Award Definition

GLOSSARY

Published by a ��Ӱ�� Arbitration expert

What does Award mean?

Generally, a final, binding decision of the arbitral tribunal on the substantive dispute between the parties. Arbitral awards may also be interim (ie they have temporary, not final, effect) and partial (ie deciding one or more, but not all, of the issues in the dispute on a final, binding basis).

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Checklist for compromises of FCA-regulated entities: information requirements

Checklist for compromises of FCA-regulated entities: information requirements The Financial Conduct Authority (FCA) is the conduct regulator for financial services firms and financial markets in the United Kingdom. It has a duty under section 1B of the Financial Services and Markets Act 2000 (FSMA 2000) to pursue certain objectives, one of which is the consumer protection objective. The FCA lists its statutory objectives as to secure an appropriate degree of protection for consumers and to protect and enhance the integrity of UK financial markets, with a view to reducing the number of proposed compromises that they do not consider to be appropriate (see FG22/4, para 1.2). On 5 July 2022, the FCA published guidance on compromises of regulated firms (see FCA Guidance FG22/4 July 2022 and updated in January 2024) following their significant concerns about these tools being proposed and used by firms to avoid paying customers redress (see: LNB News 05/07/2022 72). Practitioners will need to take note of the guidance where the proposed compromise involves regulated companies, meaning...

Case management in the magistrates’ court—checklist

Case management in the magistrates’ court—checklist This Checklist should be read in conjunction with Practice Note: Case management in the magistrates’ courts. Prior to getting to court Note that certain criminal cases are managed via Common Platform (the digital case management system for the magistrates’ court). In these cases, the Initial Details of the Prosecution Case (IDPC) and other case material will be served and accessed online through Common Platform. Case progression, including completing the Preparation for Effective Trial form (PET form) and serving any applications, will also be conducted through Common Platform. For more information, see Practice Note: How to use Common Platform and the Digital Case System. Requesting the Initial Details of the Prosecution Case • defence advocates should obtain the Initial Details of the Prosecution Case (IDPC) by emailing, telephoning or writing to the relevant contact at the Crown Prosecution Service (CPS). The contact details are published on the website for the relevant district of the CPS. The following information is usually required for IDPC requests: ◦...

LCAM Expedited Arbitration Rules (2022)

LCAM Expedited Arbitration Rules (2022) Background Several arbitral institutions and indeed even the UNCITRAL have in recent years developed expedited or fast track rules for low value disputes and for parties looking to avoid a lengthy arbitration process. Typically, these rules provide for the arbitral process to be conducted on a truncated timeline with a final award to be rendered within three or six months of commencement. For a general discussion on Expedited Rules, see Practice Note: Expedited (aka fast-track) arbitration. This note considers LCAM’s Expedited Arbitration Rules (the Expedited Rules), which have been in force since 1 September 2022, see Practice Note: LCIA (2020)—guidance on creation of a fast-track procedure. As Article 1.2 of the Expedited Rules state, they entail ‘…a complete stand-alone documents-only procedure for the resolution of disputes through arbitration by a sole arbitrator appointed by LCAM. The procedure administered by LCAM under the Rules is intended to be simple, expedited and cost effective’. The LCAM Expedited Rules stand out from the crowd in the following...

Statement of Changes in Immigration Rules, HC 309—analysis [Archived]

Statement of Changes in Immigration Rules, HC 309—analysis [Archived] This analysis considers the main changes to the Immigration Rules (the Rules) set out in HC 309. HC 309 was issued on 7 December 2017, along with an Explanatory Memorandum (EM). It covers: • the electronic issuing of entry clearance • controversial changes to the Rules relating to indefinite leave to remain (ILR) for main applicants and their dependants in work categories, in particular on how absences from the UK are to be treated • substantial amendments to the Tier 1 (Entrepreneur) sub-tier • amendments to Tier 1 (Exceptional Talent) including: ◦ increasing the Tier 1 (Exceptional Talent) limit to 2000 endorsements per year, with 1,000 of these to be allocated among the Designated Competent Bodies on a first-come first-served basis ◦ introducing provision for migrants endorsed under the exceptional talent criteria to apply for ILR after three years • amendments to Tier 2 (General), including: ◦ allowing Tier 4 (General) students to apply to switch into Tier...

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Buy notice for joint share ownership plan (JSOP) agreement

Buy notice for joint share ownership plan (JSOP) agreement To: [insert name of participant] We refer to the agreement that we entered into on [date] with you and [insert name of the Company whose shares are under the JSOP award] (the Company), under which we jointly acquired shares in the Company with you (the Deed). We have received written confirmation from the Company that the Sell Right has lapsed in relation to [all OR [insert percentage]] of the Participant’s Interest under the Deed, and that the Buy Right may therefore be exercised in relation to it. In accordance with clause 9.5 of the Deed, we hereby confirm that we have therefore exercised the Buy Right on [date] in relation to [all of OR that part of] your Participant’s Interest, which we therefore acquired on that

Parental responsibility—client guide

Parental responsibility—client guide This document provides general guidance regarding parental responsibility for a child. Your family lawyer will be able to provide specific advice based on your circumstances. What is parental responsibility? Parental responsibility is defined in law by the Children Act 1989 as: ‘…all the rights, duties, powers, responsibilities and authority which by law a parent of a child has in relation to the child and his property.’ People with parental responsibility are entitled to have a say in major decisions about the child, such as: • where the child should live • where they should go to school • what (if any) religion the child should have • what name they should have • the giving or withholding of medical treatment, and • dealing with their money or property Parental responsibility does not entitle someone to interfere with day-to-day decisions such as what the child wears, their hobbies or choice of TV programmes etc. Generally parental responsibility lasts until the child reaches 18 but it may come to...

Dive into our 285 Precedents related to Award

Where a worker’s pay is not in compliance with National Minimum Wage (NMW) rates, can the worker bring a claim in the employment tribunal and also make a complaint to HMRC for enforcement proceedings against their employer? If the worker’s claim involves a cause of action in addition to their claim for statutory underpayment of wages, would they be able to pursue the claim for underpayment separately via HMRC enforcement, and proceed just with their employment tribunal claim in respect of the other, non-NMW-related, claim(s)?

Where a worker’s pay is not in compliance with National Minimum Wage (NMW) rates, can the worker bring a claim in the employment tribunal and also make a complaint to HMRC for enforcement proceedings against their employer? If the worker’s claim involves a cause of action in addition to their claim for statutory underpayment of wages, would they be able to pursue the claim for underpayment separately via HMRC enforcement, and proceed just with their employment tribunal claim in respect of the other, non-NMW-related, claim(s)? If a worker has not been paid the national minimum wage: • the worker can enforce their entitlement by way of their contract by making a claim for breach of contract or a claim for unlawful deduction from wages • HM Revenue and Customs (HMRC) can enforce the worker's entitlement by issuing a notice of underpayment or suing on the worker's behalf For further information, see Practice Note: National minimum wage, in particular the main sections dealing with Consequences of failure to pay and Enforcement...

In a claim where liability was admitted and a client received a £3,000 interim payment, is there any obligation for that interim payment to be repaid to the defendant's insurers in circumstances where the client is not proceeding? The client has not responded and I am preparing to close their file on that basis.

In a claim where liability was admitted and a client received a £3,000 interim payment, is there any obligation for that interim payment to be repaid to the defendant's insurers in circumstances where the client is not proceeding? The client has not responded and I am preparing to close their file on that basis. An interim payment is a payment made by a defendant on account of a claimant's monetary claim before the court has made a final determination on the amount of that claim. For further guidance, see Practice Note: Interim payments—guiding principles. The Butterworths Personal Injury Litigation Service defines it as ‘a payment on account of any damages, debt or other sum (excluding costs) which that party may be held liable to pay’ . CPR 38.2(2)(b) provides that: 'where the claimant has received an interim payment in relation to a claim (whether voluntarily or pursuant to an order under Part 25), he may discontinue that claim only if— • the defendant who made the interim payment consents in...

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Spain can’t enforce €855m oil spill award against insurers

Law360, London: Spain has failed in its latest attempt to enforce an €855m Spanish judgment against maritime insurers over a huge oil spill off its coast, as an appeals court found on 12 December 2024 that it was prevented from doing so by English arbitration.

Can Romania escape its arbitral award catch-22

Law360: On 2 October 2024, the European Union General Court upheld a decision by the European Commission prohibiting Romania from paying a €178m award from the International Centre for Settlement of Investment Disputes in favour of the Micula brothers.

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GLOSSARY