Blockchain has erupted into mainstream consciousness, driven in part by the meteoric rise of cryptocurrencies and the booming global fintech sector, with multiple consultations and discussions by regulators underway or completed around the world. Although blockchain and its related technologies are still relatively new, significant investment has been aimed at releasing the efficiencies and capturing the new business models which it is anticipated to offer. Much of the focus to date has been on the technical and commercial aspects. But for blockchain to realise its full potential it will need to navigate the new and existing legal and regulatory environments in which it will operate. The range of potential use cases and the stage of development at which this new technology finds itself, means that this Practice Note is, by necessity, a roadmap to understanding the key legal and regulatory issues which typically arise in relation to blockchain technology rather than a set of definitive answers. The detail of the legislation and regulation applicable

It is important to consider the underlying finance documents to determine the requisite majorities of creditors which can block certain actions necessary to maintain an effective standstill, and to complete a successful restructuring (see Practice Notes: Key elements of a standstill agreement). Initial steps Increasingly companies have many different types of creditor, each with conflicting motives. It is important to review the finance documents and any intercreditor agreements (see Practice Note: Intercreditor agreements for R&I lawyers) to determine for each tranche of debt: • what majorities are required from each creditor constituency to waive any covenant breaches/events of default (common terms in a standstill agreement) or amend the finance documents • the process for enforcement actions plus the role of any security trustee/collateral agent/facility agent • whether there are any buy-out rights A valuation (see Practice Note: Where the value breaks and negotiating strength) will identify creditors likely to exercise blocking rights; those close to where the value breaks will maximise any blocking rights they have to secure a better deal. Majorities in syndicated loans For

The technical ability to block websites is within the power of internet service providers (ISPs) who provide the service of connecting users to internet content. The power for the court to order ISPs to take certain action in relation to copyright infringement originated from Article 8(3) of Directive 2001/29/EC (the EU InfoSoc Directive), which was implemented by section 97A of the Copyright, Designs and Patents Act 1988.

The Public Law for Everyone blog, written by Mark Elliott, Professor of Public Law at the University of Cambridge, has published a blog analysing the government’s white paper, ‘Restoring Order and Control: A statement on the government’s asylum and returns policy’. Elliott outlines the principal legal and constitutional questions arising from the proposals, which seek to reform the UK’s asylum system and its interaction with the European Convention on Human Rights (ECHR).

The LexisNexis Arbitration Blog has published its seventh annual survey of international arbitration statistics, written by James Clanchy, arbitrator in independent practice and member of the Lexis®PSL Arbitration Consulting Editorial Board. Clancy notes that in 2023 caseloads rose to their second highest and appointments of arbitrators to their highest levels in the eight years covered by the study. He welcomes the return of the International Chamber of Commerce’s (ICC) detailed statistical reports and he draws attention to the fact that the maritime and commodities sectors scarcely feature in the ICC’s caseload. He further acknowledges the growing demand for the ICC’s expedited procedure.

IP & IT analysis: A recent case in Ireland allowed two bloggers to rely on journalistic privilege to resist orders to testify in the US. What does the extension of protection beyond the bounds of traditional journalism mean for non-career journalists? Brendan Dillon, principal of Dillons Solicitors of Dublin, discusses the ramifications of the case.

Blood-alcohol content (BAC) describes the concentration of alcohol in a person’s bloodstream, usually expressed as milligrammes of alcohol per 100 millilitres of blood, or as a percentage. It is a central evidential concept in drink-driving offences and related road traffic prosecutions across England and Wales, Scotland, Northern Ireland and Ireland. BAC is not usually a defined term in its own right, but statutory limits and evidential rules are set out in legislation, including the Road Traffic Act 1988 (England and Wales, Scotland), the Road Traffic (Northern Ireland) Order 1995, and the Road Traffic Act 2010 (Ireland). The legally prescribed limit for drivers differs by jurisdiction (and, in some cases, by driver category), so practitioners must check the specific statutory provisions. BAC is typically established through evidential breath, blood or urine tests, subject to procedural safeguards and potential challenges (for example, reliability of equipment, chain of custody, medical issues). BAC levels are also relevant in criminal and civil litigation when assessing impairment, contributory negligence, or capacity, and may inform sentencing, insurance coverage disputes and employer disciplinary processes. Usage of the expression “BAC” is broadly consistent across the UK and Ireland.

Property Disputes analysis: When will mistakes on the face of a service charge demand invalidate that demand? A landlord had demanded greater sums from his tenant than he was actually entitled to under the lease, having wrongly calculated that the tenant’s proportion of the expenditure was a 1/24 rather than a 1/31, share. The tenant argued that the service charge demands were invalidated by this mistake, such that the jurisdiction of the First-tier Tribunal (FTT) did not arise under section 27A of the Landlord and Tenant Act 1985 (LTA 1985). The court held that the demands were formally valid. If a demand sought more than a landlord was entitled to under a lease, or was mistaken in claiming expenses that were irrecoverable, the demands were not invalidated. These were errors falling squarely within the FTT’s jurisdiction to determine what was actually payable pursuant to LTA 1985, s 27A. Written by Diane Doliveux, barrister, at Tanfield Chambers.

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The ‘Blue Economy’ is made up of economic activities which rely or have an impact on coastal and marine resources. According to the International Finance Corporation (IFC), the blue (or ocean) economy is expected to double in size to US$3tn by 2039, employing 40 million people worldwide compared to 2010. The financial sector will be key to this growth and, although still relatively new, it appears that blue bonds in particular will have an important role to play in achieving a sustainable blue economy. This Practice Note considers: • what are blue bonds? • blue bond issuances in the market • steps to issuing a blue bond, and • what are the prospects for blue bonds? The potential and growth in significance of blue bonds can be seen through the publication of Bonds to Finance the Sustainable Blue Economy (the Guidance), the result of a collaboration between the Asian Development Bank (ADB), International Capital Market Association (ICMA), IFC, United Nations Environment Programme—Finance Initiative (UNEP FI) and United Nations Global Compact (UNGC). The Guidance aims

The European Union's blue economy encompasses all industries and sectors related to oceans, seas and coasts, whether they are based directly in the marine environment (eg shipping, seafood, energy generation) or on land (eg ports, shipyards, coastal infrastructures). To fully embed the blue economy into the Green Deal and the recovery strategy, the European Commission has adopted a new approach for a sustainable blue economy in the EU.

A leading company that is well-established and is regarded as at a low-risk of failure (derived from the colour of high value poker chips).