What is a debenture? — Fons Hf v Corporal Ltd and another
The term ‘debenture’ supposedly arose from the practice of Mediaeval merchants writing the Latin ‘debentur’ (literally, ‘they are due’) on IOUs. Given that we have been using the designation — in one form or another — for more than 600 years, one might imagine its usage had been set in stone some while ago. However, a recent Court of Appeal case has caused consternation among City lawyers for introducing significant legal uncertainty over the established distinction between loans and debentures in English law.
The Court of Appeal found in Fons Hf v Corporal Ltd and another  EWCA Civ 304 that certain shareholder loan agreements were ‘debentures’ as they created acknowledgement of debt in a written document…
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For a number of years, one of the most hotly debated topics involving cloud computing has been around the security, confidentiality and integrity of data.
The new remuneration rules proposed in the joint consultation will affect all firms that are dual regulated by the PRA and the FCA.