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PRACTICE NOTES
This archived tracker was focused on healthcare and was intended to be used to track key developments, legislation, guidance, parliamentary briefing notes and other sources of interest relating to coronavirus (COVID-19) and healthcare up to so called ‘freedom day’ 18 July 2021. It is designed to provide an easy reference point for relevant content for lawyers during the coronavirus. For a navigational list of all archived local government COVID-19 trackers, see Coronavirus (COVID-19)—local government tracker up to 18 July 2021 [Archived]. For current guidance, see Practice Note: Coronavirus (COVID-19)—local government tracker—post July 2021. Click on the links below to jump to the relevant section: • Primary legislation • Legislation—made statutory instruments • Government guidance • Other sources of information Primary legislation Legislation When in force Summary Coronavirus Act 2020 (CA 2020)• CA 2020, ss 1–14, 48–49, 58 • CA 2020, Schs 1–14 Pt 1, 18–19, 21 Pt 1–21 Pt 5, 22 Pt 1–22 Pt 5, 28 Pt 1–28 Pt 5 CA 2020 came into force on 25 March 2020. The following provisions
PRACTICE NOTES
This archived Practice Note tracked the changing developments in relation to the holding of valid and effective general meetings and annual general meetings during the coronavirus pandemic and the restrictions brought in to contain it. For ongoing (post-pandemic) information on the calling and holding of hybrid general meeting and AGMs see: • How to call and hold an effective hybrid general meeting • Holding entirely virtual or hybrid general meetings and AGMs For general information on the calling and holding of company meetings see: • Calling a general meeting (including an AGM) • Holding a general meeting of a private company or unlisted public company • Holding a general meeting of a listed public company • Holding an AGM of a private company or unlisted public company • Holding an AGM of a listed public company Pre-pandemic hybrid general meetings and AGMs In the years before the coronavirus pandemic, a number of FTSE 350 companies started broadcasting their AGMs by webcast in addition to holding a physical meeting, and 2016 saw the
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is no longer maintained. It considers issues relating to the right to holiday and holiday pay during the Coronavirus (COVID-19) pandemic. It: • summarises the position under WTR 1998 in relation to the right to annual leave (or holiday) and pay under the Working Time Regulations 1998 (WTR 1998), SI 1998/1833, as a reminder of the general context in which these issues need to be considered • describes the relevant guidance issued by the Department for Business, Energy & Industrial Strategy (BEIS), HMRC and Acas, and • considers, specifically in the context of holiday and holiday pay during the Coronavirus (COVID-19) pandemic: ◦ how holiday pay is calculated ◦ whether an employer can tell an employee when to take their holiday, including managing holiday requests and requests to cancel booked holiday, and whether an employer can cancel a worker’s booked holiday or require a worker to take holiday at specific times ◦ amendments to the WTR 1998, SI 1998/1833 relating to carrying forward holiday
PRACTICE NOTES
Background This archived Practice Note considered the impact that the coronavirus (COVID-19) pandemic on the preparation and filing of a company’s report and accounts. It has not been updated since May 2022. Disclosure of principal risks The Companies Act 2006 (CA 2006), the UK Corporate Governance Code (UKCG Code) and the Disclosure Guidance and Transparency Rules (DTRs) contain overlapping requirements for companies to disclose the principal risks facing their business in their annual and interim financial reports: • the CA 2006 requires all UK incorporated companies (except for small companies) to prepare a strategic report for each financial year of the company. This report must include, among other things, ‘a fair review of the company’s business, and a description of the principal risks and uncertainties facing the company’ • the UKCG Code requires the board of directors of a premium listed company to carry out a robust assessment of the company’s emerging and principal risks and to confirm in the annual report that it has completed this assessment, including a description of its principal
NEWS
Family analysis: Marilyn Bell, partner and head of the family team at SA Law, Jonathan Evans, barrister at 4PB, Katie Spooner, partner at Winckworth Sherwood and Chris Longbottom, partner and head of the Manchester family team at Clarke Willmott, consider how the coronavirus outbreak may effect arrangements for children whose parents are divorced or separated, both in cases where a court order is in place and those where the arrangements are more informal. How the court may deal with the breach of an existing order is also examined.
PRACTICE NOTES
ARCHIVED: This archived Practice Note considered the impact of the coronavirus (COVID-19) pandemic on private M&A (share purchase or asset purchase) transactions. It has not been updated since May 2022. Factors affecting deal activity The coronavirus (COVID-19) pandemic will have an effect for its duration on many aspects of corporate law for legal practitioners and their clients. The impact on private M&A transactions will probably go beyond the period of the pandemic itself as regards the impact on the economy and individual businesses. Specific consequences that directly result from the pandemic include: • financial viability of conducting an acquisition—given the economic upheaval and shock to the world economy, will buyers have the necessary available funds to carry out a private M&A transaction? A potential buyer may look to maintain or bolster its cash reserves rather than seek out acquisition opportunities as a means of prudent financial management to weather the challenges of the COVID-19 pandemic • heightened transaction risk—there is increased risk for a buyer in concluding a transaction during a time of extreme volatility,
NEWS
Corporate analysis: This analysis considers the initial impact of the coronavirus (COVID-19) crisis on a sample of FTSE 350 and AIM 50 companies issuing an AGM notice between 27 March and 15 April 2020.
NEWS
Energy Analysis: Judith Aldersey-Williams, partner at CMS, discusses what the combination of the coronavirus (Covid-19) pandemic and the recent crash in oil price means for the North Sea oil and gas industry.
PRACTICE NOTES
ARCHIVED: This Practice Note is archived and is no longer maintained. This Practice Note brings together key content on coronavirus (COVID-19) published across Lexis®PSL that is likely to be of interest to Banking & Finance lawyers. It is updated regularly with news, practical guidance and analysis which cover the impact of COVID-19 developments. The subject areas covered are: • Force Majeure • Execution of documents • LIBOR • General lending • Leveraged finance • Asset finance • Project finance • Real estate finance • Trade and commodity finance • Debt capital markets • Derivatives • Structured products and securitisation • Financial services • Restructuring • Corporate • Scotland, and • International In addition, the Practice Note: Coronavirus (COVID-19)—Banking & Finance frequently asked questions [Archived] considers questions that are frequently being asked by Banking & Finance practitioners in the current environment and brings together key content and resources published across Lexis®PSL. Force Majeure Date Content Summary 13 January 2021 Force majeure consequent on coronavirus (COVID-19) pandemic and notification injunctions (Fibula Air Travel v Just-US
PRACTICE NOTES
ARCHIVED: This Practice Note is archived and is no longer maintained. Lawyers across the world have been grappling with many common areas of concern in connection with the coronavirus (COVID-19) pandemic. There are a number of areas that are particularly relevant to banking and finance lawyers. For more detail and analysis on these, see Practice Note: Coronavirus (COVID-19) implications for Banking & Finance lawyers, which contains news, practical guidance and analysis covering the impact of COVID-19 developments and considers subjects such as force majeure, execution of documents, Brexit and LIBOR as well as setting out the implications for different types of banking and finance transactions. See also, Practice Note: Coronavirus (COVID-19)—implications for lending transactions which focuses on the governmental and regulatory responses to the pandemic from a lending perspective, implications for facility agreements, both from a borrower and lender perspective, and various practical implications in relation to deal execution. We have also put together a set of COVID-19 FAQs, which comprise a number of questions that might arise on a lending transaction
PRACTICE NOTES
In order to minimise the medium- and long-term economic impacts of the efforts taken to contain the coronavirus (COVID-19) pandemic, EU Member States have implemented a broad range of support measures. These measures include, in many instances, some forms of moratorium on payments of credit obligations, with the aim of supporting the short-term operational and liquidity challenges faced by borrowers. In the UK, lenders and the Financial Conduct Authority (FCA) have taken measures to support both consumers and businesses during the coronavirus pandemic. The FCA has published temporary guidance designed to enable firms to act quickly to deliver immediate and temporary support to their customers, at unprecedented scale, as the coronavirus and the government’s response to it evolves. This temporary support is designed to help consumers bridge the crisis and get back on their feet. This Practice Note covers the temporary guidance issued by the FCA setting out how it expects firms to support consumer credit, overdraft and mortgage customers who are facing temporary payment difficulties because of the exceptional
PRACTICE NOTES
ARCHIVED: This document is archived and is no longer maintained. This Practice Note discusses the implications of the coronavirus (COVID-19) outbreak for the debt capital markets (DCM) and includes practical tips for DCM lawyers. For regular updates of news and analysis on the outbreak relevant to DCM, see: Practice Note: Coronavirus (COVID-19)—implications for Banking & Finance lawyers—Debt capital markets. Coronavirus (COVID-19) Lawyers across the world have been grappling with many common areas of concern in connection with the coronavirus (COVID-19) pandemic. There are a number of areas that are particularly relevant to banking and finance lawyers. For more detail and analysis on these, see Practice Note: Coronavirus (COVID-19) implications for Banking & Finance lawyers, which is updated regularly with news, practical guidance and analysis covering the impact of COVID-19 developments and covers subject areas such as force majeure in lending transactions and execution of documents as well as setting out the implications for different types of banking and finance lawyers. This Practice Note focuses on the implications for DCM and practical steps