Relative return meaning

In both corporate and personal insolvency, office-holders chiefly gather the company’s or individual’s assets, realise them and distribute the proceeds to creditors in accordance with the statutory waterfall. For more detail, consult the following Practice Notes: Waterfall of payments—a comparative guide Waterfall of payments in administration Waterfall of payments in liquidation Waterfall of payments in bankruptcy Waterfall of payments in administrative receivership Pari passu distribution Pari passu, a Latin term, translates as ‘with an equal step’ or ‘on equal footing’. In insolvency, it captures the principle of proportionality and is used to describe how creditors are treated relative to one another. Where claims rank ‘pari passu’, all creditors within the same class are paid alike, with no one preferred. If funds are insufficient to satisfy debts in full, distributions are made pro rata on a pari passu basis, so each receives a proportionate return. For instance, unsecured creditors (ie creditors in the same category) might receive 10p...

Businesses are continually seeking ways to raise performance, and effective pricing can play a pivotal role in boosting the bottom line over time and with deliberate attention. This Practice Note introduces pricing in law firms and sets out guidance on key considerations for any firm aiming to adopt a more sophisticated pricing model. Pricing warrants attention in every business—the connection between price and profitability surfaces both in anecdotes and in deeper analysis. Although the outcomes from refining pricing strategies and tactics will differ greatly, one study indicated that pricing has two to four times the potential to influence profitability when compared with other business levers. Firms that recognise and actively pursue pricing as a central strand of their strategy typically outperform industry peers without a pricing focus across several important financial metrics, eg return on equity and net profit. Firms that are moving towards pricing improvement are also demonstrably benefiting relative to peers that are not, even where the pricing programme they are running is still a work in...

This Practice Note sets out an overview of payment models and royalty practice within the publishing sector. It addresses: advances; how royalties are computed on physical books; co-edition royalties; omnibus inclusion royalties; e-book royalties; and audiobook royalties. It further defines and explores non-royalty revenue, including takings from merchandising, anthology rights, serial rights, film and television options, fees for the use of third party material, flat fees and ghost writer agreements. For authors of general consumer works, the most established route to remuneration is an upfront sum from a publisher (an advance) with later payments calculated as a percentage of the proceeds of sale (a royalty or royalties). However, this approach does not always apply, for example in academic publishing or journals. Advances In essence, an advance is a payment credited against possible future royalty earnings, granted in return for a licence to publish the work. The precise size of the advance will hinge on multiple considerations, notably the parties’ relative bargaining strength, which itself turns on matters such...

1 Introduction 1.1 Compassionate leave exists to help you handle the death of a close family member, organise arrangements and be present at the funeral. It can also be approved when a close relative is severely or critically unwell. 1.2 This policy explains how [ enter name of organisation ] (the Company) will deal with compassionate leave and the actions you should follow if you wish to request compassionate leave. 1.3 [ The Company recognises the personal nature of bereavement and grief and is dedicated to assisting employees in practical and reasonable ways. ] 1.4 [ This policy applies only to employees. It does not extend to agency workers, consultants [ , contractors ] [ , volunteers ] [ , interns ] or casual workers. OR This policy applies to all employees, officers, agency workers, consultants [ , contractors ] [ , volunteers ] [ , interns ] and casual workers. ] 1.5 [ This policy has been [ agreed OR implemented following...