Relevant Event meaning

When considering an arbitration, you should consider: how the dispute will be financed and managed overall can the client realistically cover your professional fees together with the arbitration expenses? could another party or source be prepared to pick up the entire bill? is any relevant insurance already in place and available? would after-the-event insurance cover be an appropriate option? might your firm accept a conditional fee arrangement, a damages-based agreement, or some other funding structure? See Funding Arrangements—Overview (note: this link is not arbitration-specific) is the client open to exploring third-party funding? ...

When does a section 75 debt arise? An s 75 liability crystallises in respect of an occupational pension scheme that is underfunded on a buy-out basis and: an employment-cessation event happens for a relevant participating employer within a multi-employer scheme an insolvency event occurs in relation to a participating employer of the scheme, or the scheme formally goes into winding up In a multi-employer scheme, an employer’s s 75 debt is its allocated share of the scheme deficit, appropriately assessed on a buy-out basis. As an alternative to immediately paying the s 75 debt in full, an employer may enter into a deferred debt arrangement, an apportionment arrangement, or a withdrawal arrangement. Section 75 does not apply at all to money purchase schemes, unregistered pension schemes, unfunded public sector schemes, and a scheme with only one member. ...

Claimant Claimant's history Has the claimant previously pursued personal injury claims? This can be verified via the Claims Underwriting Exchange (CUE) database, which records all claims that have been lodged with an insurer. Nature of the injuries Do the reported injuries align with, and are they proportionate to, the overall seriousness of the collision event? High occupancy A crowded vehicle (ie several passengers) does not, by itself, prove fraud, yet it may still be relevant where an accident is alleged to have been engineered or staged. No reason to stop Where the defendant maintains the claimant’s car braked without cause, this may potentially point to a set-up incident. Late reported claim Although claimants ordinarily have three full years to bring a claim, when a claim reaches an insurer more than six months after the accident date, without any credible reason at all (eg a prolonged hospital stay, or the claimant’s insurer struggled to identify the defendant’s insurer), there is a...

High Court defence Tokio Marine Kiln Syndicates Ltd and MS Amlin Corporate Member Ltd argued, in a High Court defence dated 10 September 2024, that there has been no actual loss of aircraft leased to the Irish entities Aurum Leasing One and Aurum Leasing Two. In their position, the Russian companies holding the leases have continued to operate the jets, and from that vantage point the aircraft and their engines have suffered no loss or damage. On this basis, the insurers maintain there has been no insured event under the relevant policies...

In this issue: Arbitration in England & Wales International Arbitration Investment treaty arbitration Institutional and ad hoc arbitration Other arbitration and ADR-related news and developments Daily and weekly news alerts New and updated content Useful information No Weekly Highlights on 24 April 2025 Arbitration in England & Wales Arbitration clauses and third parties: limits of protection In Renaissance Securities v ILLC Chlodwig Enterprises [2025] EWCA Civ 369, the Court of Appeal refused an appeal for an anti-suit injunction (ASI) to halt Russian claims pursued against the appellant’s affiliates. Although parts of the dispute arose under contracts governed by English law with LCIA arbitration seated in London, the court concluded those promises to arbitrate did not bind non-party affiliates. It also dismissed the contention that the clauses carried an implied negative pledge preventing related litigation elsewhere. Moreover, while recognising the Russian action might be vexatious and/or aimed at sidestepping the arbitration provisions and relevant sanctions,...

Fidelis, in a High Court defence, argued that Rise Aviation 1 (Ireland) Ltd, EOS Aviation 7 (Ireland) Ltd and Wilmington Trust SP Services (Dublin) Ltd have no cover under the relevant policies and that it is not obliged to pay for the grounded aircraft. The defence, filed on 7 June 2024, states that Russian law, which governs the policies, means the claimants are not insured parties but only beneficiaries or payees, and thus have no entitlement to, or claim for, an indemnity for the losses they say they incurred. Rise, EOS and Wilmington Trust contended that a panel of reinsurers — including Convex Insurance UK and Fidelis — should disburse US$77.2m for three aircraft stranded in Russia, amounting to 95% of the total US$81.3m value that was reinsured. They said the three aircraft were on lease to JSC Stock Company Ural Airlines at the time of Russia’s invasion in February 2022. Alfa Strakhovanie Plc agreed to insure the aircraft,...

Banking regulation—Luxembourg—Q&A guide This Practice Note provides a jurisdiction-specific Q&A on banking regulation in Luxembourg, published in the Lexology Getting the Deal Through series by Law Business Research (law stated as at 7 February 2023). Authors: Loyens & Loeff—Adrien Pierre; Vanesa Gomez Pena. 1. What are the principal governmental and regulatory policies that govern the banking sector? Luxembourg is a leading financial centre, so nurturing the financial industry is a core policy aim. The Ministry of Finance partners with Luxembourg for Finance (the agency for the development of the financial centre) to promote, expand and diversify the Luxembourg financial centre, while identifying new opportunities. Digitalisation. Anti-money laundering and countering the financing of terrorism (AML/CFT). Sustainable finance. Financial education. Policies are being adapted as needed to respond to the covid-19 pandemic, to which the sector has shown strong resilience. 2. What are the defining characteristics of a bank to be caught by the banking laws and regulations? Is...

This Practice Note outlines three types of conditions that may apply to a premises licence under the Licensing Act 2003 (LA 2003): mandatory, proposed and imposed. It explains these in detail, and highlights conditions that are not permitted. Types of conditions LA 2003 permits conditions to be attached to a premises licence or a club premises certificate in three situations, namely: mandatory conditions — conditions that must be included on a premises licence or club premises certificate in the circumstances specified; proposed conditions — including conditions suggested by an applicant or the holder of a premises licence or club premises certificate, and those regarded as consistent with the operating schedule accompanying an application; and imposed conditions — conditions the licensing authority considers appropriate for promoting the licensing objectives, after receipt and consideration of relevant representations at a hearing (unless all parties agree that a hearing is unnecessary). Conditions can also be attached to a standard temporary event notice (TEN), though...

What does this Practice Note cover? This Practice Note summarises the successor provisions in the 2014 ISDA Credit Derivatives Definitions (the 2014 Definitions). It sets out how a successor is identified, including what counts as relevant obligations, the role and actions of the calculation agent and the ISDA Determinations Committee (DC), and which documents must be reviewed to confirm a successor. What are successors? ‘Reference entity’ is defined in Section 2.1 of the 2014 Definitions as the entity stated in the confirmation together with any successor. A reference entity is fundamental to the value of a credit derivative transaction (see What are credit derivatives?—What is a credit derivative? for an explanation of a reference entity) and, therefore, if that entity changes (through merger, acquisition, or similar event), the value of the transaction may alter because the credit standing of the new reference entity might not match that of the original reference entity. If the new reference entity is weaker, the buyer of the transaction benefits, and if...

In the First-tier Tribunal (Immigration and Asylum Chamber) Appeal No: XXXAPPLICANT NAME – AppellantANDSECRETARY OF STATE FOR THE HOME DEPARTMENT Application for costs under 9 (2) of the Tribunal Procedure (First-tier Tribunal) (Immigration and Asylum Chamber) Rules 2014, SI 2014/2604 1 Introduction This application is brought pursuant to paragraph 9 (2) (b) of The Tribunal Procedure (First-tier Tribunal) (Immigration and Asylum Chamber) Rules 2014, SI 2014/2604. The appellant seeks a costs order on the basis that the respondent has behaved unreasonably in the conduct of these proceedings. 2 This application has been made in-time, within 28 days of the date of [ insert relevant event or decision ] and has been served on the respondent. 3 Background The appellant is pursuing an appeal against a refusal of her human rights claim. A’s claim was refused on [ insert date ] and an appeal was submitted on [ insert date ]. The Tribunal listed a substantive hearing for [ date ] at [...

Insert the following as new definitions (if not already included) in the definitions and interpretation clause of the share purchase agreement: 1 Definitions and interpretation Fairly Disclosed • means information [ fully, fairly and accurately ] disclosed [ (relating specifically to the subject matter of the Warranty and without omitting any fact which may render the Warranty and the matter disclosed untrue, inaccurate and misleading) ] and presented with sufficient clarity and detail to allow a buyer to reach a clear, informed and accurate evaluation of the relevant facts, matters or circumstances concerned; Losses • means any and all liabilities, costs, outgoings (including legal expenses), claims, actions, proceedings, damages, fines, penalties, loss of profit [ and Consequential Loss ]; Tax Warranties • denotes the warranties [ and representations ] contained in paragraph [ insert number ] of Schedule [ insert number ], and Tax Warranty refers to any one of them; Warranties • signifies the warranties [ and representations ] included in Schedule [...

Definitions Core expressions include Additional Service, Anti-bribery Laws (including BA 2010), Codes of Practice, Legislation, Occupier, Occupation Agreement, Services, Termination Event, VAT and Working Day. Appointment and Duties The Owner appoints an independent Property Manager to provide the Services with appropriate skill, care and diligence, in line with good estate management and the Codes of Practice, always acting in the Owner’s best interests. Authority and Fees The Property Manager may act for the Owner within approved limits, engage specialists where reasonably necessary, and must obtain consent for material matters. Fees track recoverable service charge provisions; Additional Services are separately agreed and all fees are subject to VAT against a valid invoice. Insurance and Liability The Property Manager maintains professional indemnity and public liability insurances and indemnifies the Owner for losses arising from any breach, negligence, misconduct or default. Termination and Handover The Owner may terminate on a Termination Event. Upon ending, the Property Manager must transfer accounts, documents and information, assign...

Clause 2.27.1 of the JCT Standard Building Contract 2011 (SBC) Clause 2.27.1 provides that where it becomes reasonably clear that progress of the Works, or any Section, is delayed or likely to be delayed, the Contractor must at once notify the Architect/Contract Administrator, explaining the material circumstances, including the reasons for the delay, and in that notice point out any occurrence he regards as a Relevant Event... Lexis+® UK practical point: the same wording appears in the Standard Building Contract 2016 (cl 2.27.1) and in the JCT Design and Build Contract 2011/2016 (cl 2.24.1), save that in the design and build forms the addressee ‘Architect/Contract Administrator’ is replaced by the ‘Employer’... Two principal questions arise when deciding whether a notification clause such as SBC clause 2.27.1 has been properly observed: what does the obligation to give notice ‘forthwith’ encompass, and is the contractor obliged to meet this condition? what level of notification/particulars of the ‘material circumstances’ must be provided? ...

Section 21 of the Landlord and Tenant Act 1985 (LTA 1985) Under section 21 of the Landlord and Tenant Act 1985 (LTA 1985), a residential tenant may require their landlord to furnish a summary of costs relating to service charges for the last accounting year; if accounts are not kept by accounting years, the previous 12 months. The landlord is obliged to comply with the tenant's request within one month, in any event, or, if later, within six months of the end of the relevant 12‑month accounting period...