The Pensions Regulator1 may make a restraining order in relation to an account with a deposit-taker2 if: (1) it is satisfied that the account contains money which has been liberated from a pension scheme3; (2) it is satisfied that the account is held by or on behalf of: (a) the liberator; or (b) a person who has to, or in practice is likely to, ensure that the account is operated in accordance with the liberator's directions; and (3) the order is made pending consideration being given to the making of one or more repatriation orders4 in relation to the
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
Overlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover, whether deliberately or otherwise.Examples include the situation where the insured takes the benefit of other insurance arranged by another party or where, in the commercial world, risk
What is a res judicata?A res judicata is a decision given by a judge or tribunal with jurisdiction over the cause of action and the parties, which disposes, with finality, of a matter decided so that it cannot be re-litigated by those bound by the judgment, except on appeal.Final judgments by
BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For further guidance on
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