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Sequestration Found Valid Basis for Canceling Solicitation

Client Alert | less than 1 min read | 09.23.13

In Vinculum Solutions, Inc. (Aug. 5, 2013), GAO, relying on the "broad discretion" afforded to agencies to define their needs and manage their procurements, concluded that the IRS's need to reduce costs due to the ongoing budget sequestration was a valid basis for canceling a solicitation. This appears to be the first decision in which GAO has considered the impacts of sequestration on the procurement process, and it may green-light similar actions in the months ahead for agencies coping with the ongoing sequester and the uncertainties of the FY14 appropriations process.


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Client Alert | 8 min read | 09.08.26

Saxon Woods Investments Limited v Costa [2026] UKSC 21: Good Faith in the Boardroom

The UK Supreme Court has unanimously dismissed the appeal of Mr Francesco Costa, former chairman of Spring Media Investments Limited, in the first Supreme Court judgment to consider the scope of the duty under section 172(1) of the Companies Act 2006. The foundational position is that good faith requires honest conduct as well as honest thinking. A director's genuine belief that they are acting in the company's best interests will not excuse covert or disloyal conduct in pursuit of that belief. ...