Written in partnership with Nothando Malaba (Associate, Hogan Lovells International LLP) and Maegen Morrison (Partner, Hogan Lovells International LLP). What is bookbuilding? In the context of an initial public offering, 'bookbuilding' is the standard process by which the price and size of an issue of securities is set generally before the investment banks execute the underwriting agreement. It is usually held where there are institutional investors participating in the offering. The bookbuilding process is typically led by the global co-ordinator, acting on behalf of a syndicate of underwriters, who invites potential investors to submit binding (but revocable) bids for the securities on offer. During the marketing

An easement may be established by long use by statute (Prescription Act 1832 (PA 1832)). We are assuming that this Q&A relates to a right of way. The user must be ‘as of right’ and not as a result of: • force • secrecy • permission of the servient owner (this requires an unequivocal overt act; the grant of a personal licence was held not to amount to a positive act evidencing an implied licence to a subsequent owner following expiry of the licence. It was immaterial that the servient owner was not actually aware of the change in ownership of the dominant land triggering the expiry of

Local authorities who have acquired land for a specific statutory purpose must hold that land for that purpose. They cannot use that land for a different purpose unless authorised to do so by statute and can only change the purpose for which they hold land using statutory powers of appropriation. Section 122 of the Local Government Act 1972 (LGA 1972) permits a ‘principal council’ to appropriate any land which belongs to them and is no longer

Revocation of a grant of probate can occur for a number of reasons including invalidity of the Will or the grant being improperly obtained. Revocation can also occur when the grant is properly obtained, but is subsequently rendered defective. Death of a grantee before issue and loss of capacity of one of multiple grantees will also result in revocation. The act of revocation can be executed in different ways. Under the Non-Contentious probate Rules 1987, SI 1987/2024, r 41(1), a district judge or registrar can order that a grant be revoked if satisfied that such an order should be made. An order can be made either upon an application

Re-registration of companies Part 7 of the Companies Act 2006 (CA 2006) deals with the re-registration of a company, with CA 2006, ss 97–101 dealing specifically with the re-registration of a public company as a private company. Our Checklist Re-registration of a company: from public to private—checklist provides a guide of the steps to be taken and the documents required for the re-registration process. Our Practice Note: Re-registration of a public company as a private limited company—an introduction and

STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. The content in this Q&A may have been affected by this change. There are no specific requirements set out in either the Insolvency Act 1986 (IA 1986), the Insolvency Rules 1986, SI 1986/1925 (IR 1986) or the Practice Direction on Insolvency Proceedings (2014) (the PD) on the process to be followed for the withdrawal of an application for an injunction restraining presentation of a winding-up petition. Accordingly, the process is governed by the provisions of the Civil Procedural Rules (CPR). However, as an application for an injunction restraining

It is the duty of the purchaser of UK land interests to notify HMRC about every notifiable transaction using a land transaction return (LTR) within 30 days after the effective date of the land transaction in question. An LTR is a self-assessment of stamp duty land tax (SDLT) and must be in the prescribed form, contain the prescribed information and include a declaration by the purchaser (or its appointed representative) that the LTR is, to the best of its/their knowledge, correct and complete. The prescribed form for an LTR is a Form SDLT1. Where the wrong amount of SDLT has been paid, there will have been an

We have assumed that the minor child’s surviving parent was not married to or in a civil partnership with the deceased, such that the minor child is solely entitled to the deceased’s estate on intestacy. We refer you to Practice Note: Intestacy—priority to apply for grant—Q&As, particularly at the section titled ‘Particular relatives and entitlement to grant on intestacy’ under the subheadings ‘Minor children only’ and ‘Minor children and deceased’s parents’. You may find the following Q&A helpful: Where an individual dies intestate with no surviving spouse or civil partner, but leaving a minor child and parents, can the child be ‘cleared off’ so that the deceased’s parents can take out the grant? If this is not possible, will somebody need to take grant of letters of administration

A notice under section 5D of the Landlord and Tenant Act 1987 (LTA 1987) is one which provides a tenant with a ‘right of first refusal’ to purchase the landlord’s interest in land. See Practice Note: Tenants' right of first refusal—Landlord and Tenant Act 1987. Offer notice When the landlord intends to dispose of his interest in the land, he will serve a notice on the tenants who qualify to be given a right of first refusal. See Practice Note: Tenants' right of first refusal—Landlord and Tenant Act 1987. The notice must comply with the LTA 1987, s 5A to LTA 1987, s 5E. It must be in writing and sent by post. After the notice has been sent, the landlord cannot accept any other offer or otherwise dispose of his interest in the land in the period that has been set out in the notice, except to a person nominated by the required majority of qualifying tenants. Nominated

For claims issued from 22 May 2024 issued for sums of money of under £10,000 (ie the small claims track limit), it is mandatory to undertake mediation, as a result of CPR PD 51ZE. It is free of charge and there is no requirement to settle or even to engage with the mediation itself. The scheme is part of a pilot, which runs until 21 May 2026. Following completion of pleadings and the filing of Directions Questionnaires, the claim is automatically stayed for 28 days and a referral to mediation is made. CPR PD

Section 1 of the London Government Act 1963 (LGA 1963) established 32 administrative areas known as London boroughs. Provision is made for the incorporation by charter of the inhabitants of each London borough, and the name of the borough is supplied by its charter. All of the London boroughs have been incorporated by a charter which dictates

In order to limit corporate identity fraud, typically arising via unauthorised changes to company records, Companies House offers a free protected online filing service (PROOF) for limited companies and limited liability partnerships. PROOF prevents the filing of certain paper forms including: • changes to registered office address • changes to company officers (eg appointments, resignations or personal details), and • the confirmation statement For a full list of the forms that can be protected by PROOF see the Companies House