A company responsible for issuing credit ratings. These include Moody's, Standard & Poor's and Fitch

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Restructuring & Insolvency analysis: On the 28 July 2025, the court approved a distribution plan in the special administration of Rational Foreign Exchange Ltd (RFX), enabling the joint special administrators (Kristina Kicks and Edward Boyle of Interpath) (Special Administrators) to return safeguarded funds to customers. The Special Administrators also sought declaratory relief regarding the status of European domiciled customers, following the repeal of passporting rights under the Payment Services Regulations 2017 (PSR 2017) post-Brexit. RFX employed various methods to continue servicing European clients, some lacking proper regulatory basis. This required the Special Administrators to determine whether such clients were customers of RFX or separate European entities. This was a key issue given the shortfall in safeguarded funds available for distribution. The court granted the relief sought by the Special Administrators and set out guidance to assist in clarifying customer status. This case marks only the second reported judgment approving a distribution plan in respect of a payment services firm under rule 114 of the Payment and Electronic Money Institution Insolvency Regulations 2021 (2021 Regulations), and the first involving European domiciled business and a significant shortfall in safeguarded funds. In absence of specific guidance under the 2021 Regulations and the Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021 (2021 Rules), the court applied among other things the three-stage test from Re SVS Securities Plc assessing; (i) fairness and reasonableness of the proposed distribution; (ii) progress of the special administration; and (iii) adequacy of stakeholder engagement. Written by Brian Rostron, associate and Kelvin Riley, associate at Addleshaw Goddard LLP.

ARCHIVED: This Practice Note has been archived is not maintained. Overview Rationalisation of the ownership, occupation, management and use of property holdings to provide a more efficient and cost effective solution has assumed growing importance in the public sector. The government's revised Estate Strategy, published in October 2014, highlighted many of the initiatives taken at central government level. A number of local authorities have rationalised their office and estate footprint, moving to new offices enabling them to work more effectively and efficiently. Surplus land is actively being released to deliver capital or revenue as well as promote jobs and investment. Public bodies will also be mindful of their obligations under ESOS (Energy Savings Opportunity Scheme) as well as the ISO 55000 standard in respect of asset management. These drive public bodies to a more disciplined approach to understanding the whole life operating costs and risks associated with their estate—including energy costs and the opportunity for schemes to deliver cost and energy savings. Asset management and estate rationalisation requires a number of legal as

It would appear that the liability for such an issue may fall to the landlord/concurrent tenant or tenant depending on various factors including how the rats have accessed the property, eg was it through disrepair which may make it the landlord’s/concurrent tenant’s responsibility or neglect of the property which may make it the tenant’s responsibility, and where the nest is currently located. Local authority intervention—prevention of damage by Pests Act 1949 Depending on the severity of the infestation, it may be appropriate for the local authority to become involved. Section 3(1) of the Prevention of Damage by Pests Act 1949 (PDPA 1949) requires: 'Subject

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Directory information that each electronic communications company collects on its customers. It is distinct from directory information aggregated from several electronic communications companies which is supplied from core databases.

A preliminary order of the court authorising Charity Trustees to take or defend legal proceedings using their Charity’s funds for the purpose.

Restructuring & Insolvency analysis: Re Madagascar Oil Limited [2025] EWHC 2129 (Ch) is the first Part 26A Plan involving a finance creditor restructuring to be sanctioned after the Court of Appeal’s landmark decision in Petrofac [2025] EWCA Civ 821. It involved a unique restructuring of a Mauritian company with a Malagasy subsidiary, and just two pari passu financial creditors—one supporting the plan, and one opposing. The Plan’s success shows that Part 26A remains a powerful and flexible jurisdiction available to both English and international businesses. Written by Rabin Kok, barrister at South Square. Rabin was counsel for the successful Plan Company, led by Mark Phillips KC and Matthew Abraham, and instructed by Shoosmiths.

Arbitration analysis: The debtor company appealed a winding-up order made by the Hong Kong Court of First Instance (HKCFI) and the principles set out in Guy Lam in the Hong Kong Court of Final Appeal whereby parties should be held to their agreed dispute resolution mechanism (ie arbitration) unless the dispute is frivolous or an abuse of process should have been applied.

This Q&A concerns a proposed sale of property of husband (H) and wife (W), which was held as tenants in common. Both H & W lacked capacity, and two attorneys, A and B, were appointed in respect of their affairs jointly and severally. It has been assumed A & B were effectively