The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
A tradeable security which gives the holder the right, but not the obligation, to buy or sell a specified asset at a specified price on a specified date or dates. A warrant is a kind of derivative—it derives its value from the underlying asset and is a way of obtaining exposures to the value fo the underlying asset without owning it. Warrants are sometimes described as ‘securitised derivatives’—ie derivatives in the form of securit
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What are OFTOs?Offshore Transmission Owners (OFTOs) are the owners of offshore transmission assets which connect offshore wind farms to the onshore electricity network. The transmission assets comprise everything between the offshore point of connection with the generating wind farm assets and the
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
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
A declaratory judgment is a judgment identifying the rights, duties or obligations of one or more parties in a dispute. It is legally binding, but does not order any action by a party. A court may issue it alone or in conjunction with some other relief such as an injunction and can be granted on an
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