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The UK Treasury has indefinitely extended the exemption from mandatory clearing for UK pension schemes using derivatives to manage investment risks that relate to the solvency of the scheme.
In the final twist of this much talked about case, a consent order was filed on 18 December 2024 dismissing the shareholder action brought by 460 institutional investors against Barclays Plc ("Barclays") following a confidential settlement.
Our New Year briefing, which discusses key developments for financial services firms in 2025, is available as a pdf below.
A claim against a UK mobile telecoms provider by its current and former franchisees alleges that the franchisor acted in bad faith. We look at what role good faith has to play in franchise agreements – and whether we are likely to see more disputes over this issue in future.
In case you missed it: Travers Smith recaps a dramatic year in the world of sustainability reporting.
The Labour Party's manifesto for the 2024 General Election contained an emphasis on the reform of the planning system, with a view to "unlocking" it to promote growth and development. Notably, one of the Government's key commitments was to update the National Planning Policy Framework ("NPPF") within six months of being elected.
When the UK's Modern Slavery Act (the "MSA") was introduced in 2015, it was considered world-leading, with the UK being one of the first countries in the world to mandate corporate reporting on modern slavery. Now, nearly 10 years on, the initial optimism appears to be waning.
In Spain v London Steam-Ship Owners’ Mutual Insurance Association Ltd,1 on 12 December 2024 the Court of Appeal upheld a Commercial Court ruling which refused to register and recognise a €855 million Spanish judgment issued against the London Steam-Ship Owners’ Mutual Insurance Association (the "Club"). The Spanish judgment was inconsistent with earlier arbitral awards issued in London in respect of the same dispute. In reaching this conclusion, the Court of Appeal recognised that the res judicata created by a binding arbitral award is essential in the legal order of the United Kingdom (UK), and therefore it would be manifestly contrary to public policy to recognise the inconsistent Spanish judgment in England & Wales.
An abridged version of this article was originally published in Artificial Lawyer here.
Earlier this month, local authorities in England were granted a new power to help them reinvigorate their local towns: they can now hold rental auctions to arrange lettings of vacant high street and town centre properties. In this briefing, we answer 10 frequently asked questions about the new regime from the perspective of a landlord.
An Energy Performance Certificate ("EPC") is a certificate, issued by an energy assessor, which shows information about the energy efficiency of the property to which it relates. It is a multi-functional tool: on a practical level, it helps owners and investors to understand and improve the energy performance of their own properties, and can give prospective buyers and tenants an insight into their likely energy costs.
The UK's Walker Guidelines for Disclosure and Transparency in Private Equity (the "Guidelines") have been updated, and a feedback statement was published by the BVCA on 18 December 2024.
An Australian court has held that bitcoin is personal property, in a way that highlights our concern that the Law Commission's Property (Digital Assets etc) Bill (the Bill), presently going through Parliament, will create an unhelpful "fork" in the international legal treatment of cryptoassets.
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A regular briefing for the alternative asset management industry.