Margin ratchets are a concept that the banking and finance world are familiar with. Increasingly these are linked to ESG loans with both lender and borrower engagement. How do they work in practice, what are the benefits and what are the potential risks? Typically margin ratchets are linked to financial covenants – more often than not leverage – they incentivise borrowers to improve their financial health over the life of a loan ...
Following Prime Minister Boris Johnson’s recent announcement in Parliament, it is now certain that there will be a Public Inquiry into the handling of the pandemic. What is the planned Inquiry likely to consider, and who might be involved? For over a year now, the government’s focus has been on the here and now - managing and responding to the rollercoaster that is the COVID-19 crisis ...
At the end of Paris fashion week we look at the unexpected yet fascinating role of data analytics in the fashion industry. As one of the most important events in the fashion calendar, Paris Fashion Week, comes to a close, the catwalks remind us just how much we revere the creative, the inspirational, the artistic and the fluid ...
Sustained biodiversity loss since the industrial revolution has resulted in Britain being one of the most nature-depleted countries in the world. One response to this enduring problem are proposals to use the planning system to mandate biodiversity net gain (BNG) through the development management process. The aim of the requirements is to secure a minimum 10 per cent biodiversity net gain from new developments, with effect from November 2023 ...
Following the government’s consultation on calorie labelling for food and drink served outside of the home in 2018, qualifying businesses in the out of home (OOH) sector will be required to display calorie information per portion from 6 April 2022. What is changing? Currently, businesses serving non-prepacked food and drink in the OOH sector are not required to provide calorie (energy) information ...
UK REACH (Registration, Authorisation, Evaluation and Restriction of Chemicals) is the UK’s post-Brexit chemicals regulatory framework for the Great Britain (GB) market. It is regulated by the Health and Safety Executive (HSE) and has the overall aim of ensuring the protection of human health and the environment from the use of chemicals. UK REACH places responsibility for understanding and managing the risks associated with the use of chemicals on those who place them on the market (i.e ...
As January closes, it is worth reflecting on what has been a turbulent few months for UK retailers. The travails of Tesco are well documented (and seemingly never ending), whilst Marks and Spencer must have been mightily relieved that it’s own continued decline (food excepted) was slightly overshadowed. That’s before you add in the departure of the CEO at Morrisons and some fairly major surgery that’s underway at Sainsburys ...
Much has been written about hotel management contracts, their legal nature and their place within the different contractual arrangements available under Spanish law. Nevertheless, in our professional lives we too often encounter contracts that include clauses or use descriptions or definitions that collide head-on with how those contracts should actually be framed ...
Revised EPC regulations: Where commercial premises larger than 500m² are frequently visited by the public and have an EPC, it must now be displayed at the premises. This new requirement was introduced by the Energy Performance of Buildings (England and Wales) Regulations 2012, which came into force on 9 January 2013. They replace all existing regulations on energy performance certificates, display energy certificates and air conditioning inspections ...
Insolvency that stems from the obligations assumed by a joint venture may concern any of the associates. Such proceeding, especially when it has an international dimension, requires a broader perspective on some of the requirements set forth by law with respect to the initiation and application of the proceeding. Through its effects on the debtor, creditors and on the socioeconomic environment in general, insolvency is more than a mere legal procedure ...
A Data Protection Impact Assessment (“DPIA”) is a process which helps employers to identify, analyse and minimise the data protection risks of a project. But when should employers be using a DPIA and what makes a DPIA effective? When should employers be using a DPIA? The Data Protection Act 2018 (the Act) states that a DPIA must be implemented before any processing is undertaken which is “likely to result in a high risk” to individuals ...
Although like in most EU countries, there is no specific regulation in France on social media, judges have recently answered very clearly to this question: it depends on the privacy settings made by the employee!French judges make a clear distinction between (i) social media postings that remain private (i.e ...
When parents separate one question that is often asked is how long will I or my ex have to pay child maintenance for. Child maintenance Child maintenance is a regular, usually monthly payment, made by the parent with whom the children do not live (commonly known as the non-resident parent (NRP)) to the other parent (commonly known as parent with care (PWC)) ...
A child arrangements order is a court order which states where a child will live, how they will be cared for and how they will spend their time with one or both of their parents. A question which often goes unasked, however, is how long will the order last? The contact arrangements set out within a child arrangements order, i.e ...
Sometimes a claimant realises that it has made a mistake. Its case may be pleaded incorrectly, elements of its claim may be unsustainable or stronger claims could be available to it. With permission, amendments can be made but when do these changes become something more than a simple amendment? R G Carter In the recent case of R. G ...
'Close of business' is a term many people use in their day to day working life without much thought. But what does it actually mean and should the term be used in contractual documentation? Agreeing to get something done by 'close of business' is a phrase often used when flexibility is required as to the time a task will be completed. It makes it clear the task will be done that day, but not by a particular time ...
In a situation where a taxpayer could choose between two transactions, the law does not require the taxpayer to choose a transaction which would bring along the largest amount of payable taxes. Taxpayers have the right to organise their activities in a manner which would entail the smallest possible tax burden and the state cannot reproach them for it. The only issue can be about distinguishing the permitted solutions of tax optimisation from obtaining dishonest tax concessions ...
We look at the latest events concerning the dispute between the UK Covid-19 Inquiry and the Cabinet Office over the former Prime Minister’s WhatsApp messages and diaries ...
The Supreme Court makes clear that a party that has started to clean up contamination caused by another party is also deemed to be a business operator. This gives rise to joint and several liability for the original contamination. The fact that remedial work was intended to reduce the environmental impact is of no importance. Background A company which was later incorporated into JM Värmdöstrand (“JM”) operated a casting works from the 1940s to the 1980s on a site in Oxelösund ...
The Supreme Court handed down its judgment on the case of Rakusen v Jepsen on 1 March 2023, deciding that rent repayment orders cannot be made against superior landlords. The case considered whether rent repayment orders (RROs) under the Housing and Planning Act 2016, could be made against immediate landlords only, or whether superior landlords are also liable ...
Court of Appeal revisits the position of when time runs for claim in professional negligence. Careful thought is required when assessing limitation periods where there is a delay between the negligent act and the loss crystallising. The time when a cause of action accrues is critical when assessing whether that claim has been brought within the statutory limitation period ...
Employers often seek to rely on legitimate interests when processing employee personal data. But many do not realise that this should involve completion of a legitimate interests assessment. We consider what is involved in carrying out such assessments. What the law says The UK General Data Protection Regulations (UK GDPR) and the Data Protection Act 2018 regulate the way in which employers process personal data ...
The Renters (Reform) Bill was given its first reading in May 2023 after five years of consultation and refinement. The Bill seeks to provide greater flexibility and security for residential tenants in England by imposing additional restrictions and obligations on private landlords. The reforms also look to improve the leasehold system through increased regulation, digitisation and standardisation. A noticeable omission from the Bill, however, is an exemption for private lettings to students ...
The recent soap opera surrounding Kevin Pietersen and his off-on-off relationship with the England cricket team has dominated the sports media over recent months.There is no doubting that Pietersen is the most talented batsman available to England but, that said, for many well-rehearsed reasons (and various misdemeanours) he will not be selected ...
Taking agricultural land out of production to offset the impact of nitrate pollution from housing can generate income for its owner and benefit developers and local authorities. The problem Nitrogen and Phosphorus are essential nutrients for plants. Used as fertilisers they boost growth and increase crop yields. They are also a pollutant ...
