Legal Checklists

General comments This Checklist addresses a range of points that may surface when preparing a costs budget, also called Precedent H. It is presented as a series of questions and answers. When producing a costs budget, bear in mind that the costs in any case will vary with the particular circumstances of that matter, so the issues highlighted below are, accordingly, generic. A link is also supplied to a fully interactive Precedent H. When must a costs budget be filed and exchanged? A costs budget must be prepared, filed with the court and served on the other parties unless the proceedings are excluded from the costs budgeting rules. Where an exclusion applies, a budget is not required unless the court directs otherwise, eg the claim value is equal to or exceeds £10m. For information, see Practice Note: Costs management and costs...

This checklist flags matters often needing attention before a party refers a dispute to adjudication. It also points to detailed, in-depth guidance on the various topics and identifies the relevant provisions of the Housing Grants, Construction and Regeneration Act 1996 ( HGCRA 1996) where appropriate, as well. Legal matters Confirm there is a lawful basis to refer the dispute to adjudication, including whether it has crystallised and falls within the class of disputes that may properly be adjudicated. Entitlement to refer a dispute to adjudication The referring party must hold a legal entitlement to refer a dispute to adjudication. That entitlement may arise under statute, under the contract, or by an ad hoc agreement between the parties. Accordingly, consider the following: Is there a...

Checklist on cryptoassets This Checklist on cryptoassets examines matters for dispute resolution practitioners to address when handling claims that touch on cryptoassets. It reviews the principal procedural questions that arise in bringing a civil action where cryptoassets — commonly their retrieval — are implicated in some respect. The distinctive intangibility and cross-border character of cryptocurrencies, enabling actors to exploit the asset and shift it worldwide into less favourable jurisdictions, has rendered them vulnerable to misappropriation and theft and, so, far, the body of caselaw in this field has largely focused on recovering stolen cryptocurrencies. Rulings to date have mostly been confined to the interlocutory stage, yet the English courts have shown an inclination to adopt a flexible stance and to utilise the panoply of procedures and rules available to them in order to support effective efforts at civil recovery......

This checklist outlines the principal ISDA documentary points that should be considered during a financing transaction. Term sheet stage If acting for a borrower and specialist hedging advisers are engaged, obtain their input on the term sheet. If acting for a borrower, confirm the total pricing of the deal is clear (covering both the loan and the hedge). A borrower may pick a lender for a low loan margin, only to find that the swap credit spread from the same lender renders the overall economics less appealing than those from another lender. Are the loan and hedging set on an IBOR basis (eg EURIBOR) or on a risk free rate (eg SONIA or SOFR)? Does the lender require a zero floor in its loan? If acting for a borrower, ensure the borrower understands the consequences of any mismatch between this and the...

Where it is proposed to wind up a solvent company voluntarily When a solvent company is to be wound up voluntarily, the directors may, at a board meeting, make a statutory declaration of solvency confirming that, after a full enquiry into the company’s affairs, they hold the view the company can pay all its debts in full, together with interest at the official rate, within no more than 12 months from the commencement of the winding-up. See Practice Notes: What is a members’ voluntary liquidation and when is it typically used? MVL—the information and documents to be provided to the liquidator by the company It should be noted that if the directors make such a statutory declaration, the company proceeds by way of a members’ voluntary liquidation ( MVL). Where no declaration is made, the company instead enters a creditors’ voluntary...

This Practice Note serves as an initial guide to listing debt securities on the London Stock Exchange ( LSE). It outlines the ideas of listing and admission to trading, and centres on the main markets for listing debt instruments. It does not aim to detail every applicable requirement and provides links to relevant resources for further reading. It also excludes disclosure requirements and ongoing continuing obligations. Principal markets for debt securities listings The LSE operates several markets, but the venues commonly used for debt capital market listings are: the Main Market the International Securities Market ( ISM) the Professional Securities Market ( PSM) ( Note: From 19 January 2026, the PSM is closed to new admissions) In addition, the LSE runs two markets tailored to particular segments of the debt securities space: the Order book for Fixed Income Securities ( OFIS) the...

This timeline outlines key developments linked to the Alternative Investment Fund Managers Directive ( EU) 2011/61/ EU ( EU AIFMD) from January 2024 onwards. For earlier developments, see Alternative Investment Fund Managers Directive ( AIFMD)—timeline [ Archived]. For further guidance on EU AIFMD, see Practice Note: EU AIFMD—essentials. For guidance on the UK Alternative Investment Fund Managers ( AIFM) regime, see Practice Note: UK regulation of alternative investment fund managers—essentials. 2026 13 March 2026 — ESMA — Guidelines on Liquidity Management Tools ( LMTs) for UCITS and open-ended AIFs. The European Securities and Markets Authority ( ESMA) has published guidelines on LMTs for UCITS and open-ended AIFs......

This Checklist This Checklist presents, in a tabular format, the matters to address when preparing a loan that references a compounded risk-free rate ( RFR) such as the Sterling Overnight Interbank Average Rate ( SONIA), calculated in arrears. It explains the purpose of the key provisions, highlights issues to weigh up, and offers drafting pointers and practical guidance for practitioners. For further analysis, see Practice Note: Interest provisions in risk-free rate based loan agreements. The Checklist draws on provisions contained in the Multicurrency Term and Revolving Facilities Agreement incorporating backward-looking compound rates and forward looking term rates (lookback without observation shift) issued by the LMA (the LMA Compounded RFR Facilities Agreement). The LMA’s recommended form documentation, with accompanying user guides and commentary, is accessible to LMA members on its website. While the Checklist is prepared on the basis of LMA-style...

ARCHIVED: This Checklist has been archived and is not maintained. In Brussels I (recast), the relevant provisions appear in art 25, whereas in Brussels I they were set out in art 23. A central concern during the recast was to guarantee that the regulation’s rules on choice of court agreements were strengthened so those agreements would take full effect. This mattered because of their practical importance for international commerce. To tackle this, the reforms not only amended existing terms but also added new ones. The choice of court agreement provision, formerly art 23 in Brussels I and now art 25, has seen four principal changes; another alteration being cross‑referencing to other articles. The intention was that jurisdiction clauses be fully upheld in practice, and this requirement underpinned the recast exercise from start to finish...

This table sets out a comparison of the tax treatment for: sole traders; partnerships (for these purposes covering general partnerships, limited liability partnerships ( LLPs) and limited partnerships); and companies. It does not take into account any reliefs or exemptions that might be available to specific taxpayers, nor any anti-avoidance provisions that could apply in particular situations. For rates and thresholds in the current tax year, see Practice Note: Key UK tax rates, thresholds and allowances. For further detail on the tax position of each business vehicle, see Practice Note: Forms of business vehicle—tax summary. For more on selecting between business vehicles, see Practice Note: Tax influences on choice of business vehicle. Point of comparison Tax treatment Sole trader: Not a separate taxable entity — the sole trader is taxed personally on their trading...

This diagram outlines the restricted defences that can be advanced in answer to an application pursuant to the Hague Convention on the Civil Aspects of International Child Abduction 1980 (the 1980 Hague Convention)......

The 1980 Hague Convention This flowchart outlines the actions required during proceedings under the Hague Convention on the Civil Aspects of International Child Abduction 1980, also known as the 1980 Hague Convention......

Checklist This Checklist offers guidance on witness evidence supporting an application for pre-action disclosure under CPR Part 31.16, in situations where the applicant and respondent are likely to become parties to later proceedings. It also identifies the main matters to include within the witness statement, together with cross-references, points on costs, and exhibits where relevant......

When assessing their VAT position and arranging internal matters, charities must reflect on numerous considerations, aiming to achieve the most beneficial VAT outcome open to them, i.e. to pay and/or incur as little VAT as possible, or none at all, wherever attainable within that framework as a whole......

The requisite period to bring an unfair dismissal claim is two years. For additional general guidance, refer to Practice Note: Qualifying period for unfair dismissal. That said, no qualifying period applies if the reason, or principal reason, for the dismissal is among those specified as set out in the table below......

The impact bankruptcy and divorce proceedings have on one another How bankruptcy intersects with divorce has been examined in a raft of decisions in both the bankruptcy jurisdiction and the family courts. Regrettably, it is far from rare for a bankruptcy to be underway whilst a divorce is progressing, and running the two together can produce clashes over how assets are apportioned. Such concurrent proceedings often bring the division of property into sharp focus, as priorities compete. The family court, for its part, aims to make a property adjustment order, assessing, among other factors, the future needs of the spouses and any children; by contrast, the bankruptcy court divides the assets with creditors’ interests placed foremost in the decision-making. This possible tension must be weighed with care, and, in practice, the key issue is timing: when the bankruptcy was commenced compared with the date a...

Checklist and timeline A straightforward checklist and timeline sets out each stage from the point a debt becomes due right through to a bankruptcy petition being presented. It is relevant to personal insolvency where a statutory demand has been served on the debtor. For further reading on statutory demands, please refer to: Statutory demands for restructuring and insolvency professionals—overview Practice Note: What is a statutory demand?......

Assistance with the checklist This summary checklist and timeline presuppose that the trustee in bankruptcy (trustee) is ready to file an application to the court for an order for possession and sale of a property in which the bankrupt previously held an interest that now vests in the trustee under section 306 of the Insolvency Act 1986 ( IA 1986). It also assumes the trustee has written to the owners to try to realise their interest without issuing court proceedings, and that it is the appropriate moment to make the application. If the property is of a type within IA 1986, s 283A(1), then unless the trustee takes certain steps before the third anniversary of the bankruptcy order—among them applying to court for a possession and sale order—the trustee’s interest in that property will automatically re-vest in the bankrupt....

Checklist Directors of insolvent companies, or companies that are likely to become insolvent, can seek an initial 20 business‑day moratorium under Part A1 of the Insolvency Act 1986 ( IA 1986). The objective is to give viable businesses breathing space to reorganise or attract new investment, free from creditor action. This is a free‑standing protection, not a gateway to any particular insolvency procedure. It is intended to be a streamlined route that keeps administrative burdens low, makes progress as swift as possible, and avoids imposing disproportionate costs on struggling businesses. The aim is to reduce paperwork to the bare minimum and enable the moratorium to progress as swiftly as practicable. An insolvency practitioner ( IP) serves as the ‘monitor’; however, subject to certain constraints, the directors continue to run the company on a day‑to‑day basis. It is therefore a...

When a default judgment is recorded against a defendant, the court lacks discretion and is obliged to set it aside under CPR 13.2 if it was entered wrongly. Accordingly, it is therefore important to determine whether or not a defendant facing default judgment can pursue an application under CPR 13.2, even where they might also rely on CPR 13.3 to seek to have the judgment set aside on discretionary grounds......