The following Pensions practice note provides comprehensive and up to date legal information covering:
ARCHIVED: This Practice Note, which covers significant pensions judgments handed down in 2017, has been archived and is not maintained.
The entries in this tracker are organised by topic. These topics are listed in the Table of Contents (to the left of the page).
Full name: University of Sunderland v Ms K Drossou
Court: Employment Appeal Tribunal
Judgment date: 13 June 2017
James Boyd (instructed by Watson Burton LLP) for the Appellant (University of Sunderland)
No appearance or representation by or on behalf of Respondent (Ms K Drossou)
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
Community order requirementsCommunity order requirements are set out in the Criminal Justice Act 2003 (CJA 2003), as amended by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO 2012) and the Offender Rehabilitation Act 2014 (ORA 2014). Criminal Justice Act 2003, s 152(2)
You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
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