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It’s that time of the year again when the Kennedys Hong Kong financial regulatory team releases our annual review of financial regulatory investigations and proceedings. As we have done in recent years, we will review the regulatory enforcement lunar year that was in this e-bulletin, followed by a webinar after Chinese New Year with our prognosis on the year ahead – watch this space!
We have recruited a leading construction and insurance specialist to join its London team. Paul Lowe, formerly a partner at Weightmans, is experienced in all insurance matters relating to the construction industry including on both policy coverage and defence.
Case review 21/01/2022
Sections 25 and 25A of the Organised and Serious Crimes Ordinance (Cap. 455) (“OSCO”) have once again come under the spotlight in a recent judicial review.
What is Hostile or Warlike?: An in-depth look at the Merck war exclusion decision and its shortfalls
On January 13, 2022, the Superior Court of New Jersey, Law Division, held in Merck & Co., Inc., et al. v. ACE Amer. Ins. Co., et al., that the Hostile/Warlike Action Exclusion in various property policies did not prohibit coverage for the NotPetya cyberattack launched by the military arm of the Russian Federation government against the country of Ukraine.
Newly signed bill opens the door for bad faith suits against auto insurers providing UM and UIM benefits
On January 19, 2022, New Jersey’s Governor, Phil Murphy, passed S.B. 1559 into law, referred to as the New Jersey Insurance Fair Conduct Act (“IFCA”). The IFCA creates a private cause of action for injured motorists to sue insurance companies that “unreasonably” deny or delay paying claims for uninsured (“UM”) or underinsured motorist (“UIM”) coverage.
The appointments of Gavin Henderson and Daniela Fusi, both formerly Clyde & Co (Scotland) partners, takes the total number of fee earners to 23 across our offices in Edinburgh and Glasgow, with more new fee earners expected to join in the coming months as we enjoy another record year.
In the latest edition of Who’s Who Legal’s annual global Transport and Professional Negligence guides, 22 Kennedys lawyers have been recommended as ‘Global Leaders’ across eight countries (Belgium, France, Peru, Singapore, Spain UAE, UK, and the US).
Food labelling: recent key changes and initiatives in a bid to place the UK at the forefront of a fast changing area
The past few months have seen significant changes in the regulation of food labelling. Further change seems imminent also given the UK Government’s apparent continued appetite to update legislation relating to allergenic ingredients.
Michael Gove has become the latest housing secretary to make promises in respect of building safety in the wake of the Grenfell Tower tragedy. Specifically, under an ominous banner declaring “developers must pay”, Gove promised that leaseholders will not be required to meet the costs of cladding removal. While this is a positive development, there is currently little firm detail as to how it will be achieved.
The Building Safety Bill was introduced to the House of Commons on 5 July 2021, just over four years since the Grenfell Tower disaster. Royal Assent is expected to be given to the Bill in July 2022. In our latest factsheet, our experts explore how the Bill will impact every stage of a higher-risk buildings life, from planning, design, construction to occupation and management.