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Sanctions Do Not Excuse Non-Payment to a Non-Sanctioned Party If Obligation Accrues Prior to Sanctions Coming into Force

Takeaways - Sanctions operate prospectively and do not affect payment obligations to a non-sanctioned party accruing before sanctions became effective....more

4/24/2023  /  Economic Sanctions , Leases , Russia , UK

Point Taken: The UK Supreme Court Finally Confirms the General Law of Liquidated Damages (LDs)

In a long-awaited decision which overturned the Court of Appeal’s ruling in the Triple Point Technology vs PTT Public Company case, the UK Supreme Court confirmed the general law of LDs, which is that—absent clear words to...more

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