![London Borough of Merton Council v Nuffield Health [2023] UKSC 18 – UKSC Blog](https://s0.wp.com/i/blank.jpg "London Borough of Merton Council v Nuffield Health [2023] UKSC 18 – UKSC Blog")
Section 43(5) and (6)(a) of the Local Government Finance Act 1988 (“the LGFA”) provides for a mandatory 80% relief from business rates where “the ratepayer is a charity or trustees for a charity” and the premises are “wholly or mainly used for charitable purposes (whether of that charity or of that and other charities)”. In this appeal, the Supreme Court is asked to decide whether the respondent, Nuffield Health, is entitled to this mandatory 80% relief in respect of its members-only gym known as Merton Abbey.
Nuffield Health (the respondent) is a registered charity whose purposes are “to advance, promote…
On June 23, 2022, the American Bankers Association and 51 state bankers associations released a letter to the federal financial regulators1 that describes the principles the regulators should use when developing guidance and regulations on environmental, social, and governance (“ESG”) issues (“Industry Letter”).2 These principles reflect the industry’s view on how the government can maintain a free-market financial system that also addresses national and global challenges.
The Industry Letter is driven by growing concern that new ESG regulatory requirements will impede banks’ ability to provide necessary products and services to customers. In this Legal Update, we provide background on new…
![Stanford Worldwide Financial institution Ltd (in liquidation) v HSBC Financial institution PLC (Expedited) [2022] UKSC 34 – UKSC Weblog](https://i.ibb.co/n3GR16f/pebisnis-menandatangani-kontrak-legal-potret-stok-yythk.jpg "Stanford Worldwide Financial institution Ltd (in liquidation) v HSBC Financial institution PLC (Expedited) [2022] UKSC 34 – UKSC Weblog")
On enchantment from: [2021] EWCA Civ 535
The Appellant (“SIB”) is an organization included in Antigua and Barbuda that went into liquidation in 2009. Most of SIB’s enterprise was promoting funding merchandise to worldwide prospects. Nonetheless, throughout 2003 to 2009, SIB was being run as a big Ponzi scheme. Buyer withdrawals and funds when funding merchandise supposedly matured have been being produced from capital invested by different prospects relatively than funding proceeds. In 2008, many purchasers requested withdrawals from SIB fearing that it could turn into bancrupt.
SIB had 4 financial institution accounts with the Respondent (“HSBC”). These accounts have…
