Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Key definition
Abandonment definition

What does Abandonment mean? Abandonment describes, in pensions practice, steps by an employer to sever or materially reduce its ongoing support for an occupational pension scheme—typically a defined benefit (DB) scheme—so the scheme becomes effectively independent of its sponsor (for example, by removing or replacing the statutory employer with a weak vehicle, leaving no meaningful employer covenant). The term is not defined in legislation or case law; it is a descriptive expression used in regulatory guidance and practitioner discourse. Across England & Wales, Scotland and Northern Ireland, such activity engages The Pensions Regulator’s anti-avoidance regime and may warrant seeking clearance. TPR can issue...

Read More Right Arrow

UK CMA merger inquiry: TopCashback/Quidco anticipated acquisition abandoned; phase 2 cancelled (cashback websites)

Practice notes
imgtext

CASE HUB ARCHIVED—this archived case hub reflects the position at the date of the Abandonment of the transaction of 21 March 2019; it is no longer maintained. See further, timeline.

Case facts

Outline: UK merger review of the proposed Acquisition by Top Online Partners Group Limited of Maple Syrup Group Limited and its subsidiaries. These two companies operate the UK’s largest cashback websites. Cashback services let customers reclaim Money on certain online purchases and provide retailers with a channel to advertise and publicise cashback discounts.

Latest developments

On 21 March 2019, the CMA formally cancelled its phase 2 investigation after the parties chose to abandon the transaction.

Parties

Top Online Partners Group Limited (TopCashback): operates an online platform supplying cashback services. Founded in 2003 and headquartered in Stafford, UK. Cashback services allow shoppers to receive money back on certain types of online shopping and enable retailers to advertise and promote cashback discounts.

Maple Syrup Group Limited (Quito): a UK-based cashback site with offices in Sheffield and London.

Market(s)

  • The supply of money-saving offers
...
To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.
Web page updated on 22/05/2026

Popular documents

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Read More Right Arrow

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Read More Right Arrow

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Read More Right Arrow

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...

Read More Right Arrow