Our knowledge resources reflect the breadth and depth of our expertise, our insight into the issues which matter to your business, and our understanding of the markets in which you operate.
Artificial intelligence tools can be a game changer in outsourcing and other contracts for services - promising big wins in terms of costs, time, accuracy, scalability and productivity, to benefit both sides of the negotiating table. To reap those benefits, it is important to stay on top of the "new" risks associated with the use of AI in these arrangements.
In commercial contracts, the terms of payment are usually a key element of the parties' bargain – so if a customer fails to pay a material sum on time, then surely the supplier should have a right to terminate the contract? Quite possibly, but in practice it may not be as straightforward as this – and if the supplier reaches for the "big red termination button" prematurely, without a careful assessment of its rights, it can be a costly mis-step.
In its decision dismissing the appeal against the Competition Appeal Tribunal's ("CAT" or "Tribunal") order for two Defendant groups to use a single joint expert at trial, the Court of Appeal has made clear that the Tribunal's duty to restrict expert evidence to that which is reasonably required to resolve the dispute is the paramount consideration. While the issues of proportionality and the potential for conflicts of interest are relevant considerations in determining whether separate experts are required, those considerations must be assessed against the requirement to dispose of cases justly.
The UK Government has repeatedly emphasised its aim to remain "proportionate and well-targeted" and as "pro-business and pro-investment as possible" through its operation of the National Security and Investment Act (NSIA) regime.
With the general election now set for 4 July 2024, the main political parties have released their election manifestos. Below we summarise the key pledges of the main political parties relating to employment law and business immigration.
In a further twist of the MUR Shipping BV v RTI Ltd proceedings, the Supreme Court has overturned the Court of Appeal's decision and ruled that a "reasonable endeavours" proviso in a force majeure clause does not require a party to accept non-contractual performance. The judgment has important implications for the drafting and interpretation of force majeure clauses generally – and the impact of sanctions in particular.
Judgment was handed down last week on the substantial directors' duties and wrongful trading claims brought against former directors of various BHS companies[1]. The liquidators of those companies were successful in arguing that the directors were liable for wrongful trading (albeit at the latest date of six possible dates argued) and were also successful in bringing the first ever claim for "misfeasance trading"[2]. Whilst the judgment is very fact specific, it is an interesting analysis of so-called "insolvency-deepening" activity and shareholder value extraction. Moreover, it is a salient reminder to directors of their duties where they are operating in the zone of insolvency.
Find the latest news, views and our analysis of all the key announcements.
A regular briefing for the alternative asset management industry.
We are very proud to continue to be the Contributing Editor of the recently published International Comparative Legal Guide (ICLG) to Derivatives 2024.
What does the new Digital Markets, Competition and Consumers Act mean for private litigation? Whilst the Act shifts the dial forwards in some respects (including by adding clout to the relief available for certain competition law breaches, and by introducing a mechanism for damages to be claimed for breaches of the new digital regulatory regime), there are also some notable omissions.
In Drax Smart Generation Holdco Limited v. Scottish Power Retail Holdings Limited [2024] EWCA Civ 477, the Court of Appeal considered the sufficiency of a notice of claim made under an SPA.
Digital technologies are at the heart of the UK Government's vision for driving economic growth. The new DMCC Act empowers the UK's Digital Markets Unit (DMU), already set up within the CMA, to designate the biggest digital players with 'Strategic Market Status' (SMS) and, for those designated firms to: (1) set ex ante Conduct Requirements i.e. rules on what those firms must and must not do; (2) enforce Pro-Competition Interventions in order to remedy competition problems; and (3) require the reporting of M&A activity before deals are completed.
The European Securities and Markets Authority (ESMA) has published its Final Report on Greenwashing (Final Report).
Welcome to the second edition of the Travers Smith Outsourcing Spotlight. With an election due in July, we look at the likely impact of a Labour Government on outsourcing in the UK.
This update provides a brief summary of some notable recent developments from an international sanctions perspective. This includes the publication of a 'Tri-Seal Compliance Note' by certain government bodies in the US, emphasising the potential applicability of US sanctions to non-US persons and the corresponding risks of non-compliance, the impact of the EU's new "no Russia" law, which requires certain contractual obligations to be satisfied when exporting specific goods from the EU, and the EU's new directive imposing criminal liability on those looking to circumvent its sanctions regime.
What does the new Digital Markets, Competition and Consumers Act 2024 mean for competition law enforcement? Our five key takeaways are below, covering the substantive reforms made to investigations across the UK competition law sphere.
A regular briefing for the alternative asset management industry.