Category: Law

Final word from the Court of Final Appeal on the ‘deadweight’ warranty

On 10 September 2014, the Court of Final Appeal in Hong Kong handed down its judgment in Hua Tyan Development Ltd v Zurich Insurance Co. Ltd and Another (The “Ho Feng 7″) [2014] HKCFA 72. The full text of the case can be accessed via the following link: http://www.hklii.hk/cgi-bin/sinodisp/eng/hk/cases/hkcfa/2014/72.html?stem=&synonyms=&query=Hua%20Tyan%20Development In summary, the Court of Final […]

“The DC Merwestone” in the Court of Appeal

On 16 October 2-14, the Court of Appeal in the United Kingdom has handed down its judgment in Versloot Dredging BV; SO DC Merwestone BV v HDI Gerling Industrie Versicherung AG and the others (The “DC Merwestone”) [2014] EWCA Civ. 1349. The full text of the judgment can be accessed here. In summary, the Court […]

Publishing of Insurance Bill

The English and The Scottish Law Commissions have published its report on ‘Insurance Contract Law: Business Disclosure; Warranties; Insurers’ remedies for Fraudulent Claims; and Late Payment’. The full report can be found athttp://lawcommission.justice.gov.uk/docs/lc353_insurance-contract-law.pdf The report contained the draft ‘Insurance Bill’ which is now in the House of Lords. The draft ‘Insurance Bill’ can be found […]

Briefing on the new Hong Kong Companies Ordinance and its Impact on Directors’ duties and liabilities

Peter Gregoire General Counsel, AIG Insurance Hong Kong Limited The new Hong Kong Companies Ordinance (CAP. 622) (“New Ordinance”) which came into force on 3rd March 2014, seeks to provide a modernized legal framework for Hong Kong companies. The objectives of the New Ordinance are to enhance corporate governance, ensure better regulation, facilitate business and […]

Insurance Regulation in Hong Kong: A Paradigm Shift

Hong Kong’s Insurance Companies (Amendment) Bill 2014 was gazetted on Friday 25 April 2014 and presented to the Legislative Council (LegCo) for a first reading on 30 April 2014. The Legislative Council Brief and Bill are available from the LegCo website at: Brief and Bill. This new legislation, which follows several years of consultation and […]

Hong Kong Court of Appeal’s ruling on ‘deadweight’ warranty and duty of disclosure

Introduction In Hua Tyan Development Limited v Zurich Insurance Company Limited [2012] HKCU 1632 the Court of First Instance decided in favour of the insured in respect of the duty of disclosure under an insurance policy. More than a year later, the Court of Appeal handed down a judgment [2013] HKCU 1858 that overturned the […]

“Perils of the Sea” and “Fraudulent Devices” – The DC Merwestone” [2013] EWHC 1666 (Comm)

The recent decision of Mr Justice Popplewell in Versloot Dredging BV v. HDI Gerling and others (The DC Merwestone) [2013] EWHC 1666 (Comm)) in the Commercial Court is of considerable significance to marine insurers and non-marine insurers alike, since it involves a detailed examination and hostile critique of the development and application of the concept […]