Direct Agreements – Back from the dead?

In what will be a relief for contractors, the Court of Appeal has overturned the High Court decision, and held that payments made to contractors by financiers pursuant to a direct agreement are not voidable transactions recoverable by a liquidator. While some may see this as a return to the previous position there are a…

Building warranty insurance

Lloyds of London has confirmed its intention to underwrite a new building warranty insurance scheme. The scheme, which is based on a similar model in Britain, hopes to cover around half of the new-build market. Cover under the scheme is intended to last 10 years from completion creating an overlap with the longstop limitation period…