Float meaning

This checklist is aimed at an employer client This checklist sets out the steps an employer will ordinarily follow when looking to introduce changes to terms and conditions of employment that are not authorised by employees’ current contracts. It aligns with the Statutory Code of Practice on dismissal and re-engagement (the Code), which took effect on 18 July 2024. For further information on the Code, see Practice Note: Changing terms and conditions of employment—Statutory Code of Practice on ‘fire and re-hire’. Among other points, the Code makes clear that an employer should not float the possibility of dismissal too early, as this may hinder efforts to reach a consensual outcome. It also states that: a threat of dismissal must not be used as a bargaining device to place undue pressure on employees where the employer is not genuinely contemplating dismissal to achieve its aims the employer should approach Acas for guidance before introducing the prospect of dismissal and re-engagement For a...

Daniel Watterson, trading as Wottos Ink On 23 May 2025 at the High Court, Daniel Watterson, who trades as Wottos Ink, together with 68 fellow claimants, contended that both Beazley syndicates had violated their numerous insurance policies by refusing to pay the losses claimed. Wottos Ink, alongside Max Tats, Lytham Float Co Ltd and others, pressed in a filing, recently made public, for a ruling that both syndicates are obliged to indemnify each and every claimant. The claim states that each claimant is entitled to indemnity up to the applicable policy limit. However, no payment has been made at all, said to be an alleged breach of those policies, and the claimants say they have suffered loss and damage as a result of that payment being withheld...

In this issue: Payment Building safety Scots law Consultants on construction projects Guarantees Construction industry news Daily and weekly news alerts New and updated content Construction trackers Payment Late payments—Tackling poor payment practices—government response Tim Wright, Partner in technology, outsourcing and commercial at Fladgate LLP, reviews the government’s reply to the late payment consultation ‘Time to Pay Up’, issued on 24 March 2026, setting out the most far‑reaching measures to deal with overdue payments in more than a quarter of a century. Government figures suggest overdue invoices drain £11bn annually from the UK economy and push 38 firms out of business each day. The reform bundle would grant the Small Business Commissioner (SBC) stronger authority to probe, determine and penalise firms; impose a hard ceiling of 60 days on payment terms; mandate statutory interest at 8% over the Bank of England base rate; fix a legal cut‑off for challenging invoices; and float a prohibition...

Lawyers for lenders shut out of the uptier transaction told US Bankruptcy Judge Christopher M Lopez he should conclude that Serta breached its credit agreement by swapping hundreds of millions of dollars of existing debt for fresh, higher-priority obligations as the challengers contended. Susheel Kirpalani of Quinn Emanuel Urquhart & Sullivan LLP, speaking for the excluded lenders, said only select financiers were allowed into the deal, contravening the pro rata sharing provisions in Serta's credit documents in those proceedings. Conversely, Gregg Costa of Gibson Dunn & Crutcher LLP, for lenders that joined the deal, pressed the court to dismiss those allegations, arguing the excluded investors had 'unclean hands' because they were the first to float a non-pro rata proposal to Serta. 'The excluded lenders threw the first punch,' Costa said. 'They started this; we were responding defensively.' The submissions on 25 March 2026 concluded a trial that began earlier this month on the excluded lenders' breach of contract claims, for which the group seeks at least in damages. At the...

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Facilities management Facilities management contracting is, at its core, a commercial services contract arrangement, covering ‘Hard FM’ (relating to the upkeep and fabric of a building, for example mechanical and electrical systems), ‘Soft FM’ (relating to in-building support functions such as cleaning, security and helpdesk services) or ‘Total FM’ (which can combine a number of hard and soft facilities management services), as required within buildings. See subtopic: Facilities management for construction lawyers. Fédération Internationale des Ingénieurs-Conseils (FIDIC) The International Federation of Consulting Engineers. FIDIC issues a suite of standard-form contracts for deployment on international construction projects. In common usage, ‘FIDIC’ typically refers to that family of contracts rather than the institution itself. See subtopics: FIDIC contracts 2017 onwards and FIDIC contracts pre-2017 editions in practice by practitioners. Feed-in tariff The Feed-in tariff (FIT) scheme—also sometimes known as the...

Claims by contractors for time and/or money Requests from contractors seeking additional time and/or payment are commonplace on construction projects. A time claim seeks an extension of time (EoT) to complete the works (or achieve a contractual milestone) where a delay event has occurred, whereas a money claim typically pursues reimbursement of extra loss and/or expense incurred by the contractor due to delay or disruption to the works. Such a claim might likewise be brought by a sub-contractor under a sub-contract. These claims are usually founded on an express contractual entitlement—ie the contract specifies situations in which the contractor is entitled to time and/or money—and they are advanced and decided in accordance with the contract terms. They do not, of themselves, involve a breach of contract or require there to be a dispute between the parties, although they may ultimately give rise to one. This Practice Note outlines the key issues to consider in relation to time and money claims. Many of these points are relevant even...

What is share ramping? Share ramping is an unlawful type of market manipulation that involves hyping the value of shares to deceive the market. It is often referred to as ‘pump and dump’ or ‘book ramping’. There are various methods, the most common being to float a company on the market while planting unrealistic expectations about its profitability. Another tactic is to acquire shares when prices are depressed and then circulate a rumour that a takeover is imminent. As the price climbs, the perpetrators sell and pocket the gain. The internet, chat rooms, emails and other channels are exploited to create buzz or apparent interest in the market, pushing the price higher. Typically, those behind the scheme then dump or off-load their holdings for profit, leaving ordinary investors holding worthless shares. At times the objective is the reverse—driving the price down in a ‘trash and cash’ ploy—so that the investor benefits by short‑selling or buying at an artificially suppressed price. There is no specific criminal offence labelled share ramping....

In the COUNTY COURT AT [ insert ] OR in the High Court of Justice [ Specify division ] [ Insert location ] District Registry Claim No: Between [ Insert name ] Claimant and [ Insert name ] First Defendant Second Defendant Particulars of claim At all material times, the Claimant was employed as a [ insert job title eg Delivery Driver ] by [ insert employer’s name eg Plant Hire Limited ]. Whilst performing [ his OR her ] duties on [ insert date of accident ], [ he OR she ] was tasked with delivering a power float (‘the float’) to the First Defendant’s premises at [ insert address ]. On the Claimant’s arrival at the premises, the First Defendant informed the Claimant that he planned to remove the float from the lorry using a JCB. The First Defendant further stated that various people on site would assist with this unloading process...

Company number: [ insert number ] [ insert company name ] [ Limited OR plc ] Minutes of a meeting of the board of directors (the Meeting) of [ insert full name of company ] (the Company) Convened at [ insert place of meeting ]. Held on [ insert day, month and year of meeting ] at [ insert time of meeting ] [ am OR pm ]. Present [ Insert names of the director(s) physically present ] [ Insert names of any directors present by telephone as permitted by the Company’s articles of association ] (by telephone) [ Insert names of any directors present by other means permitted by the Company’s articles of association ] (by [ insert other means ]) In attendance [ Insert name of anyone in attendance who does not count towards the quorum for the Meeting (eg the company secretary, any legal advisers) ] Apologies ...

STOP PRESS : Significant reforms to the UK prospectus regime came into force on 19 January 2026. New arrangements for public offers of securities and UK admissions to trading now apply, chiefly set out in the Public Offers and Admissions to Trading Regulations 2024, SI 2024/105 (the POATRs), alongside the FCA sourcebook, The Prospectus Rules: Admission to Trading on a Regulated Market (PRM). The UK Prospectus Regulation and the FCA Prospectus Regulation Rules have been repealed. These changes are intended to streamline capital raising and materially lessen the circumstances in which a company needs to produce an FCA-approved prospectus for a further share issue. For full details of the updates, see Practice Note: UK prospectus regime reform. This Practice Note reflects the prospectus framework that was in force before 19 January 2026...