC to appeal against an arbitration decision which found the Secretary of State for Defence ("the Authority") would only be liable for actual costs which were reasonably and properly incurred.
Read moreNPPF – 1 year on: smooth transition or wasted opportunity?
Given that over 50% of Britain's local councils are still to adopt Local Plans, is the window of opportunity for local residents to take control of development in their local area about to close?
Read moreNew Kids on the Block : alternative funders in the real estate lending market
Over the last couple of years, there has been a surge in real estate lending by non-bank lenders as traditional banks started withdrawing from the market.
Read moreGood Faith Clauses
There is no general doctrine of good faith in English law and it is not therefore implied into contracts.
Read moreJCT Insurance Options: what's the right fit for fit-out?
Where a tenant is fitting out premises within a multi-occupied building, the JCT's standard insurance options are not always appropriate and, left unaddressed, place unintended and severe risks on the tenant.
Read moreGovernment property, Kirstie and Phil style?
Ok, so Ms Allsopp and Mr Spencer haven’t quite been called in yet, but almost.
Read moreIs the Green Deal a great deal?
There is no denying the Green Deal has many advantages but consider the deal in relation to short term leases and it may not be as great as it initially seems.
Read moreNEC3 Engineering and Construction Contract "Guidance Notes": more important than you realise for interpreting the ECC
Certain terms of the NEC3 Engineering and Construction Contract ('ECC') are open to interpretation, and the recent case of E-Nik Ltd v Department for Communities & Local Government [2012] EWHC 3027 (Comm) has cast into doubt whether even something as routine as VAT is crystal-clear under the ECC.
Read moreDevelopment incentives – but at what cost?
In light of what is starting to appear to be a wholehearted failure to persuade local communities to meet requisite housing targets, Nick Boles last week proposed self-proclaimed "bungs" to local communities.
Read moreLeaving customers without signal: the task of re-building the Telecoms Code
Now almost 30 years old, the Electronic Communications Code (the 'Code'), falls far short of representing the needs of a swiftly developing communications network.
Read moreH&M: Brave New World?
We have all been involved in lease negotiations where there are differences of opinion as to what is or is not institutionally acceptable.
Read moreEnd of the line for Village Greens?
Nothing can be more frustrating for a developer to see its scheme delayed or worse still derailed by an application for the registration of land as a town or village green ("TVG").
Read moreStamp duty land tax (SDLT) avoidance and corporate property deals – the importance of timing!
The First-Tier Tribunal has, in a recent decision, caused something of a stir for clients and advisors familiar with the well-trodden (and, usually, tax-efficient) use of offshore unit trusts to hold UK property.
Read moreNo bouncing back for directors
Banned! Fraudsters! – Terms used by the Insolvency Service for directors who abused the government backed loan scheme which was put in place to help businesses struggling during the pandemic.
Read moreWhat does a new Labour government mean for the management liability market?
We have a new government and the first Labour government for 14 years. What does it mean for the management liability market? We look at what Labour has promised and with that the areas those in the market will want to consider across directors and officers, employment liability and pensions.
Read moreFCA announces thematic review of retirement income advice
The pension freedom reforms changed the way consumers access their retirement funds. This FCA thematic review will put firms under the spotlight with a focus on how the retirement income advice market is functioning in response to changing consumer needs in the current economic downturn.
Read moreFCA responds to criticism of the Public Accounts Committee when it comes to BSPS with rejection of suggestion it should reconsider a wider defined benefit transfer review
In a July blog I reported on the House of Commons Public Accounts Committee report entitled "Investigation into the British Steele Pension Scheme". The blog set out a number of recommendations of the Committee in light of its investigations into the FCA's conduct and regulatory oversight of BSPS and, in particular, the 7,834 members that transferred out of BSPS into a personal pension scheme. We have now had a sneak preview of the FCA's response in the recent Committee minutes. Here's what the FCA had to say.
Read moreFCA Review of AML failings at challenger banks
Throughout 2021, the FCA conducted a detailed review into the financial crime controls of challenger banks as they continued to enter the UK financial industry at a rapid pace. Their surge in popularity is partially linked to the Covid-19 pandemic, which has prompted significant changes in the habits of service providers worldwide. Whilst the FCA's review indicated some evidence of good practice, it is clear that challenger banks must do more to reduce the significant risks of financial crime occurring both at the time of customer onboarding and throughout the subsequent customer journey.
Read moreFCA consults on British Steel redress scheme
The FCA intends to open consultation on an industry wide redress scheme covering British Steel Pension transfers. This is perhaps the only option left for the regulator, but a redress scheme will heap further pressure on an area of the advice industry that is already under fire.
Read moreFCA looks to tighten up appointed representative regime
On Friday the FCA published a consultation paper on potential changes to the existing appointed representative (AR) regime.
Read moreFCA set to expand climate-related reporting rules
The FCA has revealed it will consult on plans to require asset managers, life insurers and FCA-regulated pension schemes to meet climate-related disclosure rules. In doing so, the FCA is expanding the scope of firms required to report on climate-related risks in accordance with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).
Read moreFCA set to expand climate-related reporting rules
The FCA has revealed it will consult on plans to require asset managers, life insurers and FCA-regulated pension schemes to meet climate-related disclosure rules. In doing so, the FCA is expanding the scope of firms required to report on climate-related risks in accordance with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).
Read morePure Legal interest only mortgage claim – judgment in favour of the mortgage broker on limitation grounds as judge finds the damage was patent not latent
The first judgment following trial in a Pure Legal interest only mortgage claim has now been handed down, with the judge dismissing the claim on the basis that it was out of time, with the claimants having all requisite knowledge of the material facts of the damage from the outset of taking out the interest only mortgage. The judge also found the advice was not negligent.
Read moreWhen is a complaint a complaint under DISP?
A Court of Appeal judgment has recently addressed what constitutes a complaint for the purposes of DISP [Clive Davis v Lloyds Bank [2021] EWCA Civ 557]. It is important to identify when a complaint is made as a regulated firm for two primary reasons: first, a complaint triggers the dispute resolution procedure under DISP of the FCA's Handbook and second, it stops time running for the purposes of time bar when it comes to a complaint to FOS.
Read moreAdditions to FCA DB Transfer Guidance Published
The FCA have published finalised guidance regarding defined benefit pension transfers. The latest publication amends and adds to the draft published in June 2020.
Read moreFCA publishes finalised guidance for firms on the fair treatment of vulnerable customers
In February 2021, the FCA published guidance on the fair treatment of vulnerable customers with the aim of improving their customer experience.
Read moreFOS and the Adams v Carey decision – where are we as the Court of Appeal hearing starts?
Read moreCalls for increased regulation following rise in FSCS bills
The FSCS levy for the 2020/2021 was released earlier this year, causing frustration amongst many advisors in the sector. That frustration continues, with the FSCS making large compensation payments in respect of defined benefit (DB) transfers where many question the lack of earlier FCA intervention, which might have alleviated the problems in this area.
Read moreFCA appoints new CEO
The Financial Conduct Authority (FCA) has appointed Nikhil Rathi, the UK head of the London Stock Exchange, as its new permanent chief executive, making him the first BAME leader of the UK's city regulator.
Read moreEquity Release Market Under the Spotlight
Yesterday the FCA published its key findings from exploratory work involving "later life lending". This type of lending is broadly where consumers 55 and over use borrowing to access cash in later life. One of those options is equity release which was the focus of the FCA's work. The FCA's focus on equity release appears to have resulted from an initial review of the broader later life lending market, at which time the FCA identified some "poor outcomes" in equity release sales.
Read moreFCA advice checker – FCA statement on what customers should look out for in DB transfer advice
Wrapping up the documents published by the FCA on 5 June 2020 on the issue of defined benefit pension transfers (DB transfers), we address in this blog the FCA's "advice checker".
Read moreThe future of DB transfer advice - the FCA's policy statement
In part 3 of our blog series on defined benefit pension transfers (DB transfers) we look at the FCA's policy statement on changes to the DB transfer rules. The change that has attracted most press attention is the ban on contingent charging but there are other parts to the policy statement that are likely to have a much more substantive impact on the DB transfer market going forward.
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