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  11/10/2024

  International

  The use of good faith arguments in time-bar disputes

  Good faith obligations are often raised in international construction disputes to overcome time-bar defences raised by employers. This Law-Now considers the approach to enforcing time-bar clauses under English law and in civil law jurisdictions before considering a recent DIFC decision which arises under the unique combination of English and civil law contained in the DIFC’s Contract Law.Time-bars under English lawThe English courts have traditionally shown themselves to be supportive of enforcing time bar clauses if they are not strictly complied with. Such clauses are intended to promote...

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  04/10/2024

  International

  A week in the world of ESG

  A lot can happen over the course of a week in the world of ESG. Since Wednesday 25 September 2024, there have been several important developments in Europe and the US and, while we don’t claim to cover every development, this is a summary of those that have most captured our interest and attention.As ever, please reach out if you would like to discuss any of these areas in more detail.European Commission begins infringement process regarding transposition of the CSRDOn Thursday 26 September 2024, the European Commission (“EC”) announced that it has sent letters to 17 EU Member...

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  02/10/2024

  International

  Taskforce on Inequality and Social-related Financial Disclosures launched

  On 23 September 2024, the Taskforce on Inequality and Social-related Financial Disclosures (“TISFD”) was launched.The TISFD, which has been launched to bring attention to the financial risks presented by inequality and other social-related issues to companies and financial institutions (“FIs”), has said that it will develop a global framework for companies and FIs to include more effective disclosures about impacts, dependencies, risks and opportunities related to social issues in their public reporting.Yet another disclosure framework?Standardised, measurable reporting...

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  30/09/2024

  Southeast Asia, APAC Region

  Malaysia launches National Sustainable Reporting Framework

  Malaysia has launched a National Sustainable Reporting Framework (NSRF) in support of its commitment to reduce its economy-wide carbon intensity (measured against GDP) by 45% in 2030 compared to 2005 levels, and to achieve net-zero emissions by 2050.The NSRF was developed by the Advisory Committee on Sustainability Reporting (ACSR), an inter-agency committee comprising representatives from the Securities Commission Malaysia (SCM), the Audit Oversight Board of SCM, Bank Negara Malaysia, the Companies Commission of Malaysia, Bursa Malaysia, and the Financing Reporting Foundation.The NSRF uses the...

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  10/09/2024

  International

  CMS Annual Review of English Construction Law Developments: An International Perspective

  We are pleased to announce the publication of the 2024 edition of our internationally focused Annual Review of English Construction Law Developments. The Annual Review summarises key developments in English construction law over the previous calendar year including developments in related common law jurisdictions. The publication has been prepared with our international clients in mind and aims to provide a greater degree of background and analysis than our regular Law-Now alert service.This year’s edition has a strong focus on exclusion and limitation clauses, with more than half of the...

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  10/09/2024

  APAC region

  No room for ignorance: Singapore High Court clarifies directors’ duties

  Inter-Pacific Petroleum Pte Ltd (in liquidation) v Goh Jin Hian [2024] SGHC 178 In what could be seen as a wake-up call, the High Court of Singapore clarified the scope of director’s duties in Singapore, emphasizing the minimum standard of care required.BackgroundInter-Pacific Petroleum Pte Ltd (“IPP”), a petrochemical and ship bunkering company, was placed under judicial management in September 2019, and later liquidated in March 2021. IPP had borrowed over US$150 million to fund its cargo trading and bunkering transactions. These sums were never repaid to the banks. IPP’s...

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