Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 30 SEPTEMBER 2008

Misrepresentation In Joint Ventures

HFW
HFW
Contributor
HFW

HFW

HFW is a sector-focused law firm with people who have a real passion for the sectors they work in,...

View firm profile
Explore more from HFW

In Abu Dhabi Investment Company & ors v. H. Clarkson & Company & ors (26 June 2008) the Court of Appeal has held that a special purpose vehicle created by joint venture partners may bring a claim in misrepresentation even where it was not formed when the representation was made.

United KingdomTransport
Damian Honey
Damian Honey

In Abu Dhabi Investment Company & ors v. H. Clarkson & Company & ors (26 June 2008) the Court of Appeal has held that a special purpose vehicle created by joint venture partners may bring a claim in misrepresentation even where it was not formed when the representation was made.

Abu Dhabi Investment Company (ADIC) entered into a joint venture with Norasia Shipping Limited to operate ten container ships. Norasia made representations to ADIC about the speed, performance and profitability of the vessels which turned out to be false. ADIC subsequently invested in the joint venture through a SPV, Al Shira'a Marine Investments (ASM), which raised capital for the investment from third parties. The joint venture collapsed after 18 months and ASM lost its entire investment.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

A Guide For Businesses Considering Self-driving Fleets

Self-driving vehicles could transform commercial fleets, but the UK's new Automated Vehicles Act 2024 creates a complex regulatory framework that redistributes legal responsibility between fleet operators, vehicle occupants, and automated driving system providers. Before committing to significant investment in automated cars, vans, HGVs or passenger vehicles, general counsel and procurement teams must understand what the technology is legally authorised to do, who carries each responsibility
United KingdomTransport
Weightmans LLP
Weightmans LLP
Article

Supply Chain Market Update: Rates Hold High As Trucking And Air Stay Tight While Ocean Shows Early Signs Of Stabilizing

Transportation rates remain elevated across all major modes as capacity constraints persist in trucking and air freight, while ocean markets show early signs of stabilization following inventory front-loading activity. Despite some moderation from peak levels, rates across global shipping, air cargo, and North American trucking continue to run significantly above prior-year benchmarks due to ongoing network disruptions and structural capacity limitations.
United KingdomTransport
AlixPartners Asia LLC
AlixPartners Asia LLC
Article

Hostile UAS Operations: Aviation Resilience And Liability

Recent drone incidents at Leipzig/Halle Airport and in Lithuanian airspace have exposed critical vulnerabilities in European aviation security, raising complex questions about civil liability, State responsibility, and the adequacy of existing regulatory frameworks. As hostile UAS operations grow more sophisticated, airports and airlines must urgently reassess their contractual arrangements, insurance coverage, and operational resilience planning to address this evolving threat.
GlobalTransport
Burges Salmon LLP
Burges Salmon LLP
Article

A Tailored Regime: PRA And FCA Consult On UK Insurance Captives

The UK's Financial Conduct Authority and Prudential Regulation Authority have unveiled Stage 1 of a new tailored regulatory framework for insurance captives, designed to be proportionate, competitive, and reflective of captives' lower risk profiles. With consultations closing in October 2026 and implementation targeted for mid-2027, the regime promises streamlined authorisation, bespoke capital requirements, and simplified supervision—but will it be enough to compete with established offshore jurisdic
United KingdomInsurance
HFW
HFW
Article

Insuring Offshore Wind Growth Amid Rising Risks, Defects And Claims

The offshore wind industry faces unprecedented insurance challenges as it scales rapidly to meet global energy demands. With subsea cable failures, design defects, and evolving technologies creating complex coverage issues, insurers and wind farm operators must navigate LEG exclusions, series loss clauses, and contingent business interruption claims. How can the insurance market balance risk limitation with the viability of this critical renewable energy sector?
United KingdomInsurance
HFW
HFW
Article

Update To French Insurance Code Regarding Time Limits For Claims Handling In “damage Insurance”

France has enacted new legislation imposing strict time limits on insurers for handling property and casualty insurance claims, requiring offers or reasoned refusals within two to six months depending on expert involvement. The law mandates payment within 21 days of acceptance and grants the French Prudential Authority oversight powers, though implementation details await a forthcoming decree.
FranceInsurance
HFW
HFW
Article

Disclosure Risks For Insurers As A Non-party To English Arbitration Or Court Proceedings

When can insurers' claims handlers' correspondence and documents be disclosed in English arbitration or court proceedings? This article examines the boundaries of Legal Professional Privilege and explores the circumstances under which materials produced by P&I Club and H&M claims handlers may be subject to disclosure obligations, even when the insurer is not a party to the proceedings.
United KingdomInsurance
HFW
HFW
Article

UK National Security Designations – More Restrictions, More Screening, More Complexity

The UK has introduced a new designation regime under the National Security Act 2023, creating criminal offences for supporting designated bodies involved in foreign power threat activity. Commercial organizations must now screen against these non-sanctions designations, which carry penalties of up to 14 years' imprisonment and unlimited fines, as the designated entities will not appear on the UK Sanctions List.
GlobalGovernment, Public Sector
HFW
HFW