Law360, London: A London court rejected an attempt on 17 February 2022 by a creditor of embattled restaurant chain Corbin & King to allow it to appoint its own administrators to oversee the company's restructuring, saying the restaurateurs should be given time to refinance their business.

Safety system incorporated into EPR designs to contain, spread and cool the reactor core in the event of a core meltdown.

Overheating of the core of a nuclear reactor resulting in the core melting.

The backbone of a communications network, which carries different services such as voice or data.

A portfolio generally representing the bulk of a fund's assets.

This framework sets out core skills that apply to each role within the firm. Having a central framework of core skills helps to achieve transparency and consistency in our expectations of performance for different roles within the firm. Your performance against relevant core skills will be assessed as part of our [annual] appraisal process. If you are not certain which core skills apply to you, please speak to your line manager. Secretarial and administrative staff [ Ethics and professionalism Recognises ethical issues and exercises effective judgement in addressing them; understands and applies the ethical concepts which govern their role; understands and follows relevant rules of professional conduct; acts ethically; respects diversity and inclusion] Knowledge of the legal services and practice within the firm Has knowledge of the range of services provided by the firm Aligned to the business Understands the firm’s goals and strategic plans Integrity Is widely trusted; seen as a direct, truthful individual; responds well to feedback and admits to mistakes Change Identifies opportunities; engages others; can communicate views in a constructive, helpful manner Accountability Can be relied upon

The Council of the EU, following approval by Member States’ representatives (Coreper), has agreed its position on a legislative package to modernise the EU payment services framework, focusing on reducing fraud, enhancing consumer protection, fostering innovation, and increasing fee transparency. The proposals include a new Payment Services Regulation, amendments to the existing Payment Services Directive (PSD2), and a comprehensive anti-fraud framework involving IBAN checks, fraud-related information sharing, and the inclusion of electronic communication providers in fraud prevention. Transparency measures require upfront disclosure of ATM fees, exchange rates, and payment card scheme fees. Technological developments are addressed by enabling innovative payment service providers to access necessary bank account information, subject to safeguards. The agreement on the Council’s negotiating mandate allows the presidency to begin negotiations with the European Parliament on a final text.

The Council of the EU, represented by Coreper, has endorsed a mandate to revise the Foreign Direct Investment (FDI) screening regulation. The revised regulation will require all Member States to implement harmonised screening mechanisms, establish a minimum sectoral scope, and extend coverage to include EU-based entities ultimately controlled by non-EU investors. Any restrictions imposed must be justified by serious public policy or security concerns. The Council has also supported anti-circumvention measures targeting intra-EU investments by foreign-controlled subsidiaries and has narrowed the regulation’s scope to focus on sensitive areas such as military and dual-use goods. The Council, the European Parliament, and the European Commission are set to begin interinstitutional negotiations to finalise the legislation.

Term used when referring to the molten core of a nuclear reactor.

Law360: Less than a year after acquiring compliance software provider Clausematch, Irish regulatory risk business Corlytics Ltd announced 7 May 2024 that it has also acquired a digital RegTech platform from Deloitte UK.

The phrase is typically used to describe an investor who agrees in advance to subscribe in a forthcoming IPO. The cornerstone investor is usually brought into the IPO process before the formal bookbuilding process starts. The Network International Plc IPO in 2019 had a 9.99% cornerstone investor.

Commercial analysis: This case concerned the sale of two types of Chinese-manufactured facemasks by a Belgian defendant to a UK-based claimant. The claimant claimed to be entitled to reject the masks on a number of different grounds. This judgment concerns its application for summary judgment, which was partially successful. The judgment is significant because it addresses the question of who should be responsible for ensuring compliance with EU and UK regulatory standards, and highlights the danger of failing to address the issue clearly in a written agreement at the outset. Written by Steven Fennell, barrister at Exchange Chambers.