In a milestone development for the legal, insolvency and business rescue communities, the Johannesburg High Court has announced the establishment of a pilot dedicated insolvency court. Effective from 14 April 2025, this initiative aims to streamline the handling of insolvency-related proceedings, providing a structured and expedited process for both applications and trials in insolvency and
Financial Institutions Legal Snapshot
Blog Authors
Latest from Financial Institutions Legal Snapshot
Insuring ‘direct damage caused by heat from molten metal’ is ambiguous (US)
A policy provision capped liability at USD10 million for “direct physical loss or damage caused by heat from molten material, which has been accidentally discharged from equipment”. The court found on the facts that the words were ambiguous as to what was “direct” damage and what was “caused by heat” so that some of the losses…
The legal formalities of suretyship in the digital age
This blog was co-authored by Adrienne Hendricks (Trainee Associate).
An insurance company entered into a financial service agreement with the first respondent close corporation. The second respondent bound herself as surety and co-principal debtor to the insurance company through a deed of suretyship. Pursuant to the deed of suretyship, the insurance company sought payment from…
English court upholds pre-eminence of Hague time-bar provisions
In February 2025, the English High Court in Tanga Pharmaceuticals Plastics Limited and others (the claimants) versus Emirates Shipping Line FZE (the defendant) rejected the defendant’s request for summary judgment and in doing so upheld the time-bar provisions contained in the Hague Rules incorporated into the bills of lading. The claimant’s claims to recover its…
Cover for “all parties for whom the insured undertakes to insure” (Aus)
An April 2024 judgment of the Federal Court of Australia decided that a subcontractor on a contract site was entitled to recover under the principal contractor’s insurance policy because it was a party “for whom the insured undertakes to insure for their respect rights, interests and liabilities”. In doing so, the court resolved conflicting provisions…
Arbitration award interrupts prescription
A February 2025 judgment of the high court addressed the issue of arbitration and prescription in a case involving whether a claim for unpaid rent had prescribed and whether the arbitration process affected the running of prescription. The court found that the claim had not prescribed, and that the arbitration proceedings had interrupted the running…
No medmal PI cover for previously reported incident (US)
In March 2025 a Georgia USA court held that a professional indemnity insurer had no duty to defend nor indemnify an orthopaedic surgery centre and one of its surgeons against a medical malpractice claim for failed spinal surgery because the policy excluded incidents previously reported to another insurer, which had been the case.
The policy…
Representations, warranties and the UK Insurance Act 2015
In March 2025, the UK Court of Appeal found that a provision in a warehousekeeper’s policy that it was a condition precedent to the insurer’s liability that during the currency of the policy the warehousekeeper “continuously trades under the conditions declared and approved by underwriters in writing” was a future warranty not a representation. The…
Agreement to agree ‘reasonable endeavours’ clause held unenforceable (UK)
In December 2024 the English high court held that a clause requiring the parties to use “reasonable endeavours” to agree a binding process for an expert determination to value and divide disputed businesses was an unenforceable agreement to agree.
The disputing parties entered into a settlement agreement to resolve litigation which was ongoing at the…
New Arbitration Act 2025 (UK)
The new UK Arbitration Act modernises the Arbitration Act of 1996 and will come into force on a date to be appointed.
Companies doing business or arbitrating subject to the laws of England should familiarise themselves with the key reforms in the 2025 act, which you can read about in this article from our London…