Law360: The Serious Fraud Office (SFO) has set itself a July 2024 deadline for deciding whether to charge individuals in its Glencore bribery investigation, which will grab headlines in 2024, but high-stakes cases involving two bankers given a lifeline to challenge their rate-rigging convictions and an anticipated verdict in a Saudi bribery scandal will also take centre stage.

Law360: Lloyd's of London is among the worst insurance players in the world in terms of providing cover to fossil fuel polluters, climate activists said Thursday.

A treaty between two states that seeks to encourage reciprocal investment by investors of those two states, including providing for rights and protections for foreign investors and investments, and how any disputes that may arise are to be resolved (often referred to as investor-state dispute settlement or ISDS).

A bilateral contract is an agreement where each party undertakes a binding obligation to the other, so that there is an exchange of mutual promises (for example, to supply goods and to pay the price). In legal practice in England and Wales, Scotland, Northern Ireland and Ireland, most commercial contracts are bilateral: both sides assume enforceable duties, as opposed to a unilateral contract where only one party is bound unless a specified act is performed.“Bilateral contract” is a descriptive term rather than a defined statutory category. Its core features, recognised in common law and case law across these jurisdictions, are: mutuality of obligation; agreement on essential terms; and consideration (or, in Scots law, cause) moving both ways. Typical examples include sale of goods contracts, services agreements, leases, employment contracts and most share purchase agreements.The term is used consistently in all four jurisdictions, although underlying doctrines (such as consideration in common law and the Scots law concept of promise) differ. Its practical significance lies in analysing formation, enforceability, remedies for breach, and issues such as repudiation, termination and specific performance where both parties owe continuing obligations.

A facility agreement entered into between one bank and one borrower; a bilateral facility agreement can be contrasted with a syndicated facility agreement where there will be more than one lender.

A loan agreement under which a single lender makes loan facilities available. Contrast with a syndicated facility.

One of the key features used to categorise loans is the number of lenders involved. A loan involving one lender is known as a 'bilateral loan'. A loan involving more than one lender may be a 'syndicated loan' or be referred to as a 'club loan'. Multiple lenders can also be indirectly involved in the same loan by way of sub-participation. This Practice Note explains the key features of bilateral loans, syndicated loans and club loans. Bilateral loans A bilateral loan is a loan involving a single lender. There may be a single borrower or multiple obligors involved, ie the borrower and other companies in the borrower's group as guarantors and/or security providers. Bilateral loans are normally used for loans of relatively small amounts and where less complex financing arrangements are required (eg a simple overdraft or term loan). Where the borrower requires a larger loan, a single lender may be unwilling or unable to advance the full amount required by the borrower. In these cases, a syndicated or club loan may be a better option. Syndicated

In contrast to calling party’s network pays (CPNP), this term denotes an interconnection arrangement in which the carriers exchange traffic on a negotiated basis, generally without paying interconnection charges. Each carrier bills its own customers for the traffic and keeps the resulting revenue. Also known as 'sender keeps all' interconnection.

Lord Clement-Jones has introduced to the House of Lords a Bill aimed at regulating the use of algorithms and automated decision-making within public sector bodies. Effective six months after enactment, the Bill would require public authorities in England and Wales to complete algorithmic impact assessments and transparency records before deploying these systems, ensuring fair, transparent, and accountable use. The Bill, however, excludes national security and basic calculation systems from its scope. The second reading has yet to be scheduled.

The Litigation Funding Agreements (Enforceability) Bill has been introduced into the House of Lords on 19 March 2024 for the first reading. The Bill aims to amend section 58AA of the Courts and Legal Services Act 1990 to make provision about the enforceability of litigation funding agreements. If implemented, the Bill will reverse the Supreme Court’s ruling in R (on the application of PACCAR Inc) v Competition Appeal Tribunal [2023] UKSC 28, which rendered litigation funding agreements unenforceable by making them damages-based agreements. The amendment will have retrospective effect. The second reading of the Bill is on 15 April 2024.

The government has introduced the Representation of the People Bill, which contains a range of provisions to update UK electoral law and modernise the UK electoral system. Key updates include measures to: lower the voting age to 16, improve voter registration processes, address inconsistencies in voter ID requirements, expand and strengthen existing rules on political donations and campaign finance, tackle harassment and intimidation of electoral candidates and extend the role and powers of the Electoral Commission (EC).

ARCHIVED: This Practice Note provided information on the Bill of Costs pilot scheme which came to an end on 30 September 2017. This Practice Note is therefore for historical purposes only. For current information on detailed assessment, see: Detailed assessment—overview. This Practice Note covers a pilot scheme set out in old Practice Direction 51L which ran from 1 October 2015 to 30 September 2017. The pilot scheme applied to detailed assessment proceedings in the Senior Courts Costs Office (SCCO) and was voluntary. Why is the bill of costs changing? The system for producing a Bill of Costs did not engage with the technological advances available and could easily be produced from the time recording made by solicitors throughout the time working on a litigation matter. In addition, since the introduction of the costs budgeting regime other issues have arisen, such as the fact that there is no requirement to set out how the Bill of Costs complies with the last approved budget. Jackson's final costs report, prior to the introduction of costs