The Inheritance (Provision for Families and Dependants) Act 1975 (“the Inheritance Act”) enables some limited exceptions to the principle of testamentary freedom and provides an option for redress for those dissatisfied with the dispositions made to them in a will.
A secondary buyout (SBO) involves the sale of a group (the target) by a private equity fund and the target’s management team to a company (newco) funded by a new private equity investor in conjunction with the management. The SBO has become a popular exit route for private equity funds.
In May 2019, the Court of Appeal upheld the 2018 High Court decision to quash a local authority’s registration of land as a town or village green. The Court of Appeal held that the adopted core strategy policies of the local authority gave rise to a trigger event that precluded the local authority from registering the land as a town or village green.