Published on: 03 February 2025
Published by a LexisNexis Ireland - Banking & Financial Services expert
ESMA has released a consultation paper on draft regulatory technical standards (RTS) for loan‑originating alternative investment funds (LO AIFs) under the AIFMD. Under AIFMD II, LO AIFs are, as a rule, closed‑ended. By way of exception, an LO AIF may operate on an open‑ended basis if the AIFM can demonstrate to its competent authority that the fund’s liquidity risk management framework is consistent with its investment strategy and redemption terms. AIFMD II assigns ESMA the task of drafting RTS that specify the conditions LO AIFs must satisfy to preserve an open‑ended structure.
Under AIFMD, those conditions must include:
These conditions must also reflect the nature of the underlying loan exposures, the average time to repayment of the loans, and the overall granularity and composition of LO AIF portfolios. ESMA’s consultation is the initial step in developing the draft RTS and outlines proposals on their content on which ESMA is seeking views...
When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
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...
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