Projects And Construction Law Update - July 14, 2015

Please see below Clyde & Co's latest projects and construction law update - a regular review aimed at providing up-to-date information for those in the construction and infrastructure industry.

We look at industry news as well as recent court decisions concerning:

an appeal against an alleged overpayment pursuant to adjudication proceedings whether a security document created a legal or equitable assignment of rights, which in turn affected who could sue under the assigned agreement clarity when determining which documents are to be of contractual effect whether a contribution claim could be brought out of time against a company where it had been part of a concealed cartel certain limitation of liability provisions contained in standard terms which were unreasonable under UCTA Industry news

Budget July 2015

Although there is little that's genuinely new from an infrastructure perspective in the budget and its accompanying "productivity plan", it's worth noting the infrastructure commitments that have been made or confirmed:

GBP 28 million in enhancement and maintenance of roads by 2021 A second Road Investment Strategy to be published before the end of this parliament A new Roads Fund from 2020-21, under which all revenue raised from vehicle excise duty in England will be invested directly back into the strategic road network Rebalancing of the economy through creation of the Northern Powerhouse, with further devolution to cities such as Manchester, Sheffield, Liverpool and Leeds GBP 30 million investment to connect northern England, with Oyster-type ticketing New enterprise zones for smaller towns GBP 5 million additional investment for Midlands Connect, to develop transport connections across the region, in its capacity as "Britain's engine for growth" A new announcement is the government's intention to place the Green Investment Bank in private hands, thus ensuring its future sustainability whilst also removing state aid constraints.

RICS publishes new Property Measurement standard

The Royal Institution of Chartered Surveyors (RICS) has published the RICS Property Measurement, 1st edition. RICS Property Measurement comprises three elements:

Professional Statement: Office Measurement. This applies only to office measurements International Property Measurement Standards (IPMS): Office Buildings Code of Measuring Practice, 6th edition. This applies to all building classes except offices This publication reflects the launch of the first international measurement standard, which aims to increase transparency and consistency in the way office buildings are measured globally. RICS Property Measurement will be updated to comply with other IPMS when they are published. The intention is that there will be IPMS for residential, industrial and retail buildings.

Late payment of commercial debts legislation: new regulation but no substantive change

BIS has published the Late Payment of Commercial Debts (Amendment) Regulations 2015 (SI 2015/1336).

The amendments are required to 'clarify' the complex provisions of section 4 of the Late Payment of Commercial Debts (Interest) Act 1998, which dictates the start date for statutory interest arising under the Act. Since 16 March 2013, this start date has been capped at 30 days for public authorities and 60 days (or more if not grossly unfair) for commercial debtors, implementing European Directive 2011/7/EU on combating late payment in commercial transactions.

The latest...