CMS Legal Update: Issues to be aware of when entering into English law contracts overseas
Across the globe, English law has become the governing law of choice for many cross-border transactions. In the Middle East it is estimated that English law governs two thirds of all M&A transactions and around half of all JV arrangements.
The choice of English law makes sense for a number of reasons. The English legal system, with its freedom of contract and hundreds of years of case law precedent, offers a degree of certainty and predictability that not many other jurisdictions can match. Additionally, international parties who otherwise have no nexus to England often turn to English law as a ‘neutral’ choice as it is a well-regarded and familiar body of law to govern key contracts, as well as having the added benefit of being written in the widely-used English language.
It is important to keep up with developments under English law. To help you keep up to date, we produce a quarterly update on a range of topics which are relevant to those entering into agreements outside of England. Whilst these updates are not intended to be exhaustive, and are no substitute for taking legal advice, they are intended to help local counsel keep up with key developments which could affect the contracts they enter into.
If you would like further details on any of the matters discussed in this update, please feel free to get in touch.