In this week’s update: an updated checklist for managing an electronic signing on a corporate or commercial transaction, the FCA and AIM are to bring an end to temporary relaxations introduced due to Covid-19 and the court orders a listed company to be wound up on “just and equitable grounds.

In this week’s update: Funds in a holding company’s bank account belonged to a subsidiary and could be used to pay the costs of a subsidiary’s acquisition, the FCA publishes a series of Q&A on the cessation of LIBOR and the Government publishes a roadmap towards greening finance and sustainable investing.

Payment Orders were originally introduced in the CPC as a fast track route for creditors holding a financial instrument, such as a letter of credit or cheque, to obtain judgment against their debtor for what is a simple and indisputable debt. Payment Orders were rarely issued by the onshore UAE courts. In 2018, Cabinet Resolution No 57 of 2018 (the “2018 Cabinet Resolution”) significantly expanded the scope of application of Payment Orders by extending them to all admitted debts rather than simply those arising out of financial instruments only.

In this week’s update: designated members of an insolvent LLP breached their fiduciary duties when they agreed to waive a debt owed to the LLP, a gift of shares was effective, even though there was no evidence of an executed instrument of transfer and the Pre-Emption Group extends the relaxation of its principles to 30 November 2020.

The Supreme Court in Sevilleja v Marex Financial Ltd [2020] UKSC 31 has brought much needed clarity to the legal basis and scope of the so-called ‘reflective loss’ principle. The effect of the decision is a ‘bright line’ rule that bars claims by shareholders for loss in value of their shares arising as a consequence of the company having suffered loss, in respect of which the company has a cause of action against the same wrong-doer.

In this week’s update: The Corporate Insolvency and Governance Act 2020 comes into force, the Government extends company and LLP filing deadlines, new guidance on public health emergency takeover interventions, FCA censure of accompany for historic market abuse and a few other items.

In this week’s update: the test for an LLP member to bring a derivative claim, updated guidance on company meetings, the court sanctions a takeover despite not all beneficial owners being able to vote on the scheme and a few other items.

Covid-19 is affecting the way people conduct their business, retain their staff, engage with clients, comply with regulations and the list goes on. Read our thoughts on these issues and many others on our dedicated Covid-19 page.

In this week’s update: the High Court orders scheme creditor meetings to be held by phone, IA guidance on executive pay and a few other items.

Covid-19 is affecting the way people conduct their business, retain their staff, engage with clients, comply with regulations and the list goes on. Read our thoughts on these issues and many others on our dedicated Covid-19 page.

Court allows scheme meetings to be held electronically

In this week’s update: Guidance on virtual board and committee meetings, updates and guidance on AGMs, pre-emption principles are relaxed and a few other items.

This week, in coronavirus-related news

A recent decision of the High Court of New Zealand provides helpful guidance for insolvency practitioners on how aspects of the voluntary administration regime should operate in the context of the COVID-19 pandemic.

On 30 March 2020, the board of directors of EncoreFX (NZ) Limited resolved to appoint administrators to the company. By then, New Zealand was already at Level 4 on the four-level alert system for COVID-19.