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Also: spouses’ rights, and the meaning of ’acting by the receivers’.
Changes to insolvency rules download
Principal insolvency-related changes introduced by the Small Business, Enterprise and Employment Act 2015 (the Act).
Some 10 years after having received advice from the defendant the claimant learned that the advice had been negligent and had caused him loss.
Among the questions answered is: I would like to enforce a money judgment by taking control of goods. Are there any practical points of which I should be aware?
It is comforting to solicitors and their insurers that indemnity policies will not be seen as an easy target to cushion clients’ bad business decisions.
Case shows that courts are reluctant to imply terms into contracts that have been freely negotiated between sophisticated parties...
No need to aggregate redundancies.
New insolvency rules on hold download
The introduction of the new insolvency rules is now likely to be delayed until 2016.
If a winding up petition is made to court, any disposition of the company’s property, transfer of shares or alteration in the status of the company’s members is void, if not validated by the court.
What is the effect of liquidation/bankruptcy and dissolution on the ability of a fixed-charge receiver to exercise the powers usually given to a receiver under the LPA or mortgage deed?
Limit on landlords' remedies download
Currently, where a tenant is in arrears of rent totalling £750 or more, a landlord is entitled to serve a statutory demand for payment.
Equity of exoneration — joint mortgagors do not necessarily have joint responsibility for the secured debt download
It is a not uncommon situation — the family home is jointly mortgaged to secure the debts of a family member’s business.
When considered practically, the logical approach would be that a property is worth however much people are prepared to pay for it.
A director of a company who has breached his fiduciary duties as a director could not then, in his capacity as the company’s sole shareholder, ratify the breach where the company was insolvent.
The CMA is to make a ‘Phase 2’ market investigation reference in relation to the supply of retail banking services to personal current account customers and SMEs.
The Pensions Regulator has finally reached a compromise in respect of the Financial Support Directions it issued in connection with the Lehman Brothers pension scheme.
On 29 May 2014, the Pension Protection Fund published ‘Consultation on the second PPF Levy Triennium — 2015–16 to 2017–18’.
The Court of Appeal has held that Olympic Airlines had not experienced an insolvency event for the purposes of section 121 of the Pensions Act 2004.
The government is seeking views on implementing enhanced powers to ensure the continuity of the supply of essential services to insolvent businesses and individuals.
In contrast to non-solvency non-payment of rent, in insolvency situations the landlord must prove for rent he is owed.