Wrongful credit meaning

In this issue: Contract law Building safety Infrastructure projects Energy projects Environmental issues Construction industry news Daily and weekly news alerts New and updated content Construction trackers Contract law Supreme Court confirms the ‘Mackay v Dick’ notion is not part of English law; wrongful prevention of a condition’s fulfilment yields damages only, not a debt (King Crude Carriers SA and others v Ridgebury November LLC and others) The Supreme Court in King Crude Carriers SA v Ridgebury November LLC [2025] UKSC 39 unanimously decided that English law does not recognise the so‑called ‘Mackay v Dick principle’, by which a party that improperly stops a contractual condition being met is treated as though the condition were satisfied. The Court held that the sellers’ claims to deposits could not succeed as debts; their exclusive remedy lay in damages for breach of contract. The judgment underlines that English contract law should turn on construction and implied terms,...

In this issue: Public procurement Brexit highlights Brexit SIs Post-Brexit transition guidance Equality and human rights Constitutional and administrative law Judicial review Subsidy control and State aid Other Public law news Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Public procurement New National Procurement Policy Statement published ahead of PA 2023 go-live The Cabinet Office has issued a refreshed National Procurement Policy Statement (NPPS) that outlines strategic priorities for public purchasing. Laid before Parliament under section 13(3)(c) of the Procurement Act 2023, it takes effect on 24 February 2025 to align with the PA 2023 go-live and will continue unless withdrawn, revised or replaced. Alongside the NPPS, government has released two new Procurement Policy Notes focused on small business procurement spend targets and social value. It has also set out plans for a suite of tools and measures to further enable...

PI & Clinical negligence horizon scanner—July 2025 [Archived] ARCHIVED: This Practice Note is archived and is not maintained. It summarises the principal legal developments relevant to personal injury and clinical negligence practitioners as at July 2025. For developments predating this horizon scanner, see PI and Clinical Negligence horizon scanning and key cases—overview. Key PI and clinical negligence developments The personal injury discount rate—a review In late 2024, the Lord Chancellor, Shabana Mahmood MP, revealed the outcome of her five‑month review of the discount rate, initiated in July 2024. One month after the new +0.5% discount rate took effect, Thea Wilson (barrister at 12 King’s Bench Walk) assesses its impact on cases, the responses from claimant and defendant representatives, and the consequences of the change for legal practitioners. See News Analysis: The personal injury discount rate—a review. MoJ announces reduction in CFO’s interest rates The Ministry of Justice (MoJ) has announced lower interest rates for the Courts Funds Office’s (CFO) special and basic accounts...

This Practice Note summarises the principal legal updates relevant to personal injury and clinical negligence practitioners as at 2 March 2026, aimed at assisting current practice. For earlier developments, see PI and Clinical Negligence horizon scanning and key cases—overview. Key PI & clinical negligence developments Eighteenth edition of the Judicial College Guidelines due The 18th edition of the Judicial College Guidelines (JCG) will be released on 9 April 2026. The Lexis+® UK PI & Clinical Negligence team will refresh the JCG link within our Key Resources on the Lexis+® UK PI & Clinical Negligence homepage, together with all connected materials. Law Society publishes practice note on conduct of litigation following Mazur v Charles Russell Speechlys Following the High Court’s decision in Mazur v Charles Russell Speechlys [2025] EWHC 2341 (KB), the Law Society has issued guidance for solicitors, law firms and legal businesses to ensure that only individuals authorised under the Legal Services Act 2007 undertake the conduct of litigation...

This glossary sets out numerous expressions regularly encountered in the restructuring & insolvency sphere. Words shown in bold within definitions are themselves explained in other entries in this glossary as well. A Article X The MLIJ contains a single provision named Article X, aimed at jurisdictions that have already implemented the MLCBI, like England, or are weighing its adoption. Article X states: ‘Not withstanding any prior interpretation to the contrary, the relief available under [insert a cross-reference to the legislation of this State enacting Article 21 of the UNCITRAL Model Law on Cross-Border Insolvency] includes recognition and enforcement of a judgment’ (see Practice Note: UNCITRAL model law on recognition and enforcement of insolvency-related judgments (MLIJ): Article X). Asset-backed security (ABS) A form of security anchored by asset pools, for example loans, leases, and credit card receivables. Assimilated law From 1 January 2024, ‘retained law’ has been retitled ‘assimilated law’. The body of domestic law originally arising from EU obligations, created by the European...