The essence of a service charge is that the landlord provides certain services and facilities for the benefit of the occupiers of a multi-let building and the occupiers collectively reimburse the landlord for those costs by paying a fair proportion of the costs of those services ...
Welcome to the third and final part in our series of articles on the Building Safety Act 2022. In Part 1 of our series of articles on the Building Safety Act 2022 we discussed the greater exposure to claims due to extensions in limitation periods and the measures aimed at addressing failures to remedy historical safety defects. In Part 2, we discussed the dutyholder regime and, in this final part, we look at the new gateway regime for higher risk buildings ...
Switch2 Energy, Shoosmiths and BEIS have come together to provide an update on how regulation, rising energy prices and decarbonisation targets are impacting heat network operators and customers. This second webinar, in a series of three, looks at what to do with existing buildings in relation to heat networks ...
An amendment to Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing Ordinance (“AMLO”) will be introduced to the Legislative Council for first reading on 6 July 20221, as the next step toward establishing a licensing regime for virtual asset service providers (“VASPs”) early next year ...
Welcome to the second part in our series of articles on the Building Safety Act 2022. In Part 1 of our series of articles on the Building Safety Act 2022 we discussed the greater exposure to claims due to extensions in limitation periods and the measures aimed at addressing failures to remedy historical safety defects. In Part 2, we discuss the dutyholder regime and look at the steps developers can take now to prepare ...
The regulations incoprorate requirements on occupational pension scheme trustees under at 2019 Competition and Markets Authority Order to carry out a tender process for fiduciary management services and set objectives for their investment consultants. The Occupational Pension Schemes (Governance and Registration) (Amendment) Regulations 2022 (Regulations) will come into force on 1 October ...
This was introduced on 6 April 2022 and is an essential part of the recruitment process, as this will ensure you have a statutory excuse against a civil penalty and allow you to remain compliant as your duty of sponsors if you currently hold a sponsor licence. The digital right to work check can only be made by Identity Service Providers (IDSPs) for British and Irish Citizens as physical proof of documents are expected to finish by 2025 ...
Throughout my career as a banker and as an attorney, as well as through experiences with friends and their families, I have noticed that there is no topic more taboo than talking to someone about their death and how they intend to distribute their accumulated assets during their lifetime. It is incredible that, for many, this topic is so difficult to face with an objective mind to leave their estate affairs in order, no matter how small it may be ...
The Kentucky Supreme Court’s recent decision in Estate of Worrall v. J.P Morgan Bank, N.A. demonstrates the dangers to a trustee seeking a release from liability when distributing trust assets upon termination without following the statutory requirements. In Estate of Worrall, a corporate trustee sought to liquidate the trust assets of a terminating trust and conditioned the subsequent distribution of the assets on the beneficiary signing a release and indemnification agreement ...
One of the most basic questions under the False Claims Act—what facts a relator must plead to state a claim—is also one of the most difficult to answer. The Supreme Court is considering multiple certiorari petitions seeking to resolve a circuit split in the application of Rule 9(b)’s heightened pleading standard to the FCA ...
June 28, 2022 By: Michael Flynn* In its recent Semiannual Risk Perspective, the Office of the Comptroller of the Currency (OCC) has highlighted the difficulties banks face finding adequate numbers and quality of hires for compliance oversight. While there are several reasons for this issue, it comes at an especially inopportune time, when banks face increasing compliance demands and regulator requirements that target compliance activities and Chief Compliance Officers specifically ...
Welcome to the first part in our series of articles on the Building Safety Act 2022. The Building Safety Act received Royal Assent on 28 April 2022. While many of the provisions will be implemented over the next 12-18 months, the industry is being urged to get ready now. Dame Judith Hackitt stated in a recent HSE Bulletin: “The clock is now ticking and the pace is accelerating. Change is going to happen this time – there’s no denying it anymore!” ...
Insolvency practitioners are undoubtedly alive to the risks of ignoring or mis-handling crypto assets and the threats of misfeasance or unfair harm claims that could follow. In this, the first in a series of articles on the subject, the message is simple – the technical details might appear arcane but provided you take specialist advice, a crypto asset is no different from any other asset you come across – keep calm and carry on ...
Military action has made adjustments to the activities of the vast majority of companies in Ukraine. Unfortunately, for many employers, the issue of revising the terms of remuneration of staff in the direction of reduction has become relevant. The Law of Ukraine “On the Organization of Labor Relations in Martial Law” (the Law), which entered into force on March 24, reminded of the restriction of the constitutional right to work for the period of martial law ...
Prior to the entry into force of the FDI Screening Regulation on 11 October 2020, there was no EU-wide formalized cooperation among the Member States and the European Commission on these matters. In the EU, the European Commission’s strong expectation is that all 27 EU Member States will put national FDI screening mechanisms in place. A national screening mechanism in all 27 Member States serves to safeguard all individual Member States against potentially risky foreign investments ...
Introduction On June 24, 2022, the 13th NPC Standing Committee adopted an amendment to the Anti-monopoly Law at its 35th meeting, following the submission of a second deliberation draft on June 21, 2022. The amendment will enter into force on August 1, 2022 ...
The Guernsey Housing Association has recently advised that there are currently more than 500 people on the waiting list for affordable housing. Affordable housing is housing that is reserved for certain groups of people whose needs are not met by, or cannot afford to rent or buy property in, the private market ...
Regulation brings uniformity and security, which may feel anathema to the fundamental premise of distributed ledger technology (specifically blockchain and the nascent crypto industry blockchain technology allows) – a world that needs neither trust nor centralized authority. Nevertheless, two U.S. senators are pushing to reconcile these seemingly contrary positions and priorities ...
The Court of Appeal has given some much-needed clarity on this issue in the recent decision of Abbey Healthcare (Mill Hill) Limited v Simply Construct (UK) LLP [2022]. In a majority judgment, the Court of Appeal reversed the first instance decision and held that the collateral warranty in question was a construction contract within the meaning of s.104(1) of the Housing Grants, Construction & Regeneration Act 1996 (the Construction Act) ...
In the lead up to the UK COVID-19 Public Inquiry, we look at the impact the pandemic has had on the Education sector. Education has been particularly badly affected by worldwide COVID-19 restrictions, with 184 country-wide school closures, leaving 1.53 billion out of school, and impacting 87.6% of the world’s total enrolled learners1. The move to online learning One of the biggest changes for the sector was the move to remote learning ...
In a judgment handed down on 14 June 2022 in The Federal Republic of Nigeria v JPMorgan Chase Bank, N.A [2022] EWHC 1447 (Comm) (FRN v JPMC) the court again considered the scope of the Quincecare duty and gross negligence. The decision is good news for Banks. The case related to the payment of over $1 billion by JPMorgan Chase (JPMC) to accounts held by a Nigerian company called Malabu Oil and Gas Limited (Malabu) ...
An LTAF is a UK authorised fund which offers greater flexibility in terms of assets that it can invest in than other types of UK authorised fund. It has more liquidity than more traditional fund structures such as private equity limited partnerships ...
