Settlement Definition

GLOSSARY

What does Settlement mean?

The payment or collection of proceeds after trading a security. Settlement usually takes place some time after the deal and price are agreed.

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Issues to consider when drafting a settlement agreement—checklist (employer)

Issues to consider when drafting a settlement agreement—checklist (employer) The employer (and its advisers) should consider the following issues: Preparatory steps • Obtain from the employer: ◦ a copy of the departing employee's latest contract of employment/other relevant documents containing contractual terms (NB these may be in a staff handbook) ◦ details of the contractual benefits enjoyed by the employee ◦ relevant information regarding the employee's pension benefits ◦ relevant information regarding any shares/share options, etc held by the employee? Consider the Articles of Association/any relevant shareholder agreement, share scheme documentation, etc. See also Shares and share options below Status of negotiations • Will negotiations take place between the parties directly, or between their respective legal advisers? • How strong is the employer's negotiating position? How strong are the employee's claims or potential claims? In the case of dismissal, is there a fair reason and has the employer carried out a fair procedure? Is the employer in repudiatory breach? What is the employer prepared to offer initially, and is that...

Responding to a freezing injunction—checklist

Responding to a freezing injunction—checklist This Checklist provides a suggested approach for dealing with and responding to a freezing injunction. It is intended as a starting point, listing various key matters which you should consider when preparing your client’s response. It is assumed that: • the freezing injunction was granted pre-action and without notice, and • your client is the defendant in the underlying substantive claim For further guidance on freezing injunctions generally, see Practice Notes: • Freezing injunctions—guiding principles • Freezing injunctions—the application • Freezing injunctions—the draft order Ensuring you have all the necessary documentation The applicant should have provided the following documentation (at the very least): • the application notice • the affidavit(s) in support • the sealed order • a transcript of the hearing • the skeleton argument (if one was used at the hearing) If any of the above documents are missing, ask the applicant’s solicitors for them as a matter of urgency. You will need all of the documents relied upon at the without notice...

The Pre-Action Protocol for the Resolution of Clinical Disputes—pre-6 April 2015 [Archived]

The Pre-Action Protocol for the Resolution of Clinical Disputes—pre-6 April 2015 [Archived] ARCHIVED: This Practice Note has been archived and is not maintained. Note: A new version of the protocol applies from 6 April 2015. For the post-6 April 2015 pre-action protocol, see Practice Note: The Pre-Action Protocol for the Resolution of Clinical Disputes—6 April 2015 onwards. The Clinical Disputes Protocol came into force on 26 April 1999. It arose from the Clinical Disputes Forum, a multi-disciplinary body formed in 1997 as a result of Lord Woolf’s Access to Justice inquiry. It is designed to encourage a climate of openness when something has gone wrong with a patient’s treatment or the patient is dissatisfied with medical treatment. It sets out a timed sequence of steps for patients and health care providers to follow when a dispute arises. It is designed to speed up the exchange of relevant information and increase the prospects of dispute resolution without resorting to legal action. The Clinical Disputes Protocol created a...

Quantum database general damages uplifts—flowchart

Quantum database general damages uplifts—flowchart This flowchart explains the figures in the General Damages (PSLA) Today’s Value field. As well as inflation, this field takes into account the Heil v Rankin ([2000] 3 All ER 138) uplift and/or the Simmons v Castle ([2012] EWCA Civ 1288) uplift, where they are relevant. This ensures that the General Damages (PSLA) Today’s Value field provides practitioners with an accurately updated general damages figure. Note: The Simmons v Castle uplift has not been added

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Settlement agreement additional clauses—resignation from directorship/office

Insert in operative provisions: 1 Resignation from directorship/office 1.1 If you have not already done so, you will on the date of this Agreement immediately resign from all offices held by you in, or on behalf of, the Employer[ and/or any Group Company] by delivering to the Employer a letter of resignation in the form set out in Schedule [enter number, eg 2]. 1.2 You will immediately on request do all and any acts and things as the Employer may require to effect and/or register your resignation under clause 1.1 above and from all other offices, trusteeships or appointments which you hold in connection with or by reason of your employment by the...

Settlement agreement additional clauses — outplacement

[Insert as additional definition:] Outplacement Counselling services that meet conditions A to D inclusive in section 310 Income Tax (Earnings and Pensions) Act 2003[ and travel expenses incurred in connection with the provision of those services, that meet condition E in that section]; [I

Dive into our 612 Precedents related to Settlement

Where a settlement agreement provides for the employer to make a contribution to the employee’s legal costs, payable direct to the employee’s law firm, can the law firm bring proceedings against the employer if it fails to pay?

Where a settlement agreement provides for the employer to make a contribution to the employee’s legal costs, payable direct to the employee’s law firm, can the law firm bring proceedings against the employer if it fails to pay? For information on: • the legal requirements that must be met for a settlement agreement to be binding and valid to settle statutory employment claims, see Practice Note: Settlement agreements in employment—legal requirements • the practical issues that typically arise in relation to a settlement agreement, see Practice Note: Settlement agreements in employment—practical and tax issues Contribution to legal costs A settlement agreement will typically provide for the employer to make a contribution to the employee’s legal costs. For general information on payment of legal fees incurred by an employee in relation to a settlement agreement generally, see the section of Practice Note: Settlement agreements in employment—practical and tax issues entitled ‘Payment for legal advice’. For a sample clause in the settlement agreement dealing with payment of legal fees, see Clause 13.2...

In relation to promissory notes, is it possible to record the discharge of the note obligations in manuscript on the note itself? Does the release wording need to acknowledge the manner in which the note obligations were discharged? Would an agreement for the note obligations to be transferred to a specific party and discharged by way of set-off undermine their legal status as promissory notes?

In relation to promissory notes, is it possible to record the discharge of the note obligations in manuscript on the note itself? Does the release wording need to acknowledge the manner in which the note obligations were discharged? Would an agreement for the note obligations to be transferred to a specific party and discharged by way of set-off undermine their legal status as promissory notes? We refer you to the following which you may find useful for your purposes. • Bills of Exchange and Promissory Notes (2000) 5 JIBFL 168 As the above article discusses, many instruments which are called a promissory note fail to meet the statutory criteria for being a promissory note eg because there is a floating rate of interest or other payment obligation which makes the amount to be paid by the obligor not a sum certain. See section 83 of the Bills of Exchange Act 1882 (BEA 1882). If any provision of the instrument takes the instrument outside of the definition...

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No reliance on advice meant that claim for damages for negligence failed (Darcliffe Homes v Glanville Consultants)

Construction analysis: The Technology and Construction Court (TCC) dismissed a claim for damages for professional negligence by a property developer against a consultant engineer after finding that the engineer had failed to act with reasonable skill and care, because the property developer had not relied on the advice given and would not have done anything differently had non-negligent advice been given. The court held that the property developer had failed to establish a sufficient nexus between a particular element of the harm for which it sought damages and the subject matter of the engineering company’s duty of care.

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