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  04/12/2024

  Hungría

  Hungary to introduce new statistical classification for economic activities on 1 January 2025

  As of 1 January 2025, a new version of the statistical industrial classification of activities (NACE’25) will replace the currently applicable classification system (NACE’08). The change was mandated by EU legislation, and as a result from 1 January 2025 economic activities pursued by Hungarian companies must be classified according to the new NACE’25.Hungary’s parliament has just adopted the act outlining the obligations of Hungarian companies regarding the upcoming changes to the activity-classification system specified below.Until 31 January 2025, the National Tax and...

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  02/12/2024

  United Kingdom

  "It Never Rains..." : Repair & Reality in the Upper Tribunal, Carey Group PLC v Ricketts (Valuation Officer) [2024] UKUT 356 (LC)

  In the recent judgment of Carey Group PLC v Ricketts (Valuation Officer) [2024] UKUT 356 (LC), the Upper Tribunal (Lands Chamber) found that despite water ingress rendering premises incapable of beneficial occupation the repair assumption operated to make the hereditament liable to a rate.The Upper Tribunal acknowledged there was a “question mark” over the relationship, as set out in the judgement of the Supreme Court in SJ & J Monk v Newbigin [2017] UKSC 14, between the repair assumption, which derives from statue, and its application as against the reality principle in ratings...

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  28/11/2024

  United Kingdom

  Insights on contribution claims under the 2010 Act from Riedweg v HCC International Insurance Plc & Anor

  The decision in Riedweg v HCC International Insurance Plc & Anor [2024] EWHC 2805 (Ch) provides critical guidance for insurers on potential contribution claims or recovery actions where there is a claim against them pursuant to the Third Parties (Rights against Insurers) Act 2010 (2010 Act).BackgroundThe case of Riedweg concerned a professional negligence claim brought by Nicole Marlene Riedweg (the claimant). The claimant alleged that Goldplaza Berkeley Square Ltd (Goldplaza) had negligently overvalued a property she contracted to purchase for £8 million in December 2016.  The claimant...

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  27/11/2024

  United Kingdom

  The CJC Review of Pre-Action Protocols – Phase Two Report (Final) now published

  On 15 November 2021, the UK's Civil Justice Council (CJC) published an Interim Report initiating a consultation on pre-action protocols (PAPs).  The consultation closed in January 2022. CMS responded to the consultation with interest, given the potential impact on the legal industry and insurers/insureds alike.It is the responsibility of the CJC, through its designated Working Group (WG), to make recommendations to the Civil Procedure Rules Committee (CPRC). It is for the CPRC to accept or reject those recommendations and draft the revised PAPs.The CJC's response was published in two parts....

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  27/11/2024

  United Kingdom

  Interpreting caps on liability in construction contracts

  A Court of Appeal decision earlier this month has reversed a first instance decision as to whether set-offs should be included within an overall cap on liability. The Court’s finding that set-offs should count toward the cap in this case contrasts with an earlier TCC decision in which recoveries under performance securities were held not to fall within a cap on liability. The earlier TCC decision does not appear to have been cited to the Court of Appeal and the tension between the two cases raises a number of risks and opportunities which parties would be well advised to consider in the drafting...

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  26/11/2024

  England and Wales

  High Court clarifies that the time to appeal an arbitration award runs from the date of the award, not the date of notification to the parties

  High Court clarifies that the time to appeal an arbitration award runs from the date of the award, not the date of notification to the partiesThe distinction between when an arbitration award is made (“Date of Award”) and when the parties receive notification of the award (“Date of Notification”) is often inconsequential. However, in Eronat v CPNC International (Chad) Ltd and another [2024] EWHC 2880 (Comm), the Commercial Court clarified that this distinction is key when it comes to filing timely appeals to the English Courts.Factual BackgroundThe arbitration clause at...

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