A Major Shift in UK Tax Enforcement The UK is preparing for one of the most significant changes to its tax-enforcement framework in decades, with the government announcing a new whistleblower reward scheme designed to incentivise individuals to report serious tax fraud and avoidance. The reform represents a decisive …

Abuse of process is a doctrine in English law that allows the court to stay or strike out proceedings where the court’s processes are being misused in a way that would be unjust or unfair. Although applied sparingly, it is an important tool to protect the integrity of the …

Payment-in-Kind (PIK) Instruments: Investor Appeal and Associated Risks A Payment-in-Kind (PIK) instrument is a type of debt or preferred security where interest or dividends are paid not in cash but in additional securities or by increasing the principal owed. PIK instruments are common in high-yield bonds, leveraged loans, and …

Key Considerations for Practitioners High-yield bonds, issued by companies with lower credit ratings, offer attractive returns but carry elevated risks. These instruments are often structured with complex covenants, payment-in-kind (PIK) provisions, and call or redemption features, which can complicate enforcement and litigation strategies. 1. Covenant Breaches 2. Disclosure and …

The private credit market has grown rapidly, offering investors higher yields and portfolio diversification, but it carries significant structural vulnerabilities. For dispute resolution professionals, understanding these risks is essential, as they often underpin investor claims and regulatory scrutiny. Opacity and disclosure gaps are the primary concern. Unlike public markets, …

The landscape of arbitration in England and Wales is undergoing its most significant transformation since 1996. The newly reformed Arbitration Act introduces several key changes, not to revolutionise but to refine and modernise a system already held in high regard globally. For businesses, legal practitioners, and academics involved in …