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You Makes Your Choice And Takes Your Chances

Client Alert | less than 1 min read | 05.30.06

The Federal Circuit in the Winstar -related case of Old Stone Corp. v. U.S. (May 25, 2006) struck down a $118 million restitutionary damages award to the bank, explaining that, because the bank decided to continue operating after the breach occurred, attempting to make a go of it despite the government's breach, it had waived its right to declare a "total breach" and collect restitutionary damages to put it back in the pre-contracting situation when it went under several years later. On the other hand, foreseeable damages directly related to mitigating the effects of the breach, in this case $74.5 million, were available, and that part of the judgment was affirmed.

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Client Alert | 2 min read | 06.09.26

The Commercial Payments Bill: What Businesses Need to Know

Introduced to Parliament on 19 May 2026, the Commercial Payments Bill represents a significant reform to payment legislation. Targeting a problem that costs the economy £11 billion per year, the Bill introduces a package of hard-edged protections that businesses cannot avoid through contract....