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PRACTICE NOTES
What is a rescue buyout? A company or a business in a rescue situation is one that is in potential financial difficulties, either because it finds itself: • unable to pay its debts in the short term, or • having insufficient capital or alternative finance to fund medium- to long-term development In a private equity context, following the credit crunch of 2007 through 2008 many private equity funds looked to acquire distressed businesses, with a view to turning them around and adding them to their list of portfolio companies. This type of distressed investment is counter-cyclical and may be a useful way to diversify risk within a portfolio. Conversely, existing private equity investors in distressed businesses became potential targets if their portfolio company entered the 'zone of insolvency'. The following types of company are usually suitable for a turnaround by private equity firms, namely those which: • require operational and financial restructuring • have structural problems • have a good underlying business (ie a good product/service with a ready market and demand for sales), or • have poor management
PRACTICE NOTES
Where the deceased died domiciled in a country to which the Colonial Probates Act 1892 (CPA 1892) and the Colonial Probates (Protected States and Mandated Territories) Act 1927 (CPA 1927) (together the CPAs) apply and a grant has been issued in that country, an application may be made for that grant to be resealed to administer the estate in England and Wales. This is often more convenient than obtaining evidence to validate a foreign Will and/or beneficial entitlement to the deceased's estate to lead an order under rule 30(1)(b) of the Non-Contentious Probate Rules 1987 (NCPR 1987). The application to reseal the foreign grant may be made to any district probate registry using application form PA1P. Once resealed, the grant has the same power and effect to administer the estate in England and Wales as if it had been made by a court in this jurisdiction. The district judge or registrar may: • accept a grant for resealing, or • refuse the application and direct that an application be made for an original grant in England
GLOSSARY
Copyright is not infringed in a literary, dramatic, musical and artistic work where it amounts to fair dealing for the purposes of non-commercial research.
GLOSSARY
A nuclear reactor that is used solely for research purposes.
PRECEDENTS
This Agreement is made on [insert date] (the Commencement Date) between the following parties (each a ‘party’ and together the ‘parties’): Parties 1 [insert researcher name] a company incorporated in [England and Wales] whose registered number is [insert company number] and whose registered office is at [insert registered office] (the Researcher); and 2 [insert customer name] a company incorporated in [England and Wales] whose registered number is [insert company number] and whose registered office is at [insert registered office] (the Customer). Background (A) Researcher is a company with the capability to conduct research in the field of [insert details]. (B) Customer wishes to engage Researcher to carry out the Research (as defined below) and Researcher wishes to conduct the same on the terms of this Agreement. (C) [Insert details]. The parties agree: 1 Definitions and interpretation 1.1 In this Agreement: Affiliate • means any entity that directly or indirectly Controls, is Controlled by or is under common Control with, another entity; Authorised Contact • means each authorised representative appointed by the Customer and the Researcher as their respective account managers, whose details are set out in clause 7, or as otherwise notified to the other party in writing; Authorised
PRECEDENTS
This Agreement is made on [insert date] (the ‘Commencement Date’) between the following parties (each a ‘party’ and together the ‘parties’): Parties 1 [insert researcher name] a company incorporated in [England and Wales] whose registered number is [insert company number] and whose registered office is at [insert registered office] (the Researcher); and 2 [insert customer name] a company incorporated in [England and Wales] whose registered number is [insert company number] and whose registered office is at [insert registered office] (the Customer). Background (A) Researcher is a company with the capability to conduct research in the field of [insert details]. (B) Customer wishes to engage Researcher to carry out the Research (as defined below) and Researcher wishes to conduct the same on the terms of this Agreement. (C) [insert details] The parties agree: 1 Definitions and interpretation 1.1 Words shall have the meanings given to them in this Agreement, including without limitation as set out below. Bribery Laws • means the Bribery Act 2010 [and associated guidance published by the Secretary of State for Justice under the Bribery Act 2010] [and all other applicable UK legislation, statutory instruments and regulations in relation to
NEWS
The House of Commons Library has published a research briefing which considers various questions around the policy changes announced in the May 2025 Immigration White Paper, Restoring control over the immigration system. Some proposals have already taken effect, but many remain subject to consultation.
NEWS
Law360: Only 40% of households with defined contribution (DC) schemes will have enough saved for a moderate standard of retirement living by 2040, an insurer has said, arguing that higher pension contributions could prevent a 'bigger cost-of-living crisis' in the future.
NEWS
Law360: Millions of savers could be missing out on valuable retirement funds, Standard Life announced on 29 October 2025, as new research revealed widespread confusion and neglect around workplace pensions.
PRACTICE NOTES
This Practice Note sets out the key considerations in research services contracts from the perspective of both the provider and commissioner of research services. It explores considerations relating to the scope of the research project, key personnel, responsibility for obtaining regulatory consents or approvals, any necessary third-party licences, resources, the reporting process, fees, confidentiality, background and foreground intellectual property rights (IPRs), the treatment of research results, trade marks, warranties, indemnities, limitations on liability and termination. Research services contracts Research services contracts are required where a business is outsourcing research to a third party with specialist knowledge and skills. The research services provider may be a university or other academic institution or a contract research organisation whose sole business is the provision of research services. Research services contracts are common in the pharmaceutical and biotechnology industries but may be used in other fields as well. They differ from collaborative and joint research projects in that the research services provider generally has no further involvement in the project after termination of the agreement and will not acquire or retain any of
NEWS
Research published in the British Journal of Industrial Relations on 25 August 2025 has concluded that jobs in small, young, private sector organisations are under-represented in UK official earnings statistics provided by the Annual Survey of Hours and Earnings (ASHE). ASHE has sought to address known response biases in the achieved annual samples (which comprise 1% of all employee jobs), by introducing cross-sectional weights to make them representative of the working population by gender, age, occupation and region. However, researchers from institutions such as the Business School at City, University of London, UCL, UWE Bristol and the University of Stirling found that jobs in smaller, younger and private sector organisations remain under-represented in the achieved annual samples, even after applying those weights.
NEWS
Law360: Research by insurance company Aviva, published on 23 July 2025, has found that men are more likely than women to see themselves as the pension planner in their household.