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The Office of Foreign Asset Control (“OFAC”) has recently updated its explanatory document known as ‘Frequently Asked Questions Relating to the Lifting of Certain U.S Sanctions under the Joint Comprehensive Plan of Action (JCPOA) on Implementation Day’ (the “FAQ”). Among other things, the amended FAQ provides additional guidance to non-US persons seeking to carry out...

Summary The Supreme Court (“SC”) has unanimously held that a party may be entitled to set aside a settlement agreement (“SA”) due to fraudulent misrepresentation even where that party did not fully believe the representations at the time of entering into the SA. Facts Following an accident at work in 1998, the Claimant (“C”) brought...

Summary The Court of Appeal (‘CA’) dismissed a claim concerning the interpretation of an exclusion clause in a share purchase agreement (‘SPA’). The CA held that any ambiguity in a contractual provision should be resolved by adopting the narrowest interpretation available. Similarly, the contra proferentem rule applies even where both parties are subject to similar...