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R (Greyhound Board of Great Britain Ltd) v Welsh Ministers [2026] EWHC 670 (Admin) What are the practical implications of this case? The ruling reinforces the constitutional divide between the courts and the legislature. It explains that the scheme and framework of the Government of Wales Act 2006 (GWA 2006) embody that separation of powers, and that any judicial attempt to recognise and enforce a common law obligation on Welsh Ministers to consult prior to introducing legislation in the Senedd would trespass upon that boundary. This is not a departure from established principle; case law has already upheld comparable rules for lawmakers in Scotland and at Westminster. However, this is the first express confirmation of the position for Welsh lawmakers, and the first time this dimension of the GWA 2006 has been analysed in such depth. The court examined earlier
The solution arrived through the United Nations Compensation Commission (UNCC), a quasi‑judicial body handling mass claims, created under UN Security Council Resolution 687. By addressing environmental harm—most notably via its ‘F4’ claim class—the UNCC set a seminal benchmark shaping how international law and contemporary arbitral panels allocate financial responsibility for wartime ecological devastation. With present-day wars in areas such as Eastern Europe and the Middle East bringing dam breaches, strikes on chemical facilities, and the burning of farmland, the UNCC’s legacy endures as an essential reference point for states, global investors, and companies engaged in post‑conflict arbitration. The F4 claims: Quantifying the unquantifiable Prior to the 1990s, mechanisms in international law for war reparations overwhelmingly favoured property loss, foregone earnings, and bodily injury. The natural world was commonly treated as a mute, non-compensable victim of armed hostilities...
Understanding the farming business as a business Many farms still use long-standing structures that arose by habit, not strategy. Sole traders, informal partnerships and outdated partnership deeds are common. While once effective, such setups can cause major issues around succession, tax planning and involving the next generation. A corporate team can take a fresh, business-led view of the farm, asking: Who owns the land and other critical assets? Who manages daily operations? Who carries the risk and who enjoys the return? What is the enduring plan for succession? From this review, the team can confirm whether the current setup is fit for purpose or if an alternative — for example an updated partnership agreement, a company, a limited liability partnership, or a blended model — would better meet the family’s aims. Tax efficiency through joined-up advice Tax sits at the centre of most
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GASL Ireland Leasing A-1 Ltd GASL Ireland Leasing A-1 Ltd did not, in fact, lose the aircraft and therefore cannot claim its value under two insurance policies, according to an amended High Court defence dated 12 March 2024 filed by an insurer and two Lloyd’s of London syndicates, now made public. The defence states this is evident because lessors of aircraft leased to Russian airlines subsequently entered into insurance settlements whose purpose and effect were to sell, dispose of and transfer the full legal and beneficial title to the leased aircraft to Russian entities for market value. The insurers ( Tokio Marine Kiln Syndicates 510 and 1880, and HDI Global Specialty SE) contend that the policies respond only to physical damage to the aircraft or to a ‘loss by deprivation of possession suffered by the lessee’. The filing further asserts that the cover does not...
Justice Secretary, Alex Chalk, has said the move is intended to end the 'murky world of non-disclosure agreements' Under plans to curb misuse of NDAs, those bound by confidentiality clauses would still be free to raise alleged criminality with key professionals and crime-fighting bodies. On 28 March 2024, Alex Chalk set out an ambition to end the ‘murky world’ where such agreements are used to conceal wrongdoing, adding that the reforms will make clear in law that gagging orders cannot lawfully be wielded against victims to block justice or silence them. Lawyers and the police Medical practitioners and counsellors Advocates and other organisations that investigate crime The change will not bite immediately; legislation will be brought forward ‘when parliamentary time allows’, the Ministry of Justice said. The Mo J also confirmed the bill will not capture NDAs signed before it secures royal...
High Court Judge Andrew Henshaw rejected bids to stay 78 claims brought by aircraft lessors seeking compensation for jets retained in Russia following Vladimir Putin’s assault on Ukraine, finding the leasing companies had demonstrated compelling grounds for the cases to be heard in the UK rather than in Russia... Henshaw J considered it highly improbable that the claimants would receive a fair hearing in Russia, which on its own “is a strong reason” to refuse a stay. He added that allowing the litigation to proceed there would inevitably proliferate parallel proceedings and markedly increase the risk of contradictory findings on core questions. He also noted a degree of danger of personal attacks on individuals who would ordinarily attend trial, further reinforcing the conclusion that robust reasons exist to deny a stay... The Russian state acted against aircraft leased from overseas owners after Western...
Banking & Finance— March 2024 case round-up Re: Project Lietzenburger Straße Holdco S.À. R. L. [2024] All ER ( D) 20 ( Mar) — Restructuring plan—sanction. The Chancery Division considered whether a restructuring plan should be sanctioned. It determined that the scheme, in its present form, could not be approved because the court lacked the power to do so. Moreover, the court declined to sanction any amended iteration. To exercise, or purport to exercise, an inherent jurisdiction to alter the plan would have transformed a proposal the court had no power to sanction into one it did, which it refused. For further detail on the restructuring plan, see Practice Note: Part 26A restructuring plan deal debrief— Project Lietzenburger Strasse Holdco SÀRL. Bluestone Mortgages Ltd v Stoute [2024] All ER ( D) 46 ( Mar) — Debt Respite...
What is the background to the current changes? The CA 2022 secured Royal Assent on 24 February 2022. It followed the Government’s 2021 response to the Law Commission’s ‘ Technical Issues in Charity Law’ report, first issued in 2017. Aimed at removing technical legal hurdles and improving the efficient running of charities, the CA 2022 has been rolled out in stages. Phase one arrived in October 2022, phase two in June 2023, and a third instalment, containing most of the remaining provisions, took effect on 7 March 2024. Each phase has delivered discrete reforms towards the same objective. What is the impact of the implementation of the third tranche of measures in the Charities Act 2022? While this third wave may not revolutionise the sector, it can deliver meaningful advantages depending on a charity’s operations, so taking time to understand the changes and refreshed guidance is...
In this issue: Sustainable finance and ESG round–up Economic Crime and Corporate Transparency Act 2023 LIBOR and benchmarks Lending Shipping finance Project finance Debt capital markets Derivatives Structured products and securitisation Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG round–up Sustainable finance and ESG weekly round–up For a round-up of this week’s Sustainable finance and ESG developments, see: Sustainable finance and ESG weekly round–up—28 March 2024. Economic Crime and Corporate Transparency Act 2023 Economic Crime and Corporate Transparency Act 2023 ( Consequential, Supplementary and Incidental Provisions) Regulations 2024 SI 2024/410: These Regulations amend primary and secondary legislation that is consequential, supplementary or incidental to the commencement of specified provisions of the Economic Crime and Corporate Transparency Act 2023 ( ECCTA 2023). They take effect when ECCTA 2023, s 1 comes into...
EU developments ESMA consults on EU Green Bond RTS and ITS The European Securities and Markets Authority ( ESMA) has opened consultation on proposed regulatory technical standards ( RTS) and implementing technical standards ( ITS) concerning the registration and oversight of external reviewers pursuant to Regulation ( EU) 2023/2631, the EU Green Bond Regulation ( Eu GB). Submissions are requested by 14 June 2024......
High Court Judge Julia Dias ruled in favour of Delos Shipholding SA Owner of the Win Win, Delos Shipholding SA, together with the vessel’s commercial manager, technical managers and mortgagee, had brought proceedings against six insurers after cover was declined. Dias J dismissed the defence that an exclusion for customs or quarantine detentions permitted avoidance, concluding the arrest and detention stemmed from a governmental policy shift to assert sovereignty over waters, and that the master had no reason to think he was outside international waters. As the shipmaster had neither wilfully breached the law nor elected to anchor within Indonesian territorial seas, the judge held that indemnity should not have been withheld. Commenting on the circumstances, Dias J observed that the Indonesian episode was regrettable and that the vessel’s detention could be described as somewhat unlucky; the practice of detaining ships for alleged illegal...
Industry association Insurance Europe and the CRO Forum, a risk management firm for the insurance industry, responded on 19 March 2024 to EIOPA’s industry consultation on proposed measures to curb misleading claims about the environmental credentials of financial products. The insurers urged consistent application of supervisory obligations, better co-ordination between directives and solutions to address the limited availability of data. ‘ Establishing a shared interpretation of sustainability statements is crucial for enabling competent authorities to confront greenwashing effectively, while safeguarding consumers and providing legal clarity for insurers,’ Insurance Europe and the CRO Forum noted. EIOPA has outlined new sustainability rules that all insurance and pension providers throughout Europe are required to observe in full. These rest on four core principles in practice. The first is that companies should......
UK developments WTW to unveil a transformative new climate finance solution Insurance broker WTW stated on 18 March 2024 that it is currently developing an insurance facility intended to strip out risks tied to lending to private companies, aiming to shield them from threats associated with climate change. For further details, see: WTW to launch game-changing climate finance solution. EU developments EU Corporate Sustainability Due Diligence Directive—what’s the current position right now? After months of political wrangling, Member States ultimately adopted a substantially revised version of the EU Corporate Sustainability Due Diligence Directive on 15 March 2024......
In this issue Sustainable finance and ESG round–up Social Housing ( Regulation) Act 2023 Levelling-up and Regeneration Act 2023 Football Governance Bill Finance ( No 2) Bill 2024 Lending Secondary trading Security Real estate finance Sustainable finance Debt capital markets Derivatives Regulation for banking lawyers Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG round–up Weekly round–up: For a snapshot of this week’s Sustainable finance and ESG developments, see Sustainable finance and ESG weekly round–up—21 March 2024. Social Housing ( Regulation) Act 2023 Social Housing ( Regulation) Act 2023 ( Consequential and Miscellaneous Amendments) Regulations 2024, SI 2024/399: These Regulations make consequential changes across primary and secondary legislation flowing from the Social Housing ( Regulation) Act 2023. They address the framework for social housing...
Background On 23 February 2022, the Commission unveiled its proposal for a new Directive on corporate sustainability due diligence. The measure seeks to create a corporate sustainability due diligence duty, obliging companies to conduct checks across their supply chains to identify and then prevent, mitigate, or stop actual and potential adverse effects of their activities on human rights and the environment. The Corporate Sustainability Due Diligence Directive ( CSDDD) sits within a broader legislative framework on sustainable corporate governance alongside the EU Corporate Sustainability Reporting Directive ( Directive ( EU) 2022/2464), and complements measures in the EU Sustainable Finance Disclosure Regulation ( Regulation ( EU) 2019/2088) and the EU Taxonomy Regulation ( Regulation ( EU) 2020/852). Which companies are in scope? As provisionally agreed in December 2023, the CSDDD was initially intended to apply to EU companies with more than 500 employees and a net...
WTW Resilience Wrapper The broker stated it will secure funding from the US Agency for International Development ( USAID) to create a climate-resilient insurance solution intended to unlock further investment from the private sector. WTW will set up a facility enabling the US International Development Finance Corp to provide an insurance product that shields its direct loans to private companies from climate-related shocks. This parametric arrangement, called the WTW Resilience Wrapper, is a form of cover that addresses the probability of a specific event happening, rather than compensating for any actual loss that has occurred. WTW noted, for instance, that if an agreed triggering event takes place (such as a cyclone or flood)......
Current position Regarding certain affected security, we note an entry now visible in the filings section of the Companies House register stating that material once regarded as part of the register is no longer treated as such by the registrar. Although the charges register has also been updated—so the relevant registered security once more appears as outstanding—there is no clear connection drawn between that note, the amendments to the charges register, and the earlier incorrect submission (evidence of which has likewise been removed). To any third party—even directors of the relevant company or the security holder—it is not immediately clear what this new entry pertains to unless they were already aware that the unauthorised filing had been accepted. Since the issue was identified, the registrar has made no public statement about the incident, leaving uncertainty over what actually occurred, why it occurred, and how many...
In this issue: Sustainable finance and ESG round–up Aviation finance Sustainable finance Debt capital markets Derivatives Fintech Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG round–up Sustainable finance and ESG weekly round–up For this week’s highlights in Sustainable finance and ESG, see: Sustainable finance and ESG weekly round–up—14 March 2024. Aviation finance More insurers sued for US$44m over plane stranded in Russia. An Irish aircraft operator has widened its claim by adding 24 reinsurers, seeking to recover US$44m for the loss of an aircraft leased to a Russian carrier and retained there following the invasion of Ukraine. For more information, see News Analysis: More insurers sued for US$44m over plane stranded in Russia. Sustainable finance FCA's new greenwashing rules lack clarity, city firms warn. City firms are urging the Financial Conduct Authority to refine the draft...
UK developments FCA's new greenwashing rules lack clarity, city firms warn Law360 reports that City firms are urging the Financial Conduct Authority ( FCA) to amend its draft guidance for the forthcoming anti-greenwashing regime, seeking the removal of key uncertainties and clearer direction on the breadth of application. See: FCA's new greenwashing rules lack clarity, city firms warn. Useful information For more on sustainable finance and ESG, consider the following resources: Overviews: Sustainable finance and ESG—overview; Types of ESG finance—overview; Reporting, disclosure and regulatory issues in sustainable finance transactions—overview. Practice Note: Introductory guide to sustainable finance for banking and finance lawyers. Practice Notes: Sustainable finance—recent news; Sustainable finance and ESG—timeline. Practice Note: Sustainable finance and ESG—horizon scanner. ......
EU developments European Commission adopts RTS on the disclosure of information related to the principal adverse impacts on sustainability factors under the Securitisation Regulation The Commission has issued a Commission Delegated Regulation laying down regulatory technical standards ( RTS). These RTS specify, for simple, transparent and standardised ( STS) non- ABCP traditional securitisation, and for STS on-balance-sheet securitisation, the content, methodologies and presentation of information concerning the principal adverse impacts of the assets financed by the underlying exposures on sustainability factors, in line with Regulation ( EU) 2017/2402 (the Securitisation Regulation). See: LNB News 05/03/2024 59. Source: Commission Delegated Regulation ( EU) …/.........
Last week there were whispers, and that is all they were, as Companies House had not issued any public notice; yet, as the weekend unfolded and subsequent coverage has shown, it appears there have been at least 800 filings made in error. No clear pattern links these filings. The businesses involved span diverse sectors and have different directors, advisers and lenders, which has made it challenging to piece together what occurred, why it happened, and which companies are implicated. We have reviewed the list of affected firms that was supplied to UK Finance and, on a brief look,......
Carlyle Aviation Management Ltd and the lessor Sasof III ( A3) Aviation Ireland DAC indicated, in an amended claim form dated 22 February 2024 that has only recently been made public, that a further two dozen insurers are also accountable for the funds in dispute. UMB Bank NA, the lender that financed the aircraft’s purchase and operation, is likewise a claimant in the case. The claimants first brought proceedings in February 2023 against Convex Insurance UK Ltd and Liberty Corporate Capital Ltd, seeking to recover US$44m linked to a 2006 Airbus A330 leased to the Russian airline I- Fly. They have since expanded the claim to encompass the two dozen additional reinsurers, covering various syndicates and firms, including Arch Insurance ( UK) Ltd......
In this issue: Sustainable finance and ESG round–up Spring Budget 2024 Banking and finance case round-up UK and international sanctions Economic Crime and Corporate Transparency Act 2023 LIBOR and benchmarks Security Guarantees Sustainable finance Derivatives Regulation for derivatives lawyers Structured products and securitisation Restructuring Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG round–up Sustainable finance and ESG weekly round–up: for this week’s digest of developments, see Sustainable finance and ESG weekly round-up—7 March 2024. Spring Budget 2024—key Banking & Finance announcements On 6 March 2024, the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, outlined a series of steps of note for banking & finance lawyers. These include extending the Recovery Loan Scheme—now the Growth Guarantee Scheme—until the end of March 2026; consulting on the UK implementation of the Organisation for Economic Co-operation and Development Cryptoasset Reporting Framework and changes to the Common Reporting Standard; and bringing...
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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...
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 ...
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 ]...
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