Litigation funding : insurance in focus
It's a far cry from the American nuclear verdicts, but it's still a heavy price to pay on France's modest scale. The two lockdowns following the Covid-19 pandemic brought the French economy to a standstill. By decree, places open to the public, including the retail and catering sectors, were forced to close store.
Please note! You may be unaware that your insurance contracts are subject to the French Public Procurement Code !
In principle, companies, as legal entities under private law, are exempt from the provisions of the French Public Procurement Code (Code de la commande publique), which stipulates that insurance contracts must be put out to tender. However, you could be one of the exceptions... European legislation has extended the scope of application of the aforementioned code by laying down certain conditions.
Arbitration clauses in brokerage agreements : the art of writing to do nothing
Arbitration clauses are becoming increasingly common in brokerage agreements between policyholders and brokers, and between brokers and insurers, yet they are not always applicable in practice.
New Caledonia: The Minister of the Economy to meet insurers next week
The New Caledonian Chamber of Commerce and Industry already puts the cost of riots in the archipelago at 200 million euros. The problem is that insurers have reduced their levels of cover for this type of risk, and some may invoke “civil war” as a reason not to compensate their clients.
Business interruption: MMA insurer ordered to compensate for Covid-related loss of business
The French Supreme Court upheld a ruling by the Angers Court of Appeal, and ordered MMA to compensate an insured for damage to his clientele during the health crisis. The policy in question provided “all risks except” coverage.
The “BSA AIR”, a method of financing start-ups in times of uncertainty.
Created by the North American practice of financing start-ups, the Simple Agreement for Future Equity (SAFE) based warrant, BSA AIR in French (for Bon de Souscription d’Actions fondé sur un Accord d’Investissement Rapide) quickly crossed the Atlantic. Seductive by its ability to attract new money in the company, the tool has some limits.
Opening up of class action, a proposal under discussion.
The locks on class action have worked too well and the procedure has not been successful at all. The need to transpose European Directive 2020/1828 has led to a reform of the texts.
Aljadeed TV welcomes the result of our action that grants French depositors the right to act against Lebanese banks before French courts
Les déposants des banques libanaises sont tous signataires d’une convention d’ouverture de compte les contraignant à régler leurs différends devant le juge libanais. Les banques libanaises redoutent le procès à l’étranger et s’y opposent par le jeu de la clause attributive de juridiction. Une avancée a été obtenue pour les déposants sur le fondement de l’article 14 du code civil.
Ordering insurance for public authorities : an often overlooked pitfall
Beware of the insurer's right to terminate a claim during the term of the contract...