Latest news with #CPC
Business Recorder
18 hours ago
- Politics
- Business Recorder
Now district judges will hear civil appeals, declares IHC
ISLAMABAD: The Islamabad High Court (IHC), Friday, ruled that instead of the high court, district judges would hear the civil appeals after the Civil Courts (Amendment) Act, 2025. A division bench, comprising Justice Muhammad Azam Khan and Justice Inaam Amin Minhas, declared that in a civil reference titled, 'The Civil Courts (Amendment) Act, 2025 and Transfer of Appeals from Islamabad High Court to District Judges (East) & (West), Islamabad, in pursuance thereof.' The IHC office moved the instant reference and attached a list of cases pertaining to Regular First Appeals filed against the decrees or orders passed by learned civil judges working under the administrative control of the IHC. The list contained 1594 RFAs, which is stated to be tentative. The questions formulated in the reference were included whether amendment made in Section 18 is a matter of procedure and had retrospective effect? and whether High Court can transfer pending appeals to the District Judges on its own motion without notice to the parties to the lis? Justice Azam, who authored the judgment, said that the power of High Court delegated under Section 24, CPC, is further fortified in the judgment passed in Khan Muhammad and others Vs. Ishtiaq Hussain reported as 1987 SCMR 1482. He maintained, 'A statute amending the forum for institution of appeal or that of the Appellate Court during the pendency of the lis will obviously have retrospective effect unless otherwise provided by the subsequent Act. Prior to the instant amendment, appeals against interim orders passed by Civil Judges, where the value of the suit for the purpose of jurisdiction exceeded Rs. 2,500,000/-, were being filed in the High Court.' 'However, it is clarified that now any order passed by a Civil Judge during pendency of the proceedings is appealable before the District Judge. The Office shall also transmit those appeals filed against interim orders to the respective District Judges,' said the IHC. It continued that there is no opposition to this legal proposition or to the course adopted from either side. Resultantly, all the appeals filed against decrees or orders passed by learned Civil Judges, including but not limited to those listed in the annexed list, are hereby ordered to be remitted to the learned District Judges of the respective Divisions, who may entrust the same to the Additional District Judges in the ordinary distribution of work. It further said that given the fact that these appeals pertain to the year 2013, the district judges are expected to place the older appeals on fast track and dispose of the same as per guidelines and policy on the subject. The bench also said that the M.I.T. of this Court is also directed to oversee the distribution of the oldest appeals proactively and ensure their expeditious disposal, and submit periodic reports to this Court. Copyright Business Recorder, 2025
The Print
a day ago
- Politics
- The Print
After success in metros, SC panel & NALSA working on module to train community mediators in villages
These neutral persons, who would be trained to acquire negotiating skills to resolve disputes amicably at the pre-litigation stage, would not be politically aligned individuals, but preferably those who have retired from government jobs such as teaching or defence services. To start with, the two bodies are currently working on a programme to train mediators in villages. According to people aware of this move, NALSA proposes to approach all gram panchayats and ask them to identify and nominate respected persons from their villages who are willing to be trained as mediators. New Delhi: In an effort to reduce workload for courts, a mechanism is being developed to encourage out-of-court mediation. The National Legal Services Authority (NALSA), in collaboration with the Supreme Court's Mediation and Conciliation Project Committee (MCPC), is developing a module to promote community mediation with the objective to encourage citizens to opt for this dispute resolution mechanism instead of choosing the litigation route. The training module that is in the process of being developed would be prepared in all regional languages as the programme aims to cover all villages in the country. A committee headed by a retired District Judge of Delhi has been assigned to prepare the training capsule. A similar project would be developed later to popularise community mediation at the district level. Community mediation is one of the facets of the Mediation Act, 2023, that was introduced to codify and formalise mediation, which has emerged as a successful alternative dispute redressal (ADR) mechanism to settle disputes amicably. Before the Parliamentary legislation was introduced, mediation was practised under section 89 of the Civil Procedure Code (CPC), with courts referring cases to court-annexed mediation centres for settlement. Section 89 was inserted in 1999 to give legal recognition to extra-judicial settlements through participation of parties in ADR, including mediation. This was done to alleviate the burden on courts and enable speedy resolution of disputes. Following a Supreme Court judgement in 2010, mediation emerged as a successful ADR mechanism. This verdict had outlined guidelines on what kind of cases can be referred for mediation. It drew an illustrative list of cases and extolled the virtues of mediation in the legal sector, while hailing it as a meaningful ADR mechanism. As per the law, mediation can only be suggested if the parties agree to an amicable settlement. The procedure allows either of the disputants to withdraw from the mediation process and go back to the court to pursue litigation. 'Litigations are not averse to mediation and have willingly participated in it, resulting in successful resolution of complex cases, particularly those that arose from soured family relations,' said the officer quoted above. However, mediation has remained restricted to metropolitan cities and its benefits have not reached the districts and villages where there is a spurt in litigation. When Supreme Court judge Justice Suryakant took over as chairman of NALSA and MCPC two months ago, he held discussions with officials to build awareness on mediation, particularly community mediation. 'Justice Suryakant noticed that people fighting cases in the top court were ready to settle their disputes through mediation. He, therefore, felt that if the culture of mediation spreads at the district and village level then the docket explosion can be curbed. That's how the idea of informing citizens about community mediation was explored,' another officer working on the project said. Since the objective behind promoting community mediation is to reduce the institution of fresh cases in villages and districts, Justice Suryakant suggested that the programme be devised in such a way that mediation is not showcased as an ADR, but a parallel dispute resolution mechanism. 'If you project mediation as an ADR, people will continue to live with the idea that the traditional court litigation is the principal dispute settlement process. However, we want to break this myth and highlight mediation as an independent mechanism that can be opted for settlement outside the court or even before the start of the litigation,' the second officer mentioned above added. In another significant move, NALSA and MCPC will hold a 90-day all-India mediation campaign wherein cases from taluka-level courts up to the Supreme Court will be referred for mediation everyday, subject to the consent of parties involved in the dispute. The campaign will start on 1 July and end on 30 September. An academic exercise will also be undertaken simultaneously to analyse the impact of the settlements carried out on the judicial system. This will be the first time that such a study will be conducted on mediation. 'In mediation, a bulk of cases are either matrimonial disputes, cheque bouncing cases or insurance matters. During this campaign, courts have been told to refer other kinds of cases such as disputes between neigbours, inheritance cases, mutation matters. A critical and objective evaluation of the exercise will be carried out by the National Judicial Academy, Bhopal, which has been given a free hand to choose a National Law University to work with it,' the officer said. (Edited by Viny Mishra) Also read: 'Tareekh pe tareekh' is not it. Here's why India's district courts are staring at massive pendency
Business Wire
2 days ago
- Business
- Business Wire
KBRA Assigns Preliminary Ratings to CPC Asset Securitization IV, LLC, Series 2025-1 Notes
NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to notes issued CPC Asset Securitization IV LLC (the 'Issuer'). CPC Asset Securitization IV LLC will issue four classes of Series 2025-1 Notes totaling $85 million initially. Channel Partners Capital ('CPC,' or the 'Company') is the Sponsor, Seller, and Servicer for CPC 2025-1. CPC was founded in 2009 and headquartered in Minnesota with offices in Minnesota, Iowa, New Jersey, and Georgia. The Company provides financing to small businesses through the use of a proprietary risk scoring model, transactional data and technology systems. As of March 31, 2025, the company had approximately 210 employees and has funded over $2.92 billion to more than 30,000 businesses via 46,500 transactions. In April 2025, the Company and its subsidiaries were acquired by Onset Financial, Inc., an equipment leasing company. CPC and its subsidiaries are now wholly-owned by Onset Financial, Inc. The proceeds from CPC Series 2025-1 will be used to pay off CPC Asset Securitization II LLC, Series 2023-1 ('CPC 2023-1'). The Series 2025-1 Notes are 'expandable' term notes such that at any time during the Revolving Period, the Issuer may periodically upsize the Series 2025-1 Notes, up to a maximum amount of $500 million, as long as certain conditions are met, including receipt of Rating Agency Confirmation. Noteholder consent is not required for these upsizes. The transaction also features a revolving period (the 'Revolving Period'), which will end on the earlier of (i) prior to the close of business on July 31, 2028, approximately 36 months after the initial closing date and (ii) the date on which a Rapid Amortization Event has occurred. During the Revolving Period, the Seller will transfer additional Receivables to the Issuer, who will purchase such additional eligible Receivables so long as (a) the Issuer and the Receivables satisfy all conditions set forth in the transaction documents and (b) a Rapid Amortization Event has not occurred and is not continuing. Credit enhancement will consist of subordination (except for the Class D Notes), excess spread, a reserve account (funded at closing) and the excess funding account. To access ratings and relevant documents, click here. Click here to view the report. Methodologies Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1010119
Saudi Gazette
2 days ago
- Politics
- Saudi Gazette
Saudi Arabia highlights global leadership in protecting children in cyberspace
Saudi Gazette report GENEVA — The Permanent Mission of Saudi Arabia to the United Nations in Geneva organized an event on enhancing capacity building to protect children in cyberspace as a shared global responsibility. This was part of the global initiative titled 'Child Protection in Cyberspace' (CPC) launched by Crown Prince and Prime Minister Mohammed bin Salman. The event was held on the sidelines of the 59th session of the UN Human Rights Council in partnership with the National Cybersecurity Authority (NCA) and the Global Cybersecurity Forum (GCF). The CPC initiative aims to provide a safe and empowering environment for children worldwide. The session, attended by the Permanent Representative of Saudi Arabia to the United Nations Ambassador Abdulmohsen Majed bin Khothaila, featured participation from the GCF, the Office of the UN High Commissioner for Human Rights (OHCHR), the UN Children's Fund (UNICEF), the UN International Telecommunication Union (ITU), and the WeProtect Global Alliance. The session highlighted Saudi Arabia's pioneering efforts in protecting children in cyberspace through a comprehensive and proactive approach that includes implementing national frameworks, developing educational programs, and enhancing international cooperation in the field. These efforts align with the objectives of Vision 2030, which places investment in human capital at the core of social and economic development. Meanwhile, the GCF launched a joint project with UNICEF aimed at training and preparing over 5 million parents and caregivers worldwide on best practices to protect children from cyber risks, along with providing specialized technical support to child helpline service providers in 30 countries. The session concluded with participants emphasizing the importance of building effective partnerships between countries, international organizations, and the private sector to implement comprehensive capacity-building programs and ensure the protection of children in cyberspace.
Sharjah 24
2 days ago
- Business
- Sharjah 24
UAE, China strengthen cooperation in energy, renewables, industry
The visit aimed to strengthen bilateral relations and expand cooperation in energy, renewable energy, industry, and infrastructure. During the visit, Dr. Sultan Al Jaber met with Lan Fo'an, China's Minister of Finance, and Liu Jianchao, Head of the International Department of the Central Committee of the Communist Party (CPC) of China, and Zou Jiayi, President of AIIB in the presence of Hussain bin Ibrahim Al Hammadi, UAE Ambassador to China. Dr. Al Jaber emphasised the UAE's unwavering commitment to strengthening and expanding the Comprehensive Strategic Partnership with China, and the importance of launching new initiatives that support the development goals of both nations, with a focus on empowering national companies and enhancing collaboration between the public and private sectors, in a way that supports mutual sustainable economic growth and prosperity. Dr. Sultan Al Jaber held a series of meetings with senior leaders from major Chinese companies, including Wang Yuetao, Chairman of ZhenHua Oil, Liao Zengtai, Chairman of Wanhua, a leading chemicals manufacturing company; Liu Haoling, President of the China Investment Corporation (CIC); Dai Houliang, Chairman of China National Petroleum Corporation (CNPC), one of the world's largest energy and petrochemical companies; Zhang Chuanjiang, Chairman of China National Offshore Oil Corporation (CNOOC); Zhang Lei, Chairman of Envision, specialising in renewables and smart energy management solutions; Song Hailiang, Chairman of China Energy Engineering Corporation (CEEC), active in energy and infrastructure projects; and Chen Guanfu, Chairman of POWERCHINA International. The meetings focused on the latest developments in cooperation across energy sectors, including renewables, oil and gas, LNG, refining, and petrochemicals, as well as strategic shipping and storage. They also explored ways to enhance investments in priority areas of mutual interest and potential industrial infrastructure projects, in line with both countries' shared interest to advancing industrial and technological partnerships that support sustainable development, facilitate knowledge transfer and localisation, and boost global competitiveness. China remains the UAE's largest trading partner, with total bilateral trade exceeding US$100 billion in 2024, reflecting a year-on-year growth of 7%, driven primarily by an 18% increase in imports. In the first quarter of 2025, non-oil trade between the two countries grew by approximately 18% compared to the same period last year, supported by a 32.5% rise in exports, a 20.2% increase in re-exports, and a 12.7% growth in imports.
