The rate of Erlangs per circuit on a given route.

It is not uncommon for a company that has granted a charge over its assets to file a statement at Companies House that the charge has been satisfied when this is not, in fact, the case. The filing may be made by the company in error, eg in the mistaken belief that the charge has been satisfied, or it may be done fraudulently in order to help the company access further finance. There have also been instances where filings were made at Companies House stating that security had been discharged without the awareness of the relevant company or security holder. For further information, see News Analyses: Additional caution required for insolvency practitioners relying on Companies House filings and Update for insolvency practitioners on Companies House filings. The key questions that arise are: • does the erroneous filing of a satisfaction of charge form affect the validity of that charge? • are there any risks to the priority of the charge that is purported to have been ‘released’? • what are the risks to any

Insurance for professionals for negligent acts, errors and omissions which result in a loss to a client, arising out of the ordinary course of the professional business.

The increments applied to an annuity in payment.

Property Disputes analysis: This case illustrates the problems still presented to leaseholders by ‘escalator ground rent’. The claimant, Arrassey, claimed damages for negligence against its former conveyancing solicitors, Nelsons. In 2006–07, Arrassey purchased new-build leasehold flats subject to ground rents which increased exponentially over the lease terms. It subsequently discovered that similar ground rents were making leasehold property difficult or impossible to sell or re-mortgage; it sued Nelsons, alleging that it had been negligently advised when purchasing the flats. The court dismissed the claim, concluding that these specific ground rent provisions were not onerous, and even if they had been, a reasonably prudent solicitor in 2006–07 was not under a duty to give more advice than Nelsons had done. It also considered that the correct measure of loss would have been diminution in value of the flats at purchase as a result of the provisions (had they been onerous), not Arrassey’s subsequent costs of extrication. Written by Richard Fowler, barrister, at Maitland Chambers.

An escape clause is a contractual provision that allows one or more parties to withdraw from, vary, or suspend performance of an agreement when specified circumstances arise, without being in breach. It is a descriptive term rather than a defined statutory concept in England and Wales, Scotland, Northern Ireland or Ireland, and is commonly used in commercial contracts, property transactions and financing documents.Typical examples include conditions precedent (such as obtaining planning permission or funding), material adverse change clauses, force majeure provisions, break clauses in leases, and termination for convenience clauses. The clause will usually specify the triggering event, the mechanism and timing for exercising the right, and any financial or procedural consequences (for example, notice requirements or break fees).Courts across the UK and Ireland interpret escape clauses using normal principles of contractual construction, with particular attention to clarity, certainty and commercial purpose. Ambiguous or overly wide escape clauses risk being limited in effect, or scrutinised under doctrines relating to good faith, reasonableness, penalty rules or unfair terms, depending on the parties and context. Usage and interpretation are broadly consistent across the four jurisdictions.

The return of land to the Crown by determination of the estate.

Introduction This Practice Note discusses escheat, bona vacantia (ownerless goods) and the ability for the Crown, or a Royal Duchy, to disclaim bona vacantia upon dissolution of a company where the affected property is a freehold estate in land. It also considers the effect of disclaimer of onerous freehold land by a liquidator, trustee in bankruptcy or the Official Receiver. Escheat Paramount lordship of the Crown The principle which underlies the doctrine of escheat is a remnant of the feudal system of land tenure. Under that system, all land in England, Wales and Northern Ireland is ultimately vested in the Crown: this is the principle of ‘paramount lordship’. However, others may hold a legal estate in land: the (relatively) modern embodiment of this can be found in section 1 of the Law of Property Act 1925 (LPA 1925), which provides for the existence of the freehold (and leasehold) estate. The holder of one of these estates enjoys all the attendant benefits of ‘ownership’ as that term is understood today. A leasehold estate is self-evidently

Property Disputes analysis: The Court of Appeal dismissed an appeal from the order of His Honour Judge Hodge QC, by which the first instance judge had awarded possession of a plot of land to the claimant/respondent; and had dismissed the appellant’s counterclaim for a declaration that it was entitled to be registered as proprietor of the said land. Among other things, this case discusses when a person will be in actual occupation of land even though they do not themselves occupy the same. In particular, the case considers when it will be sufficient for a party to establish actual occupation via the occupancy of a caretaker or agent. In addition, the case provides helpful guidance as to the fate of land which is owned by a company incorporated otherwise than in accordance with the laws of England and Wales; in circumstances where that company is dissolved while at the same time owning land in England and Wales. Written by Christopher Snell, barrister at New Square Chambers.

Law360: A European court refused 17 April 2024 to let cocaine kingpin Pablo Escobar's family trade mark his name because of its 'highly offensive and shocking' associations with drug trafficking and narcoterrorism.

Software escrow Escrow is the process of two or more parties placing property or instruments in the hands of a trusted third party (an ‘escrow agent’). The escrow materials are released to one of the parties following an agreed release or trigger event, such as satisfaction of that party’s obligations or failure of another party’s obligations. Software escrow is a common method of protecting software licensors and licensees. Licensors are reluctant to hand over source code and commercially-sensitive materials about the design of their software. However, the licensee may be uncomfortable with the risk of being unable to maintain or support the software in circumstances such as the licensor becoming insolvent or defaulting on their obligations.

Software escrow Escrow is the process of two or more parties placing property or instruments in the hands of a trusted third party (an ‘escrow agent’). The escrow materials are released to one of the parties following an agreed release or trigger event, such as satisfaction of that party’s obligations or failure of another party’s obligations. Software escrow is a common method of protecting software licensors and licensees. Licensors are reluctant to hand over source code and commercially-sensitive materials about the design of their software. However, the licensee may be uncomfortable with the risk of being unable to maintain or support the software in circumstances such as the licensor becoming insolvent or defaulting on their obligations. Placing those materials with an independent