Future losses meaning

Purpose of checklist This checklist aims to set out the types of considerations that must be kept in view-and for which client instructions will be required-when preparing a joint venture agreement (JVA) and articles of association for a corporate real estate transaction. For further key points to address when drafting a JVA, see Checklists: Corporate joint venture preliminary issues-checklist and Joint venture shareholders’ agreement-checklist. See also Practice Note: Property Joint Ventures-general issues for a summary of the commercial matters the joint venture parties will need to weigh when establishing a property joint venture (JV). Corporate real estate JVs typically involve collaboration between parties able to source real estate (with one party possibly owning, and contributing to the joint venture company (JVC), the property to be developed), provide substantial capital to the JVC, supply or arrange debt funding (to finance the development) and offer the expertise to develop and/or manage the property. The JVA will document the parties’ agreement on their respective rights in relation to issues such as management...

Introduction This Flowchart sets out the procedure for securing the court’s approval of a settlement in a child’s case. It steers practitioners from the point of a proposed agreement to the approval hearing, covering when to commence proceedings, the paperwork needed for approval, how to address future losses and periodical payments, and how the court evaluates if the compromise is fair and reasonable...

In this issue: Building safety JCT contracts Litigation Building regulations Projects Daily and weekly news alerts New and updated content Construction trackers Building safety Building safety Damages under the Defective Premises Act 1972—what’s recoverable? (Wilson v HB (SWA)) In Wilson v HB (SWA) Ltd [2025] EWHC 1315 (TCC), the TCC removed multiple heads of claim pursued against a developer by former leaseholders of residential flats. The defects case relied on alleged breaches of duty under section 1 of the Defective Premises Act 1972 and breaches of leasehold covenants. The court concluded that several claimed losses were too remote, or simply hypothetical. See News Analysis: Damages under the Defective Premises Act 1972—what’s recoverable? (Wilson v HB(SWA)). The Building Safety Levy (Scotland) Bill—a quick guide The Scottish Government presented the Building Safety Levy (Scotland) Bill to the Scottish Parliament on 5 June 2025. The Bill proposes a new tax: the Scottish Building Safety Levy....

In this issue: Property management Insurance Transferring property Property development Environment, energy and buildings Property insolvency Property taxes Property in Scotland Additional property updates this week Daily and weekly news alerts Trackers New Q&As Property management RICS Consultation on Service Charges in Commercial Property The Royal Institution of Chartered Surveyors (RICS) is seeking views on a second edition of its Professional Standard for Service Charges in Commercial Property. RICS confirms that the updated standard, scheduled for release in summer 2025, is intended to tackle key challenges in administering service charges, including the timely issue and prompt circulation of budgets and year-end certificates, and aims to reduce the causes of disputes between landlords and tenants, providing clearer guidance on resolution where there are disputes and related disagreements between parties. RICS also confirms it will support the negotiation, drafting, interpretation and day-to-day operation of leases, ensuring they adhere to recognised industry best practice...

The impasse The standstill in settling coronavirus BI claims has sorely tried policyholders—many being small firms battling the financial shock of lockdown and the pandemic. In places, irritation hardened into anger as policyholders compared experiences and suspected insurers were seeking to argue it both ways. Some with BI extensions triggered by closure on a public authority’s order say they were told their losses were uninsured because they would have arisen anyway from the pandemic, with its fear, lockdown and social distancing. By contrast, others with BI wordings tied to an infectious disease say they were informed their losses were uninsured because they would have occurred anyway due to the government’s direction to shut businesses. One can readily see why policyholders felt aggrieved, not least given the Prime Minister and Chancellor’s statements on 17 March 2020 that insurers would pay companies compelled to close by the coronavirus outbreak, where policies provided for such cover...

This Practice Note provides links to the national life tables and to the projected life expectation tables. National life tables Produced annually for the UK and its constituent countries, national life tables present period expectation of life statistics...

This Practice Note addresses general damages in relation to personal injuries and will consider: What are general damages Personal Injuries Resolution Board (PIRB) Level of damages in each court Book of Quantum (BOQ) Personal Injuries Guidelines (PIG) Assessing damages for multiple injuries How payments of damages awards are made Reduction in awards of general damages What are general damages General damages are compensation awarded to a person for the pain and suffering experienced as a result of a personal injury. They cover harm endured to date and what is anticipated in the future, and include both physical harm and psychiatric injury. They are distinct from special damages, which reimburse out-of-pocket losses (such as medical or travel expenses) and loss of earnings arising from the injury. When valuing general damages, there should be an appraisal of the reduction in the injured person’s capacity to enjoy life. The different categories of general damages are outlined below. For further...

Assessing how a merger affects rivalry requires evaluating the extent to which the parties are close and effective competitors of one another. The judgement should be forward-looking, asking how the competitive landscape may evolve over coming years and anticipating changes. Relevant considerations for that assessment include, among others: potential product obsolescence; the status and evolution of any pivotal technology; the firms’ resources; the firms’ indebtedness; and whether the activities at issue are central or peripheral to their businesses. At its most acute level, one of the firms may simply be unlikely to remain in operation on a sustained basis, for instance because of continuing financial losses and heavy debt, or because its core products or technology have become out of date or effectively obsolete. In those circumstances, the acquirer may contend that the target is not, or over the appropriate future horizon will not be, an effective competitor, or will leave the market entirely. This contention has come to be labelled the ‘failing firm’ (or ‘existing firm’) defence, and the...

[ AT THE COUNTY COURT AT [ INSERT ] OR IN THE HIGH COURT OF JUSTICE ] [ [ SPECIFY DIVISION ] ] [ DISTRICT REGISTRY AT [ INSERT LOCATION ] ] Claim No: Between [ Insert name ] Claimant and [ Insert name ] Defendant ________________________________________________ SCHEDULE OF LOSS CALCULATED TO [ INSERT DATE OR INSERT THE DATE OF TRIAL ] ________________________________________________ Note On 2 December 2024, the Lord Chancellor declared that the discount rate would move to positive 0.5%. This positive 0.5% rate comes into effect on 11 January 2025. Schedule A1 to the Damages Act 1996 stipulates that later reviews are to occur within five years of the end of the preceding review, which means the next review must start on or before 2 December 2029. The Claimant reserves the ability to revise, amend, or supplement this schedule at any point up to and including trial. A....

[ IN THE COUNTY COURT AT [ INSERT ] OR IN THE HIGH COURT OF JUSTICE ] [ [ SPECIFY DIVISION ] ] [ [ SPECIFY SPECIALIST COURT ] ] [ [ INSERT LOCATION ] DISTRICT REGISTRY ] Claim No: Between [ A B ] Claimant and [ X Y ] Defendant ______________________________________________ COUNTER SCHEDULE OF LOSS ______________________________________________ The Defendant retains the right to vary, revise or supplement this Counter Schedule of Loss at any time up to and including the trial. PAST LOSSES 1 Previous loss of earnings (i) Loss of earnings to [ insert date eg 26 February 2019 ] are accepted in the pleaded claim at £[ insert amount ]. (ii)–(iii) Loss for the period [ insert date eg 26 February 2019 ] to [ insert date eg 25 August 2019 ] is not admitted. As a matter of principle, the Defendant accepts that it may take time to secure work of equivalent remuneration. However, the Claimant’s evidence does...

Except for liability for death or personal injury, each party shall indemnify, and keep indemnified, the other against all costs and losses (including legal fees) from any future claims, actions or proceedings about the Dispute, in whole or in part, that it or its associated companies, officers, directors, agents or affiliates may bring against the other party or its associated companies, officers, directors, agents or affiliates. The parties shall not take, authorise, procure or permit any act intended to frustrate this Settlement Agreement. Each party shall indemnify, and keep indemnified, the other for all costs and damages (including legal expenses) incurred in any future actions, claims or proceedings by [ insert specific third parties ] concerning the [ Dispute, or any part of it, OR Contract ], where liability mirrors the losses covered by this Settlement Agreement. Such sums are payable only insofar as they relate to claims arising from the [ matters which have been settled in this Settlement Agreement ], and not to unrelated...