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Local Authorities Swaps Litigation
The local authorities swaps litigation (sometimes called simply the swaps cases) refers to a series of cases during the 1990s under English law relating to interest rate swap transactions entered into between banks and local authorities. The House of Lords ruled that such transactions were unlawful. As a result of the decision over 200 separate actions were filed as hundreds of interest rate swap contracts had to be unwound by the courts at great expense.In his judgment in Re Interest Rate Swap Litigation' (unreported, 28 November 1991) Hirst J recorded that "As at 30th October, 1991 there were 203 extant swap actions, 18 had been settled after the issue of proceedings, 2 had been discontinued and 4 are in progress in the Chancery Division. Although in the vast majority of cases the banks are plaintiffs, there are 10 actions involving 8 local authorities in which a local authority is plaintiff because they are net losers under their swap transactions. The number of plaintiff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shepherds Bush Road London
A shepherd or sheepherder is a person who tends, herds, feeds, or guards flocks of sheep. ''Shepherd'' derives from Old English ''sceaphierde (''sceap'' 'sheep' + ''hierde'' 'herder'). ''Shepherding is one of the world's oldest occupations, it exists in all parts of the globe, and it is an important part of Pastoralism, pastoralist animal husbandry. Because of the ubiquity of the profession, many religions and cultures have symbolic or metaphorical references to the shepherd profession. For example, Jesus called himself the Good Shepherd, and ancient Greek mythologies highlighted shepherds such as Endymion (mythology), Endymion and Daphnis. This symbolism and shepherds as characters are at the center of pastoral literature and art. Origins Shepherding is among the oldest occupations, beginning some 5,000 years ago in Asia Minor. Sheep were kept for their milk, sheep meat, meat and especially their wool. Over the next thousand years, sheep and shepherding spread throughout ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subdivisions Of England
The subdivisions of England constitute a hierarchy of administrative divisions and non-administrative ceremonial areas. Overall, England is divided into nine regions and 48 ceremonial counties, although these have only a limited role in public policy. For the purposes of local government, the country is divided into counties, districts and parishes. In some areas, counties and districts form a two-tier administrative structure, while in others they are combined under a unitary authority. Parishes cover only part of England. The current system is the result of incremental reform which has its origins in legislation enacted in 1965 and 1972.Jones, B., Kavanagh, D., Moran, M. & Norton, P., Politics UK, (2004), Pearson Longman. Regions At the highest level, all of England is divided into nine regions that are each made up of a number of counties and districts. These 'government office regions' were created in 1994, and from the 1999 Euro-elections up until the UK's exit from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harry Woolf, Baron Woolf
Harry Kenneth Woolf, Baron Woolf, (born 2 May 1933) is a British life peer and retired barrister and judge. He was Master of the Rolls from 1996 until 2000 and Lord Chief Justice of England and Wales from 2000 until 2005. The Constitutional Reform Act 2005 made him the first Lord Chief Justice to be President of the Courts of England and Wales. He was a Non-Permanent Judge of the Court of Final Appeal of Hong Kong from 2003 to 2012. He sits in the House of Lords as a crossbencher. Early life Woolf was born in Newcastle upon Tyne, on 2 May 1933, to Alexander Susman Woolf and his wife Leah (). His grandfather Harry was a naturalised Briton of Polish and Russian Jewish origins. His father had been a fine art dealer, but was persuaded to run his own building business instead by his wife. They had four children, but their first child died, and his mother was protective of the three surviving children. Woolf lived in Newcastle-upon-Tyne until he was about five years old, when his f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Queen's Counsel
In the United Kingdom and in some Commonwealth of Nations, Commonwealth countries, a King's Counsel (Post-nominal letters, post-nominal initials KC) during the reign of a king, or Queen's Counsel (post-nominal initials QC) during the reign of a queen regnant, queen, is a lawyer (usually a barrister or advocate) who is typically a senior trial lawyer. Technically appointed by the monarch of the country to be one of 'His [Her] Majesty's Counsel learned in the law', the position originated in England and Wales. Some Commonwealth countries have either abolished the position, or renamed it so as to remove monarchical connotations, for example, 'Senior counsel' or 'Senior Advocate'. Appointment as King's Counsel is an office, conferred by the Crown, that is recognised by courts. Members have the privilege of sitting within the inner Bar (law), bar of court. As members wear silk gowns of a particular design (see court dress), appointment as King's Counsel is known informally as ''rec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Junior Barrister
A junior barrister is a barrister who has not yet attained the rank of King's Counsel. Although the term is archaic and not commonly used, junior barristers (or "juniors") can also be referred to as utter barristers derived from "outer barristers" or barristers of the outer bar, in distinction to King's Counsel at the inner bar. They may also be referred to as stuff gownsmen, in contradistinction to the silk gowns worn by King's Counsel (who are therefore also known as "silks"). When students are called to the bar in jurisdictions which maintain barristers as a separate profession, they are said to be "called to the Degree of an Utter Barrister..." on their certificate of call. This reflects that in English court rooms King's Counsel sits one row further forward than junior barristers (historically, the Attorney General sits one row further forward still, although the Attorney General appears so rarely in court in modern times that the convention has largely been abandoned in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barrister
A barrister is a type of lawyer in common law jurisdictions. Barristers mostly specialise in courtroom advocacy and litigation. Their tasks include taking cases in superior courts and tribunals, drafting legal pleadings, researching law and giving expert legal opinions. Barristers are distinguished from both solicitors and chartered legal executives, who have more direct access to clients, and may do transactional legal work. It is mainly barristers who are appointed as judges, and they are rarely hired by clients directly. In some legal systems, including those of Scotland, South Africa, Scandinavia, Pakistan, India, Bangladesh, and the British Crown dependencies of Jersey, Guernsey and the Isle of Man, the word ''barrister'' is also regarded as an honorific title. In a few jurisdictions, barristers are usually forbidden from "conducting" litigation, and can only act on the instructions of a solicitor, and increasingly - chartered legal executives, who perform tasks such ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Courts Of Justice
The Royal Courts of Justice, commonly called the Law Courts, is a court building in Westminster which houses the High Court and Court of Appeal of England and Wales. The High Court also sits on circuit and in other major cities. Designed by George Edmund Street, who died before it was completed, it is a large grey stone edifice in the Victorian Gothic Revival style built in the 1870s and opened by Queen Victoria in 1882. It is one of the largest courts in Europe. It is a Grade I listed building. It is located on Strand within the City of Westminster, near the border with the City of London ( Temple Bar). It is surrounded by the four Inns of Court, St Clement Danes church, The Australian High Commission, King's College London and the London School of Economics. The nearest London Underground stations are Chancery Lane and Temple. The Central Criminal Court, widely known as the Old Bailey after its street, is about to the east—a Crown Court centre with no direct connection ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deloitte
Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of professionals in the world and is considered one of the Big Four accounting firms along with EY (Ernst & Young), KPMG and PricewaterhouseCoopers (PWC). The firm was founded by William Welch Deloitte in London in 1845 and expanded into the United States in 1890. It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte. In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte. Subsequent acquisitions have included Monitor Group, a large strategy consulting business, in Janu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
District Auditor
A district is a type of administrative division that, in some countries, is managed by the local government. Across the world, areas known as "districts" vary greatly in size, spanning regions or county, counties, several municipality, municipalities, subdivisions of municipalities, school district, or political district. By country/region Afghanistan In Afghanistan, a district (Persian language, Persian ps, ولسوالۍ ) is a subdivision of a province. There are almost 400 districts in the country. Australia Electoral districts are used in state elections. Districts were also used in several states as cadastral units for land titles. Some were used as squatting districts. Cadastral divisions of New South Wales, New South Wales had several different types of districts used in the 21st century. Austria In Austria, the word is used with different meanings in three different contexts: * Some of the tasks of the administrative branch of the national and regional governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goldman Sachs
Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, Hong Kong, Tokyo, Dallas and Salt Lake City, and additional offices in other international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 57th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important financial institution by the Financial Stability Board. The company has been criticized for a lack of ethical standards, working with dictatorial regimes, close relationships with the U.S. federal government via a "revolving door" of former employees, and driving up prices of commodities through futures speculation. While the company has appeared on the 100 Best Companies to Work For list compiled by ''Fortune'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Audit Commission (United Kingdom)
The Audit Commission was a statutory corporation in the United Kingdom. The commission's primary objective was to appoint auditors to a range of local public bodies in England, set the standards for auditors and oversee their work. The commission closed on 31 March 2015, with its functions being transferred to the voluntary, not-for-profit or private sector. On 13 August 2010, it was leaked to the media, ahead of an official announcement, that the commission was to be scrapped. In 2009-10 the commission cost the central government £28 million to run, with the remainder of its income coming from audit fees charged to local public bodies. History The Audit Commission was established under the Local Government Finance Act 1982, to appoint auditors to all local authorities in England and Wales and it became operational on 1 April 1983. The National Health Service and Community Care Act 1990 extended the remit of the commission to cover health service bodies. Legislation cover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swap (finance)
In finance, a swap is an agreement between two counterparties to exchange financial instruments, cashflows, or payments for a certain time. The instruments can be almost anything but most swaps involve cash based on a notional principal amount.Financial Industry Business Ontology Version 2 Annex D: Derivatives, EDM Council, Inc., Object Management Group, Inc., 2019 The general swap can also be seen as a series of forward contracts through which two parties exchange financial instruments, resulting in a common series of exchange dates and two streams of instruments, the ''legs'' of the swap. The legs can be almost anything but usually one leg involves cash flows based on a |
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