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Annington Homes
Annington Homes is a provider of privately rented homes in the United Kingdom, specialising in converting former Ministry of Defence (MoD) housing for the general public since 1996. Since 2012, the company has been a wholly owned subsidiary of Terra Firma Capital Partners. In 1996, the MoD sold all its housing for military personnel and their families, 57,400 properties, to Annington Homes for £1.67bn as part of a broader process of privatisation of state assets, making Annington the largest owner of residential property in England and Wales. Annington Homes had been established earlier that year as a shell company by Nomura Holdings; Nomura's Guy Hands played a central role in the deal. The MoD lacked funds to maintain the properties, and intended to rent the homes from Annington at a discounted rate, while allowing the company to sell homes the armed forces no longer required. The rent per house paid by the MoD nearly doubled between 1997 and 2016, and in 2016 the MoD paid d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leaseback
Leaseback, short for "sale-and-leaseback", is a financial transaction in which one sells an asset and leases it back for the long term; therefore, one continues to be able to use the asset but no longer owns it. The transaction is generally done for fixed assets, notably real estate, as well as for durable and capital goods such as airplanes and trains. The concept can also be applied by national governments to territorial assets; prior to the Falklands War, the government of the United Kingdom proposed a leaseback arrangement whereby the Falklands Islands would be transferred to Argentina, with a 99-year leaseback period, and a similar arrangement, also for 99 years, had been in place prior to the handover of Hong Kong to mainland China. Leaseback arrangements are usually employed because they confer financing, accounting or taxation benefits. Leaseback arrangements After purchasing an asset, the owner enters a long-term agreement by which the property is leased back to the sel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Guardian
''The Guardian'' is a British daily newspaper. It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Guardian Media Group, owned by the Scott Trust Limited, Scott Trust. The trust was created in 1936 to "secure the financial and editorial independence of ''The Guardian'' in perpetuity and to safeguard the journalistic freedom and liberal values of ''The Guardian'' free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for ''The Guardian'' the same protections as were built into the structure of the Scott Trust by its creators. Profits are reinvested in journalism rather than distributed to owners or shareholders. It is considered a newspaper of record in the UK. The editor-in-chief Katharine Viner succeeded Alan Rusbridger in 2015. Since 2018, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leasehold Reform Act 1967
The Leasehold Reform Act 1967c 88 is an Act of Parliament of the United Kingdom, which concerns English land law and compulsory purchase. A government bill, the law remains largely intact. It was passed by both Houses and had been tabled by ministers of the Labour government, 1964–1970. Provisions and subsequent amendments The Act grants the right to long leaseholders of houses let at low and moderately low rents to buy their homes compulsorily from their landlords at a fair price. Initially the 1967 Act applied only to homes below these rateable values: £400 in London and £200 p.a. elsewhere (thus targeting low-to-middle income homeowners); the reform coincided with lower wages becoming less of a bar to access to loans from major mortgage lenders. The Act has been amended many times to expand these rights, to homeowners having higher rateable values. Background English law and lending eschews the concept of flying freehold entire properties, such as flats. The solution ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Sea Lord
The First Sea Lord and Chief of the Naval Staff (1SL/CNS) is the military head of the Royal Navy and Naval Service of the United Kingdom. The First Sea Lord is usually the highest ranking and most senior admiral to serve in the British Armed Forces unless either the Chief or Vice-Chief of the Defence Staff are naval officers. Admiral Ben Key was appointed First Sea Lord in November 2021. Originally titled the "Senior Naval Lord to the Board of Admiralty" when the post was created in 1689, the office was re-styled "First Naval Lord" in 1771. The concept of a professional "First Naval Lord" was introduced in 1805, and the title of the office was changed to "First Sea Lord" on the appointment of Sir John Fisher in 1904. Since 1923, the First Sea Lord has been a member of the Chiefs of Staff Committee; he now sits on the Defence Council and the Admiralty Board. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan West, Baron West Of Spithead
Alan William John West, Baron West of Spithead, (born 21 April 1948) is a retired admiral of the Royal Navy and formerly, from June 2007 to May 2010, a Labour Parliamentary Under-Secretary of State at the British Home Office with responsibility for security and a security advisor to Prime Minister Gordon Brown. Prior to his ministerial appointment, he was First Sea Lord and Chief of the Naval Staff from 2002 to 2006. Early career in the Royal Navy West was born on 21 April 1948 in Lambeth, London, and was educated at Windsor Grammar School and Clydebank High School.'' Who's Who 2010'', A & C Black, 2010, He joined Britannia Royal Naval College in 1965 and served in HMS ''Albion'' during her standby duty for the Nigerian Civil War and circumnavigated the globe in HMS ''Whitby'', taking part in the Beira Patrol. He was confirmed as a sub-lieutenant on 1 September 1969, and promoted to lieutenant on 1 May 1970. After his command of the Ton-class minesweeper HMS ''Yarnton' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gordon Brown
James Gordon Brown (born 20 February 1951) is a British former politician who served as Prime Minister of the United Kingdom and Leader of the Labour Party from 2007 to 2010. He previously served as Chancellor of the Exchequer in Tony Blair's government from 1997 to 2007, and was a Member of Parliament (MP) from 1983 to 2015, first for Dunfermline East and later for Kirkcaldy and Cowdenbeath. He is the most recent Labour politician as well as the most recent Scottish politician to hold the office of prime minister. A doctoral graduate, Brown studied history at the University of Edinburgh, where he was elected Rector in 1972. He spent his early career working as both a lecturer at a further education college and a television journalist. Brown was elected to the House of Commons in 1983 as the MP for Dunfermline East, later becoming the MP for Kirkcaldy and Cowdenbeath in 2005. He joined the Shadow Cabinet in 1989 as Shadow Secretary of State for Trade, and was later ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliamentary Under-Secretary Of State For Veterans
The minister of state for veterans' affairs is a ministerial position in the Cabinet Office in the British government, currently held by Johnny Mercer who took the office on 25 October 2022. Earlier, it was jointly with the Ministry of Defence. The officeholder has attended cabinet since 7 July 2022. History It was formerly known as Parliamentary Under-Secretary of State for Defence from 1989 to 2005 and as Parliamentary Under-Secretary of State for Defence Veterans, Reserves and Personnel under Tobias Ellwood. Johnny Mercer was appointed minister in July 2019 to the new government by incoming Prime Minister Boris Johnson. On 20 April 2021, Mercer was "sacked by text" after offering to resign at the end of Wednesday 21 April, but refusing to go earlier. In a tweet, Mercer said he was "relieved of isresponsibilities in Government" because of his disagreements with the scope of the proposed Overseas Operations Bill. This new government law is designed to protect veterans from unfo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kevan Jones
Kevan David Jones (born 25 April 1964) is a British Labour Party politician, who has been the Member of Parliament (MP) for North Durham since 2001. He served as a defence minister under Gordon Brown, and resigned as a shadow defence minister in January 2016 in protest against a front bench reshuffle by Labour leader Jeremy Corbyn. Early life Jones was born in Nottinghamshire and is the son of a coal miner. He attended Portland School, Worksop, Portland Comprehensive School in Worksop and Northumbria University, Newcastle Polytechnic and the University of Southern Maine, gaining a Bachelor of Arts, BA (Hons) in Government and Public Policy. Before becoming an MP, he was a Newcastle upon Tyne councillor from 1990 to 2001 and Chairman of the Development Committee as well as an elected officer of the GMB Union. Parliamentary career Jones was first elected as MP for North Durham in 2001 with a majority of 18,681. After becoming member of Parliament, Jones became a member of the i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dilapidations
Dilapidation is a term meaning a destructive event to a building, but more particularly used in the plural in English law for # the waste committed by the incumbent of an ecclesiastical living # the disrepair for which a tenant is usually liable when he has agreed to give up his premises in good repair. Dilapidation is derived from the Latin for scattering the stones () of a building. Ecclesiastical law In general English law a tenant for life has no power to cut down timber, destroy buildings, etc., or to let buildings fall into disrepair (see Waste). In the eye of the law an incumbent of a living is a tenant for life of his benefice, and any waste, voluntary or permissive, on his part must be made good by his administrators to his successor in office. The principles on which such dilapidations are to be ascertained, and the application of the money payable in respect thereof, depend partly on old ecclesiastical law and partly on acts of Parliament. Questions as to eccl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guy Hands
Guy Hands (born 27 August 1959) is an English financier and investor. He is most notable as the founder and chairman of Terra Firma Capital Partners, one of the largest private equity firms in Europe. Hands also served as chairman of the UK music company EMI. Hands is well known for his frequently outspoken comments about the private equity industry. In April 2009 he moved from the UK to Guernsey where Terra Firma is based. Biography Hands was born in London, to South African parents, by way of Southern Rhodesia. He was educated at Holy Trinity School, Cookham, where he was diagnosed as severely dyslexic. Subsequently, at the age of nine he was sent to Ravenscroft Preparatory School, which had a specialist class for dyslexics, and then to The Judd School, Tonbridge.Kennedy, Siobhan, Business big shot: Guy Hands' dated 30 July 2007, online at timesonline.co.uk More recently, Hands contributed the funds for the construction of the Guy Hands Library at the Judd School. In a R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general."Real estate": Oxford English Dictionary online: Retrieved September 18, 2011 In terms of law, ''real'' is in relation to land property and is different from personal property while ''estate'' means the "interest" a person has in that land property. Real estate is different from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, tools and the rolling stock of a farm. In the United States, the transfer, owning, or acquisition of real estate can be through business corporations, individuals, nonprofit corporations, fiduciaries, or any legal entity as seen within the law of each U.S. state. History of real estate The natural right of a person ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
