Capital that equity'>private equity firms generally provide to established, medium-sized companies that are breaking even or trading profitably. The company uses the capital to finance strategic moves, such as expansion, growth, acquisitions and management buyouts.

Practice Management analysis: What should firms bear in mind when undertaking lateral hires? Peter Scott, principal of Peter Scott Consulting, and John Grimwade, founder and managing director of JDP, examine what firms should bear in mind when undertaking lateral hires.

Insurance & Reinsurance analysis: The latest coronavirus (COVID-19) BI judgment to be handed down in the English courts deals with aggregation of losses under the Aon Trio policy wording. The claim was pursued by Pizza Express, whose 475 restaurants were all subject to coronavirus lockdown restrictions in 2020. The question before the court was not one of coverage but whether, if coverage could be established, the relevant £250,000 sublimit in the Policy applied in the aggregate to all Pizza Express’s losses arising from one source or original cause. On the insurers’ case, this limited the value of Pizza Express’s claim to £250,000, while on Pizza Express’s case the insurer would be liable to indemnify Pizza Express in full to the tune of £178m. The court determined that insurers were right to argue that the aggregating provision contained within the definition of ‘Occurrence’ applied to the clauses in question, meaning that Pizza Express’s covered losses under the Policy would be aggregated by reference to a single source or original cause. Written by Aaron Le Marquer, head of policyholder disputes at Stewarts.

Commercial analysis: This case was the latest in a series of disputes between two connected actuarial firms, arising from a 99-year services agreement between them. The case primarily turned on a point of contractual interpretation—the issue being whether the obligations undertaken by the defendant included periodical tenders and re-tenders for new and existing clients. The judge at first instance upheld the defendant’s case on this point, but the Court of Appeal gave the claimant permission to appeal. Written by Andrew Butler KC, representative for the defendant, at Tanfield Chambers.

MLex: Sticking points have emerged in negotiations to replace EU steel safeguards set to expire on 30 June 2026, in the form of disagreements about rolling over unused import quotas from quarter to quarter and about extending the list of covered products. The next round of talks will be held on 17 March 2026, with EU governments cautiously optimistic about reaching a compromise with European Parliament lawmakers.

The Financial Conduct Authority (FCA) has published the eighth edition of its Regulatory Initiatives Grid (April 2025) setting out the planned regulatory initiatives for the next 24 months so that the financial services industry and other stakeholders can understand and plan for the timing of the initiatives that may have a significant operational impact on them.

The Cabinet Office has issued a reminder that its consultation on further public procurement reforms closes at 5pm on 5 September 2025. The consultation opened on 26 June 2025 and outlines plans for further reforms to the public procurement regime, building on the reforms introduced by the Procurement Act 2023 (PA 2023). The Cabinet Office says that the consultation aims to inform the development of future primary legislation amending PA 2023 ‘when parliamentary time allows’.

Restructuring & Insolvency analysis: The latest edition of Corporate Rescue and Insolvency (April 2024) is now available in Lexis+® UK (subscription required). This edition features, among others, articles looking at exploring current insolvency issues facing the construction sector, updates to water insolvency legislation amid growing concerns about the sector and the hospitality sector battles challenges as pubs and bars face increasing struggles.

Restructuring & Insolvency analysis: The latest edition of Corporate Rescue and Insolvency (April 2026) is now available in Lexis+® UK (subscription required). This edition features, among other things, articles that explore the questions every IP should ask before taking an appointment with environmental risk, case law developments on the Investment Bank Special Administration regime, the limits of the Duomatic principle in insolvency matters, and discussions on recent developments in Part 26A restructuring plans.

Restructuring & Insolvency analysis: The latest edition of Corporate Rescue and Insolvency (August 2023) is now available in Lexis®Library (subscription required). This edition features, among others, articles looking at restructuring plans as an ever-evolving tool in the restructuring market, the rise of corporate insolvencies pre-pandemic and claims under section 423 of the Insolvency Act 1986.

Restructuring & Insolvency analysis: The latest edition of Corporate Rescue and Insolvency (August 2025) is now available in Lexis+® UK (subscription required). This edition features, among others, articles exploring the revised SIP 14, a comparative analysis of directors’ disqualification in the BVI and UK, and how stakeholders to hybrid financial transactions should apply the Etridge principles.

Restructuring & Insolvency analysis: The latest edition of Corporate Rescue and Insolvency (August 2026) is now available in Lexis+® UK (subscription required). This edition features, among other things, articles that explore the reinstatement of Crown preference, enduring corporate stress, limitation periods for unfair prejudice petitions, co-operation agreements in restructurings, cross-border insolvency and arbitration in Asia-Pacific, the Corporate Civil Enforcement Reforms, and the proposed EU Inc. insolvency framework.