The first colony established by the then "Reformed British Administration Colonial Agency" out of the ashes of the fourth great conflict. New London was a lucky find by the survey agency, while the larger more powerful surviving organisations and nation states were able to cherry pick the bests regions of space the RBACA and similar sized nations were left looking for scraps.
New London was habitable without terraforming, though it was grey, wet and cold most of the time, so more or less a perfect habitat for members of the RBACA. The initial workforce arrived on a number of high-speed factory fleets about a century before the arcs arrived.
Once the colony was established, and the arks arrived a fight broke out between several arks and their various ruling factions, while technically speaking the RBACA was supposed to be in charge it turned out that a century in deep space with limited access to communications results in dissent. A resulting civil war led to the end of the RBACA and the formation of a monarchy with a council of corporations and a parliament of elected representatives.
The government is notoriously week meaning that New London and the Greater British Kingdom has become well known as a place to do shady business.
Most major corporations have a headquarters on the planet.
Old Buck - Apparently the palace was transported brick by brick though several historians have questioned whether the original had a burger joint and 24 hour garage on site. Though not many of those historians have been found to collaborate their claimes all seemingly having vanished shortly after questioning the validity of the claim.
Current ruling monarch is Albert Winscor the 3rd.