Publication
Greece
The applicable legislation establishing a national screening mechanism for foreign direct investments (FDI) and implementing Regulation (EU) 2019/452 in Greece is Law 5202/2025, which was adopted on 22 May 2025 (Greek FDI Law).
United Kingdom | Publication | January 2021
The Supreme Court has handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2021] UKSC 1, more commonly known as the ‘FCA Test Case’. The FCA Test Case was brought by the Financial Conduct Authority on behalf of policyholders under the Financial Markets Test Case Scheme in order to determine whether certain non-damage clauses commonly used in business interruption property insurance policies would cover losses caused by the cessation of business due to the COVID-19 pandemic. The FCA Test case was brought with the agreement of eight insurance companies to resolve legal issues of general importance to the insurance market.
The Test Case has attracted significant media attention and the judgment was much anticipated. The decision will have an impact on future insurance claims and is not limited to those resulting from the pandemic.
On January 15, 2021, the Supreme Court handed down its judgment on appeal which was ‘leapfrogged’ from the decision of the High Court (FCA v Arch Insurance (UK) Ltd and others [2020] EWHC 244). Six of the eight insurance companies appealed the first instance decision, as did the FCA in respect of those issues on which it had not been successful.
There were six issues that the Supreme Court considered:
Lords Hamblen and Leggatt gave the main judgment, with which Lord Reed agreed. Lord Briggs gave a separate but concurring judgment, with which Lord Hodge agreed. The court found as follows:
The FCA estimates that the decision will affect around 370,000 policyholders who will be able to recover losses relating to business interruption due to COVID-19. But the implications of the decision go beyond the pandemic and will impact claims that have nothing to do with the events of the past year.
Publication
The applicable legislation establishing a national screening mechanism for foreign direct investments (FDI) and implementing Regulation (EU) 2019/452 in Greece is Law 5202/2025, which was adopted on 22 May 2025 (Greek FDI Law).
Publication
The UK Government’s Department for Transport (the DfT) has published its Maritime Decarbonisation Strategy, setting out its plan for decarbonising maritime and new decarbonisation goals for the UK domestic maritime sector.
Publication
On 29 May 2025, in Finlayson v Caterpillar Financial Services Corp [2025] UKPC 24 (The Bahamas), the Judicial Committee of the Privy Council of the United Kingdom (the Privy Council) heard the appeal of Mr Garet O Finlayson and Mr Mark Finlayson (the Appellants) following the Supreme Court of the Bahamas and the Court of Appeal of the Bahamas finding in favour of the respondent, Caterpillar Financial Services Corporation (the Respondent).
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