October 2011 Archive

Merritt's Olympic ban overturned by Court of Arbitration for Sport

A ground breaking decision was issued in October 2011 by the Court of Arbitration for Sport (CAS) following a joint request for arbitration made by the United States Olympic Committee (USOC) and the International Olympic Committee (IOC). The request was initiated in response to the Olympic ban of United States 400m runner La Shawn Merritt. Merritt won the 400m gold medal in the Beijing Olympic Games in 2008 but received a two year ban in 2009 (which was later reduced to 21 months on a finding of exceptional circumstances) after testing positive for a banned substance.

Share incentives in the economic downturn

As has been well reported, the Financial Services Authority and the Treasury have openly stated that they believe that a culture of high value performance bonuses which rewarded the meeting of short-term goals has contributed to the current banking crisis we now find ourselves in. On the FSA and the Treasury’s wish-list going forward is a move towards remuneration structures that reward longer term performance and the creation of maintainable value for shareholders.

The Mortgage Repossession Act 2010

The Mortgage Repossession (Protection of Tenants etc) Act 2010 came into force at the beginning of October 2010. The Act and its supporting regulations provide some limited protection for unauthorised tenants (tenants occupying without the consent of the landlord’s lender) in residential property to bring them broadly in line with the safeguards afforded to authorised tenants under the Protection From Eviction Act 1977.

Shares or assets when acquiring a company?

One of the very first questions to consider when looking at a business acquisition from a corporate Vendor is whether to structure the transaction as a share sale (whereby the Purchaser acquires the target company itself by taking a transfer of shares in the target company) or an asset sale (whereby the Purchaser acquires some, or all, of the assets and liabilities of the Vendor company, together with the business, leaving the shares in the Vendor company with its shareholders). The Vendor may favour one approach and the Purchaser another. Each approach has its own advantages and disadvantages.

Beware unpredictable animals on rights of way

It is fairly obvious to most people that keeping dangerous wild animals on land crossed by a public right of way is a criminal offence. What is less obvious is that it is also an offence to keep certain categories of livestock which may pose a threat to walkers and riders such as certain breeds of dairy bull over 10 months old, or cows with calves.
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