The future of the doctrine of penalties

On Wednesday 4^th November the Supreme Court handed down judgment in the cases of Cavendish Square Holding BV v Makdessi and ParkingEye Limited v Beavis, giving a definitive ruling (for the first time in a century) on the scope and continued existence of the doctrine of penalties in both commercial and consumer contracts, and has re-cast and developed the test for a penalty in a fashion which will be significant to practitioners across a range of areas.

On Thursday 5^th November, Joanna Smith QC and James McCreath, who appeared for the successful appellant Cavendish, will be giving a concise and practical exposition of the implications of what is now the leading and definitive authority in this area, an area which the Supreme Court considered has been misunderstood by Courts and practitioners alike.