Yes. Yes, they are.
After weeks of rumblings, resignations, accusations, and counter-accusations, and a no-confidence vote, former shadow business secretary and first secretary of state Angela Eagle officially launched her leadership bid at noon on Monday – only to see journalists file out of the room as Leadsom announced her withdrawal from the Conservative leadership race.
However, within two hours, Labour's general secretary confirmed he had received the 50 nominations from MPs required to launch a leadership challenge, meaning that under the party's rules, a contest is formally underway.
Labour party rules require that a contest, once launched, runs until the party conference – this year at the end of September – when the votes are counted and the new leader is formally announced.
Labour's national executive committee is expected to rule on Tuesday as to whether Jeremy Corbyn, the current leader, will need to get nominations from MPs in order to appear on the ballot.
Corbyn's supporters say that as current leader, he should automatically appear on the ballot as challenged, because he's the incumbent. His opponents say the rules imply he needs to seek nominations. Both sides have legal advice supporting their position. Corbyn is expected to struggle to gather 50 nominations, should he need them.
The party's rules do not appear to include any official mechanisms to cancel or suspend a leadership election in the event of a general election.