Schedule 2A of the Insolvency Act 1986 (IA 1986) was inserted by the Enterprise Act 2002 to provide detail on the exception to the prohibition on the appointment of administrative receivers by the holders of floating charges under IA 1986, s 72B where there is a capital market arrangement that involves the issue of a capital market investment. IA 1986, Sch 2A, para 2(1) defines a capital market investment as an investment within the Financial Services and Markets Act 2000 (Regulated

The National Planning Policy Framework (NPPF) defines discounted market sales housing as housing ‘sold at a discount of at least 20% below local market value’. This can be interpreted as meaning the open market value as measured according to the local area in which the housing project is being provided. The calculation of local market value is focussed on regional factors, eg property values in the local area. The focus on taking local factors into account is reinforced by the next sentence of the NPPF’s Annex 2 definition for discounted market sales housing which states that ‘eligibility is determined with regard to local incomes and local house prices’. Therefore, it is not possible to provide an exact definition of ‘local market value’,

In the case of HL v United Kingdom, also known as the Bournewood case, the European Court of Human Rights held that a procedure prescribed by law must be followed where a person with mental disorder is cared for or given treatment in conditions which amount to a deprivation of their liberty. As a result of this case a number of provisions were inserted into the Mental Capacity Act 2005 (MCA 2005) by the Mental Health Act 2007 (MHA 2007) and came into force on 1 April 2009. In particular the addition of Schedule 1A to the MCA 2005 introduced what have become known as the Deprivation of Liberty Safeguards regime or DOLS regime. The powers given by MHA 2007 to the Court of Protection and the DOLS regime were introduced in order to provide appropriate legal protection for incapacitated individuals who are or may be deprived of their liberty outside of the framework of the Mental Health Act 1983 (MeHA 1983). The DOLS regime was heavily

Order appointing the deputy Unless the application and notification procedure give rise to any queries or objections, and provided at least 14 days have elapsed since the last notification was effected, the court will proceed to draw up and issue the order appointing the deputy. This will also set out the scope of the deputy’s authority to act, provide for payment of any costs incurred and set the security that must be provided. On receipt of the order the deputy must comply with the requirement to provide security (see Security below for further information) and, in most cases, the order will not be effective until security is in place. To avoid unnecessary delay, orders are often limited so that they do not come into effect until a month after they have been issued. P must be notified of the making of a final order of the court. This is usually done using form COP14 with a copy of the order attached. The person effecting notification must explain the effect of the order to P and inform P that they

Arbitration analysis: The Arbitration in Numbers Survey conducted in 2025, based on data from 2023 and 2024 from eight Arbitration Chambers established in Brazil (the Survey), including the International Court of Arbitration of the ICC, makes it possible to assess the evolution of arbitration usage in Brazil since the enactment of the Brazilian Arbitration Law, Law No 9,307/96 (BAr). Written by Selma Ferreira Lemes, lawyer, professor of arbitration, member of the drafting committee of the Arbitration Act, and independent arbitrator.

This Practice Note discusses the anti-deprivation principle (the ADP), the pari passu principle (PPP) and the difference between these principles. The anti-deprivation principle The ADP is a principle that seeks to prevent parties from contracting out of the statutory regime for the collection, realisation and distribution of an insolvent estate. It prevents assets that should form part of an insolvent estate from being removed from that estate. In that regard, it protects the value of the estate from attempts to evade insolvency laws and operates to prevent an insolvency estate from being deprived of an asset that would otherwise be available for the benefit of its creditors. History The origins of the ADP are found in the old common law rules of bankruptcy. Though it was formerly referred to as a fraud on the bankruptcy laws, it is now known as the ‘anti-deprivation principle’. Case law Having become relatively obscure, the ADP came to prominence again in several important decisions. It

Company accounts, institutional shareholder guidelines and HMRC guidance all refer to the ‘face value’ and ‘fair value’ of share options. The two terms have very different meanings, and understanding each is essential in comparing consistently the size or value of the grants made and reviewing the impact from a company accounting perspective. This Practice Note gives a high-level overview of the differences between the face and fair value of a share option and details how the face and fair values are used to compare different remuneration packages. Face value The face value of an option is the amount by which the value of the shares under the option on a particular date exceeds the aggregate price to be paid for them. Example If an option: • is over shares which each have a current market value of £3.50 • the exercise price is £1.00 per share, and • there are 10,000 shares under the option the

This table compares the differences between the two versions of the ISDA English law credit support documents: the 1995 ISDA Credit Support Annex (Bilateral Form—Transfer) (English law Credit Support Annex) and the 1995 ISDA Credit Support Deed (Security Interest—English law) (English law Credit Support Deed). While the English law Credit Support Annex requires the outright transfer of cash and securities (the 'title transfer' approach), the English law Credit Support Deed uses a charge based approach. In general the English law Credit Support Annex is much more widely used than the English law Credit Support Deed. For more information on the English law Credit Support Annex, see Practice Note: ISDA Credit Support Annex: Transfer—English law and for more information on the English law Credit Support Deed, see Practice Note: ISDA Credit Support Deed: security interest—English law. For information more generally on the ISDA credit support documents, see Practice Note: What is credit support and how is it used in the ISDA credit support

This Practice Note considers the torts of: • trespass to land • tort of conversion and trespass to goods • trespass to the person (assault, battery and false imprisonment) • privacy and defamation • tortious product liability • tortious liability for animals For guidance on other torts, see Practice Notes: • Procedural abuse torts and similar • Vicarious liability and multi-party torts For guidance on negligence claims, see Practice Note: Negligence—key elements to establish a negligence claim and related content. For practical guidance content on negligence, nuisance and breach of statutory duty claims, see: Tort and negligence claims—overview. For guidance on bringing and defending claims against professionals, see: Professional negligence claims—overview. The tort of trespass to land The tort of trespass to land is committed when a person (D) does an act, which causes entry into the land of another person (C) without permission or justification. It is not necessary for any harm to be caused to the land concerned for the tort to be committed. For there

Property analysis: Emma Pinkerton, partner at CMS, examines the recent ruling in Camelot Property Management Ltd and another company v Roynon and explores the criteria required for tenancy and some of the problems confronting those granting residential licenses.

Dispute Resolution analysis: The court refused permission to serve out on two Iranian defendants, rejecting arguments that there was a real risk that the claimant would not be able to obtain substantial justice in Iran. The court summarised the applicable tests in respect of permission to serve out, and gave detailed consideration to the issue of whether, even if Iran was the natural forum, the English court should take jurisdiction on the grounds that Iran would not be the appropriate forum if the English court was satisfied, by cogent evidence, that there is a real risk that substantial justice would not be obtainable there. Written by Angharad Parry, barrister, at Twenty Essex.

Restructuring & Insolvency analysis: The court found in favour of liquidators seeking to recover payments deemed void pursuant to section 127 of the Insolvency Act 1986 (IA 1986). Considering limitation, arguments of special and exceptional circumstances, and the defence of change of position, Insolvency and Companies Court (ICC) Judge Barber found no reason to justify an exception to the principle of pari passu distribution to unsecured creditors. While unaware of the petition, the respondent’s services had not improved the position for unsecured creditors and therefore they were not entitled to be paid in full to the detriment of other creditors who would only receive a small dividend. A change of position defence was held to be constrained to circumstances in which validation would be ordered. As no special or exceptional circumstances were established to justify the validation of the payments, a change of position defence was not available. The respondent was ordered to repay the sum claimed in full with interest. Written by Olivia Reader, trainee legal executive at Ashfords LLP.