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GLOSSARY
Notice served pursuant to the Torts (Interference with Goods) Act 1977, where goods have been left behind at lease expiry (commonly following forfeiture). It imposes an obligation on a former tenant to collect the goods and allows the landlord to sell the goods, if the tenant fails to do so.
GLOSSARY
Type of career average scheme where a member’s pension is calculated as a specified fraction of his total remuneration while he was in the scheme.
GLOSSARY
A total intestacy arises where the deceased made no effective disposition of his estate.
GLOSSARY
A programme which maps total public spending in a local area and identifies efficiencies through local public sector collaboration (as described in the April 2009 final report of H.M. Treasury's Operational Efficiency Programme).
GLOSSARY
A derivative transaction whereby one party, the 'protection seller' (also known as the TRS receiver), pays to the other party, the 'protection buyer' (also known as the TRS payer), the total amount that should notionally be paid under a reference asset and in return the protection buyer (or TRS payer) will pay to the protection seller (or TRS receiver) the actual total amount that is paid under that reference asset
PRACTICE NOTES
How does a total return swap (TRS) work? • The TRS payer (protection seller) is, for example, a bank, A, and the TRS receiver (protection buyer) is, for example, a hedge fund, insurance company, pension scheme, UCITS or other investment fund, B. • A holds the reference asset on its balance sheet. • A agrees to buy protection
PRACTICE NOTES
What does this Practice Note cover? This Practice Note discusses the key features of a total return (or total rate of return) swap (TRS) including: • what a TRS is • how it is classified • who enters into a TRS, and • how to document a TRS What is a total return swap? TRS is derivative contract in which one counterparty transfers the total economic performance, including income from interest and fees, gains and losses from price movements, and credit losses, of a reference obligation to another counterparty. TRSs can have an effect that is equivalent to securities financing transactions (SFTs)—TRSs can be used as synthetic repo instruments for funding purposes. SFTs and TRSs are used extensively by managers of collective investment undertakings to get exposure to certain strategies or enhance their returns. A TRS is an over-the-counter, off balance-sheet transaction. One party, the total return payer (the TRS payer or ‘beneficiary’) will pay to the other party, the total return receiver (the TRS receiver or ‘guarantor’), the actual income (or rate of
NEWS
Law360: The total cost of pensions tax relief on pension contributions has risen by £2.4 billion, government figures revealed on 31 July 2025, amid speculation about a raid on pensions tax relief by HM Treasury in the next Budget.
NEWS
MLex: A Paris court ruling that French energy giant TotalEnergies is required to account for climate risks and emissions from the use of its products raises questions about the climate plans and investment decisions of other large French companies and the EU's environmental due diligence rules. TotalEnergies failed to adequately identify and prevent the climate-related risks from its oil and gas activities under France's 2017 corporate duty of vigilance law, the court found.
NEWS
MLex has reported that TotalEnergies Electricité et Gaz France has been fined €1m by the French Data Protection Authority (DPA) for failing to comply with both the EU’s General Data Protection Regulation, Regulation (EU) 2016/679 (EU GDPR) and the national rules concerning commercial advertising and data subjects’ rights. Following numerous complaints against the company over a failure of a data subject's right to access and to refuse direct marketing calls, the DPA identified violations of Articles 12, 14, 15 and 21 of the EU GDPR, as well as of the national rules regarding electronic communications. The DPA said that the company had, among other things, failed to inform the data subjects of processing their data, nor had it fulfilled the customer's right to access or responded to the information request on time.
NEWS
IP analysis: In a clash over creativity and commercial rights, Courtenay-Smith and The Notting Hill Bag Company Ltd took two brothers and their businesses to court, alleging trade mark infringement, passing off, and copyright infringement related to a tote bag design originally created and sold by Courtenay-Smith back in 2009. But the case took an unexpected turn. The court found that when Courtenay-Smith’s original company was dissolved in 2018, the rights to the trade mark and any attached goodwill didn’t stay with her—they passed to the Crown as bona vacantia (ownerless property). No valid steps had been taken to reclaim those rights, making the later trade mark renewal legally void. Without a valid trade mark or demonstrable goodwill, and with the court also finding no copyright infringement due to differences in design, the claimants’ case unravelled. The court’s dismissal of all claims serves as a clear reminder that inadequate management of IP during and after a company’s dissolution can leave valuable creative and commercial assets beyond recovery and outside the scope of legal protection. Written by Laura Evans, trainee trade mark attorney and Lee Curtis, partner and chartered trade mark attorney at HGF Limited, Manchester.
NEWS
Planning analysis: In Tottenham Hotspur v Haringey LBC, the court had to consider a claim that a planning decision to permit a large new residential development in North London had been made unlawfully. The judge considered the threshold for a lawful assessment of the heritage impact of a development scheme, and the lawfulness of the use of a section 106 agreement and planning conditions to address crowd safety obligations. This judgment reiterates the importance of benefits to the local area in the decision-making process of large-scale development applications and restates the legal principles underpinning lawful decision-making by local planning authorities (LPAs). Written by Sarah Fitzpatrick, partner and head of Planning and Rebecca Bell, trainee solicitor at Norton Rose Fulbright.