Consortium agreement meaning

Brexit highlights In this issue: Brexit highlights Brexit SIs Post-Brexit transition guidance Constitutional and administrative law Public procurement Judicial review Information law Subsidy control and State aid State security and intelligence State accountability and liability Other Public Law news LexTalk®Public Law: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information HM Treasury and European Commission publish joint statement on Withdrawal Agreement payments HM Treasury and the European Commission issued a joint update confirming ongoing progress on the Withdrawal Agreement’s financial settlement after the eleventh meeting of the Specialised Committee on Financial Provisions on 25 June 2025. The UK and the EU exchanged updates on work within the Committee’s remit and reviewed the annual reporting package delivered at the end of March 2025, alongside the ninth invoice sent by the Commission in April 2025. In accordance with...

A cohort of members within NDP Nieuwsmedia, the national trade association representing 95% of the Dutch commercial news sector, will voluntarily pool together their editorial content so they can bargain together collectively with AI developers. The consortium has concluded its first licensing deal with GPT-NL, an open, publicly funded large language model. GPT-NL already holds an agreement with the Dutch judiciary to...

In this issue: Ukraine Conflict Cases and Decisions Intermediaries and market practice Insurance types UK Regulation Cases tracker Dates for your diary New and updated content Daily and weekly news alerts LexTalk®Insurance: a Lexis®Nexis community Ukraine Conflict A consortium of reinsurers disputes any obligation to pay the Bank of Utah US$9.5m in relation to a jet engine said to be stranded in Russia following the country’s invasion of Ukraine, arguing the demand is statute‑barred by Russian law. See: Reinsurers say bank filed Russian jet engine claim too late. Cases and Decisions Ms Amlin Marine NV (for Ms Amlin Syndicate AML/2001) v King Trader Ltd. The Court of Appeal (Civil Division) upheld the finding that a ‘pay first’ provision in a marine policy bound the Charterer, dismissing the appellants’ challenge. The dispute related to cover placed by MS Amlin Marine NV for Bintan Mining Corporation (the Charterer), which had taken the...

This Practice Note highlights specific issues to bear in mind when preparing common forms of contractual joint venture arrangements. For broader guidance, refer to Practice Note: Drafting a contractual joint venture agreement. Consortium bids Parties' obligations The primary duty of every participant is to deliver a comprehensive, fully costed proposal for its allocated element of the project by the stated date, aligning with the third-party client’s requirements or the standards set out in the bid agreement. The parties typically also commit to lodging the overall bid by an agreed deadline, and to doing so within the timeframe stipulated. Clients often seek clarification on aspects of the submission, so each consortium member is commonly bound to furnish whatever additional information the client requests, as required during the bidding phase. It is also not uncommon, while tendering is under way, for the client to adjust the project specifications, which in turn may call for revisions to the original submission so that the submission reflects the new requirements. ...

Introduction to EU REACH ‘EU REACH’ denotes Regulation (EC) 1907/2006 of the European Parliament and of the Council, addressing the registration, evaluation, authorisation and restriction of chemicals. Effective from 1 June 2007, it replaced multiple EU chemical directives and regulations with a single, coherent regime, directly applicable across all EU Member States. Under EU REACH, the obligation to understand and manage the risks of chemicals placed on the EU market—and how they are used—falls on those who manufacture and/or import goods containing such substances. The regulation seeks to: secure a high level of protection for human health and the environment enable the unrestricted movement of substances within the EU market strengthen the EU chemicals industry’s competitiveness and drive innovation encourage methods other than vivisection and/or animal testing to assess hazardous properties This Practice Note is part of a broader suite of guidance on EU REACH. For additional aspects of the regime, see: EU REACH: Regulation 1907/2006—snapshot...

Deadlock (50:50) joint venture shareholders’ agreement This Practice Note provides guidance to drafters on preparing and/or reviewing a ‘deadlock’ or ‘50:50’ corporate joint venture agreement (JVA), also called a shareholders’ agreement. It addresses arrangements where two joint venture parties set up a separate limited company incorporated in England and Wales (the joint venture company, JVC), each becoming a shareholder with an equal shareholding, and where the JVA contemplates split exchange and completion, with conditions to completion. Outlined below are matters to weigh when drafting or assessing the key provisions of such a deadlock JVA. For more on establishing a corporate joint venture, see Practice Notes: Setting up a corporate joint venture-initial considerations and Setting up a joint venture-choice of structure. For guidance on documenting a corporate joint venture, consult Practice Notes: Documenting the corporate joint venture and The joint venture agreement, and Checklists: Corporate joint venture preliminary issues-checklist and Joint venture shareholders’ agreement-checklist. The following sections explore the relevant issues concerning the principal provisions of a...