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This Practice Note outlines the law concerning criminal recklessness. The subjective test for recklessness Certain statutory and common law offences allow the prosecution to prove mens rea through ‘recklessness’. Put simply, recklessness is where the accused takes an unjustified risk that results in unlawful harm or damage. The House of Lords in R v G reaffirmed the subjective approach to recklessness. Before R v G, two distinct tests were used, depending on the offence charged: Subjective recklessness from R v Cunningham: the prosecution had to establish that the accused personally foresaw the risk. Objective recklessness from R v Caldwell: the prosecution only needed to show that the risk would have been obvious to a reasonable person, without proving the accused themselves foresaw it. In R v G, the House of Lords concluded that the objective test could operate unfairly where a defendant did not foresee the
This Practice Note examines the remedy of rescission, explaining when and in what manner a contract can be unwound (at common law, in equity and under statute) and thereby terminated and brought to an end. It covers the consequences and effects of rescission, the principal grounds for setting aside an agreement (misrepresentation, mistake, undue influence, duress, non‑disclosure, fiduciary misdealing and bribery) and the main obstacles to claiming rescission—affirmation, the intervention of third‑party rights and the impossibility of restitution. For further guidance on rescission in the context of misrepresentation, see Practice Note: Misrepresentation—rescission as a remedy. There are many ways in which a contract may reach its end; see: Terminating contracts—how and when a contract ends—overview for a brief and accessible summary, with links to the related further practical guidance, including Practice Note: Termination and expiry of contracts. For a table
What is a res judicata? A res judicata is a determination by a court or tribunal with jurisdiction over the cause of action and the parties, which finally disposes of the issues decided so they cannot be litigated again by those bound, save on appeal. Final judgments entered by default or by consent fall within this concept, whereas rulings on purely procedural points and any decision lacking finality do not. The doctrine’s aim is to bring litigation to an end and shield parties from being harassed by the same dispute twice. in personam—binds the parties and their privies in rem—binds all persons, privy or otherwise (ie a judgment binding the whole world) A party may rely on res judicata: as an estoppel to defeat an opponent’s claim or defence; and/or as the basis of their own claim or
The offence of causing grievous bodily harm with intent Wounding or causing grievous bodily harm (GBH) with intent can be tried solely in the Crown Court on indictment. Elements of the offence Under the Offences against the Person Act 1861 (OATPA 1861), the prosecution must establish that the defendant unlawfully and maliciously: wounded with the intention of causing GBH, or caused GBH with that intention, or wounded intending to resist or prevent the lawful arrest or detention of any person, or caused GBH intending to resist or prevent the lawful arrest or detention of any person ‘Unlawfully’ and ‘maliciously’ Unlawfully The wounding or causing of GBH must be unlawful. Such conduct may be lawful if used: in self-defence in defence of another in defence of property for the prevention of crime where the victim gave express or implied consent For further information on these defences, see below:
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Loan market and developments The following overview does not reflect any outcomes or shifts arising from a potential Brexit. A decade on from the crisis, Belgium’s financial industry has been reshaped. The banking sector has shrunk, largely due to restructuring among institutions that benefited from state aid. Lenders have reverted to more traditional models, prioritising domestic credit provision and deposit-based funding. The credit cycle is gaining momentum, supported by the economic upturn and exceptionally favourable financing conditions. Overall, corporate lending has continued to expand, whereas growth in household borrowing has levelled off. As reported in the National Bank of Belgium’s Financial Stability Report 2018, annual corporate loan growth reached 5.8% in February 2018, versus 4.9% for households. With better macroeconomic conditions and low interest rates stimulating private-sector demand for debt, loans to non-financial companies and to households represented the majority of the €24bn...
Banking & Finance—checklists and flowcharts Lending Amending a facility agreement—checklist: This checklist identifies matters to verify when revising a facility agreement from the lender’s standpoint, and ensuring compliance with agreed terms and market standards. Drafting a compounded risk-free rate loan: checklist: Presented in table format, this checklist highlights considerations when drafting or updating a facility agreement to operate on a compounded risk‑free rate ( RFR) such as SONIA. It explains the intent of key provisions, flags issues to weigh up, and offers drafting pointers for practitioners. Drafting a confidentiality agreement (disclosing party)—checklist: Use this checklist when preparing a confidentiality agreement (also referred to as a non-disclosure agreement or NDA) where you are the party sharing confidential information under the agreement. Reviewing a confidentiality agreement (receiving party)—checklist: Use this checklist when assessing a...
Banking & Finance—key dates and future developments tracker: 2026 and beyond This Banking & Finance key dates and future developments tracker is designed to help banking and finance lawyers monitor forthcoming milestones, timelines and horizon scanning. It also captures developments in other Practice Areas where they are pertinent to banking and finance specialists, although some Practice Areas publish their own dedicated trackers. Note that it does not catalogue every consultation on financial services regulation (including derivatives and capital markets). Rather, it spotlights those matters the Banking & Finance team view as most pertinent to practitioners and to facility documentation. For wider coverage of UK and European Union ( EU) financial services regulatory change, see Practice Note: Trackers and Timelines—financial services. For a focused summary of the latest on LIBOR, see Practice Note: LIBOR developments tracker. This tracker also excludes cases. For updates on the...
Banking & Finance case tracker Last updated on 1 March 2026. The Banking & Finance case tracker resource outlines the current position of matters, including appeals, that the Banking & Finance team has covered from January 2013 onwards. Lending For details on leading authorities concerning the interpretation of finance documents, consult Practice Note: Construction of finance documents—key cases......
Banking & Finance—key dates and future developments tracker: 2023 [ Archived] This Banking & Finance key dates and future developments tracker is designed to assist banking and finance lawyers in monitoring forthcoming developments, critical dates and undertaking horizon scanning. It also captures future developments from other Practice Areas where these are judged relevant to banking and finance lawyers, although several other Practice Areas publish their own trackers. Note that this tracker does not attempt to include every consultation connected to financial services regulation (derivatives and capital markets regulation included). Instead, it spotlights matters the Banking & Finance team considers most pertinent for banking and finance practitioners and for facility documentation. For complete coverage of European Union ( EU) and US financial services regulatory developments, refer to Practice Note: Trackers and Timelines—financial services. That resource provides a comprehensive list of all timelines produced by the...
Like their conventional peers, takaful operators (ie Islamic insurance providers) employ several channels to distribute their Shari’ah‑compliant life insurance (known as family takaful) and their non‑life insurance (known as general takaful) to the public. These routes include the operator’s direct sales force, independent insurance brokers, and e‑tools. Another channel is bancatakaful. What is bancatakaful? Bancatakaful is the distribution of takaful products through banks— Islamic or conventional—so long as the activities conform to Islamic principles ( Shari’ah). In essence, the bank acts as the takaful operator’s agent, allowing the operator to utilise the bank’s network. The key reasons takaful operators use banks as distribution partners are to: tap the banks’ existing customer base align with reputable banks and benefit from their expertise in product distribution maintain smaller direct sales teams, as bank staff sell the takaful products to the banks’ customers maintain smaller...
Terminology In bai salam arrangements, the purchaser is known as the rabb-us-salam, the vendor as the muslam ilaih, the agreed price as the ra’s-ul-mal, and the underlying item as the muslam fih. Owing to the historic foundations of Shari'ah principles—and the jurisprudence informing bai salam—the language largely centres on commodities, particularly within agriculture. As contemporary Shari'ah structures have broadened to suit a wider range of situations, this Practice Note will therefore use ‘assets’ rather than ‘commodities’. It should be noted that not every asset is suitable for a bai salam arrangement (see the section on ‘ Excluded assets’ below). The roots of bai salam reach back to the earliest Islamic era, created to assist farmers and agricultural labourers who needed funds to cultivate crops and deliver the harvest. Bai salam is also commonly termed bay salam, bai al-salam, bay al-salam, or simply salam. Impact of...
Non-compliance with emissions trading schemes may lead to civil penalties, operational prohibitions or the detention of aircraft. Accordingly, financiers need a clear grasp of the duties imposed on aircraft operators (and, in some cases, owners) by the applicable schemes and of the accompanying enforcement tools, so that these risks are properly catered for in their finance documentation. This Practice Note sets out the principal components of the leading emissions trading regimes relevant to aviation finance deals. It addresses: the EU emissions trading system ( EU ETS) the Carbon Offsetting and Reduction Scheme for International Aviation ( CORSIA) (and its integration into the EU ETS) the UK emissions trading system ( UK ETS) Introduction to the key emissions trading schemes The EU ETS, CORSIA and the integration of CORSIA into the EU ETS The relationship between these regimes, including how CORSIA is...
Automated financial product advisers, often called robo-advisers, are software-driven platforms that deliver financial planning with minimal or no human input. They are appearing across the financial services sector, supporting customers in selecting investments, banking products and insurance options... This Practice Note considers the following: Scope and applications of robo-advisers Advantages and disadvantages Risk creation versus risk mitigation Regulatory framework Recent FCA Reviews and Key Findings Legal issues relating to advice provided by robo-advisers Views from the market Next phase of robo-advice Robo-advice is underpinned by artificial intelligence ( AI), creating an opportunity for financial institutions to evolve business models that better meet client needs. Banks recognise that they must organise, analyse and use data effectively to reshape and refine those models. This is AI’s promise: improved client experience, efficient risk management and compliance, and greater...
This Practice Note highlights key authorities and pertinent material on assignment. The cases are arranged by theme and include: Assignment—general points Assignment—legal (statutory) or equitable Significance and advantages of giving notice to the debtor Standing to sue the debtor where the assignment is equitable Impact of a prohibition or restriction on assignment Assignment—general points Headings: Names of parties; Judgment date; Case summary; Relevant content. Names of parties: Abraaj Investment Management v Kes Power [2026] EWHC 65 ( Comm) Judgment date: 16 January 2026 Neutral citation: [2026] EWHC 65 ( Comm) Case summary and relevant content: The judgment examines assignment principles in the sphere of secured lending. In particular, it explains how estoppel may assist a lender confronted with defective security—here, a receivable was purportedly assigned by a group entity that had no title to it. The court also ranges over...
This Practice Note sets out a concise overview of the financing structures typically used by UK asset-based lenders and highlights the key English law legal issues encountered when funding receivables (often called book debts) in the asset-based lending market, together with one or more of the following assets: inventory (also referred to as stock) plant and machinery (also referred to as equipment) real estate cashflow loan It also summarises common asset-based lending structures and the principal issues to consider when arranging asset-based financing. Key features of asset-based lending ABL is senior, secured lending primarily intended to fund a trading business’s working capital. Advances are determined by the realisable value of defined classes of a borrower’s assets, collectively known as the borrowing base. ABL is often event-led, offering flexible access to liquidity during periods of transition, such as an...
What is asset finance? Asset finance describes a way of funding the acquisition of specific tangible, movable assets. The structure selected will depend on the character of the asset being acquired, ranging from lower-cost, smaller items used in the day-to-day operation of a business (for example, a photocopier) to very high-value, large-scale assets with a long useful economic life (such as an aircraft or a ship). This breadth reflects the range of assets a business may finance. Funding can be arranged for a single, identified asset or for an entire portfolio of assets. A defining attribute of an asset finance transaction is that the asset itself, which is being financed, acts as the primary security offered to the financier. The income produced through using the asset will repay the borrowing and meet the interest charges over...
The legal technology landscape is changing at pace, spawning a fresh vocabulary of AI-related terms and expressions. For those who are not product developers or software engineers, it is useful to clarify what these phrases mean. This Practice Note is intended to help legal professionals gain a clearer grasp of key Artificial Intelligence ( AI) concepts. For further detail on the technology underpinning AI, see Practice Note: Artificial intelligence and machine learning—an introduction to the technology. The Basics Algorithm: a coded series of instructions within software that resolves a problem or executes a computation. Artificial Intelligence ( AI): computer software and systems capable of exhibiting human intelligence. They can learn, plan, reason, or handle natural language as they operate, rather than relying only on pre-programmed tasks; for example, speech recognition, computer vision, translation between natural languages, and other mappings of inputs. In the UK and EU,...
ARCHIVED: This Practice Note has been archived and is not maintained. STOP PRESS: The UK’s prospectus framework, once anchored in the EU Prospectus Regulation, has been superseded by the Public Offers and Admission to Trading Regulations 2024 ( POATRs). Detailed admission to trading requirements now reside in the Financial Conduct Authority ( FCA) admission rules. The FCA released its final rules ( PS25/9) on 15 July 2025, with the new regime taking effect on 19 January 2026. In October 2025, Primary Market Bulletin 58 outlined guidance on the timing and approval of prospectuses (and supplementary prospectuses) and confirmed the removal of Listing Particulars as an admission document under the new framework. For further information on the key elements of the POATRs relevant to debt capital markets, see: The UK Prospectus Regulation—essentials [ Archived]— Reform of the UK prospectus regime... UK Prospectus Regulation— Level 2...
ARCHIVED: This Practice Note is archived and no longer maintained. STOP PRESS: The UK prospectus framework, previously derived from the EU Prospectus Regulation, has been superseded by the Public Offers and Admission to Trading Regulations 2024 ( POATRs), with detailed admission-to-trading requirements now contained in the Financial Conduct Authority ( FCA) admission rules. The FCA issued its final rules ( PS25/9) on 15 July 2025, and these rules took effect on 19 January 2026. In October 2025, the FCA released Primary Market Bulletin 58 which, among other matters, provided guidance on the timing and approval of prospectuses (and supplementary prospectuses) and confirmed the removal of Listing Particulars as an admission document under the new framework. For further information on the POATRs’ key elements relevant to the debt capital markets, see: Reform of the UK prospectus regime. This Practice Note focuses on debt capital markets and...
ARCHIVED : This Practice Note is archived and no longer updated. For the 2020 iteration of the rule, refer to: Incoterms® 2020 Rules— CPT Carriage paid to The ICC materials are reproduced here with the authorisation of ICC Publishing SA. These and additional ICC titles can be obtained from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France, and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, as well as www.iccwbo.org. Incoterms® 2010 rules were superseded by Incoterms® 2020 rules, effective 1 January 2020. For the CPT Incoterm in force from 1 January 2020, consult Practice Note: Incoterms® 2020 Rules— CPT Carriage paid to. CPT (insert named place of destination) Incoterms® 2010 Guidance note This rule is suitable regardless of the chosen mode of transport and equally applies when multiple modes are utilised within a single...
ARCHIVED : This Practice Note has been archived and is no longer maintained. Rationale In any cross-border matter that triggers a formal insolvency process, practitioners examine the potential jurisdictions for commencing proceedings, weighing the pros and cons of each option. The doctrine of centre of main interests ( COMI) within Regulation ( EU) 2015/848 ( OJ L141 5.6.2015 p 19), the Recast Regulation on Insolvency [ EU Recast Regulation on Insolvency], together with the UNCITRAL Model Law on Cross- Border Insolvency (see UNCITRAL Model Laws—overview), means that, where time allows, advisers may engage in forum shopping to shift a company’s COMI (wherever it is incorporated) to a jurisdiction offering a more advantageous restructuring or insolvency framework (see Practice Note: Forum shopping and practical ways to move COMI). European states may accordingly adapt their legislation, in particular to enable stays, cram down and debtor in...
ARCHIVED: This Practice Note is archived and is no longer maintained. It offers a synopsis of new and revised materials issued by the Futures Industry Association ( FIA). The summary was reviewed on a rolling basis and spans publications from January 2018 onwards. Relevant content from this Practice Note also appears in associated Banking & Finance Practice Notes. Every FIA update cited here first appeared on the FIA website (full access requires a subscription). Commentary and linked materials are supplied by Banking & Finance. Abbreviations used throughout are set out below for quick reference: ABA — American Bankers Association AFME — Association for Financial Markets in Europe AIMA — Alternative Investment Management Association Assosim — Association for Financial Market Intermediaries BCBS — Basel Committee on Banking Supervision Bo E — Bank of England BPI — Bank Policy...
ARCHIVED: This Practice Note is archived and not maintained. For the 2020 version of the rule, consult Incoterms® 2020 Rules— EXW Ex works. The ICC publications appear here with permission from ICC Publishing SA. These and other ICC publications are available from: ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom www.iccwbo.org Incoterms® 2010 rules were superseded by Incoterms® 2020 rules on 1 January 2020. Under the 2020 rules, the DAT term has been replaced by DPU; see Practice Note: Incoterms® 2020 Rules— DPU Delivered at Place Unloaded. DAT (insert named terminal at port or place of destination) Incoterms® 2010 Guidance note This rule applies regardless of the chosen mode of carriage and is equally suitable where multiple modes are used. ‘ Delivered at Terminal’ means the seller completes delivery when the goods, once...
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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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