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Blue Bonds: Making a splash in the Capital Markets
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
Virgin Media case: Further joint statement issued by industry working group
United Kingdom | Publication | January 2025
On December 17, 2024, a further joint statement was published about the potential impact of the Court of Appeal decision in the Virgin Media case which stated that certain contracted-out pension rights encompassed those relating to future service as well as past service.
The Association of Consulting Actuaries, Association of Pension Lawyers and Society of Pension Professionals formed a working group following the High Court judgment. They have maintained contact with the DWP to address the issues pension schemes face in managing the consequences of the decision.
The joint statement confirms that the working group still believes that the Government should make regulations that would "enable the validation retrospectively of any amendment that is held to be void solely because either a written actuarial confirmation was not received before the amendment was made, or where such a confirmation cannot now be located". The form of the regulations continues to be discussed with the DWP.
The working group hopes to provide an update "in the New Year".
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Marine Money Week New York 2025
We are delighted to be participating in Marine Money Week New York 2025. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
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The parallel imposition requirement in exclusive distribution systems: key takeaways from the CJEU’s ruling in Beevers Kaas
On 8 May 2025, the Court of Justice of the European Union (the CJEU) delivered its ruling in case C-581/23 (the Ruling), providing guidance on one of the conditions for an exclusive distribution agreement to benefit from the block exemption under Article 4(b)(i) of the 2010 Vertical Block Exemption Regulation (the VBER)1, notably the so-called ‘parallel imposition requirement’.
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