Extending corporate liability under the Building Safety Act 2022 – can the corporate veil be protected?

Readers familiar with the Building Safety Act 2022 (the "Act") will be aware that the Act provides a number of ways in which owners and developers of residential buildings that are subject to safety defects can be required to remediate or fund the remediation of those defects.  Since the Act came into force, those who have been contemplating the acquisition of a corporate entity undertaking residential development have been concerned about their exposure to these liabilities under the Act, more specifically by way of Building Liability Orders or Remediation Contribution Orders.  In our latest podcast, Alex Wright (a senior associate in the HSF Corporate Real Estate team), Kate Wilson (a Professional Support Consultant in the real estate team) and Somers Brewin, a Vice-President in the transactional risks team at Lockton (the world's largest independent insurance brokerage) examine how the Act is presenting issues on corporate acquisitions of real estate assets, the guidance being provided by the Courts on the extent of these liability orders, and how the insurance market is developing to address these concerns.

Further detail on the products that Lockton are developing can be found here.  To learn more about the Act, please contact realestatepsls@hsf.com to request a copy of our magazine "Spotlight on Building Safety: 360° perspectives on the Building Safety Act 2022".