header-logo header-logo

Game over

24 April 2015 / Chris Nillesen
Issue: 7649 / Categories: Features , Procedure & practice
printer mail-detail
nlj_24_04_15_nillesen

Termination & its consequences. Chris Nillesen reports

Probably the single most important legal concept an in-house lawyer needs to understand is contractual termination and the consequences of termination.

In the recent case of Fujitsu Services Ltd v IBM United Kingdom Ltd [2014] EWHC 752 (TCC), [2014] All ER (D) 223 (Mar) the court was asked to interpret the meaning of an exclusion clause which sought to limit the parties exposure on termination of the contract. The exclusion related to loss of profits. While the claimant sought to recover its expected loss of future income (ie profits) the respondent sought to rely on the exclusion to include the expected profits under the contract in question. It was held the exclusion of lost profits as a category of loss was “clear and unambiguous”. As a result it is important that the party expecting to make a profit under the contract ensures that this profit is not captured by an exclusion and is expressly carved out from the exclusion of liability. In some respects this is similar to the

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

NEWS
Charles Pigott of Mills & Reeve reports on Haynes v Thomson, the first judicial application of the Supreme Court’s For Women Scotland ruling in a discrimination claim, in this week's NLJ
Charlie Mercer and Astrid Gillam of Stewarts crunch the numbers on civil fraud claims in the English courts, in this week's NLJ. New data shows civil fraud claims rising steadily since 2014, with the King’s Bench Division overtaking the Commercial Court as the forum of choice for lower-value disputes
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
Artificial intelligence may be revolutionising the law, but its misuse could wreck cases and careers, warns Clare Arthurs of Penningtons Manches Cooper in this week's NLJ
back-to-top-scroll