June 2016 BREXIT A changing legal landscape? 1 INTRODUCTION Yesterday, the UK public voted for the UK to leave the European Union ( EU). This briefing discusses, in outline, the potential timetable for Brexit, the possible shape that Brexit might take and the potential impact Brexit might have on certain areas of law relevant to your business.
The Court of Appeal has allowed an appeal against a limitation order (providing for the restoration to the register of a dissolved company, C, and the suspension of the limitation period during dissolution) and provided guidance on how judicial discretion should be exercised when making such an order.
Shortly before being placed into administration C entered into a sale and leaseback arrangement. C later went into liquidation; however, the purchase price in respect of the sale was not received before the company was dissolved, over four years later.
Tough trading conditions
Litigation
A referral to the financial list!
In GSO Credit v Barclays Bank plc, the Commercial Court has given guidance on the interpretation of terms in, but not directly defined by, standard Loan Market Association (LMA) documentation which was used in the context of secondary trading of a commitment under a surety bonds facility.
On May 4, 2015, the Supreme Court for the United States unanimously held that an order denying confirmation of a plan is not a “final” order subject to immediate appeal as a matter of right.1 Although the Bullard decision involved a plan proposed under chapter 13 to title 11 of the United States Code, 11 U.S.C. §§ 101-1532 (the “Bankruptcy Code”), the holding is equally applicable to bankruptcy cases filed under chapter 11 of the Bankruptcy Code.
Where a company brings a claim against its directors for losses caused by their wrongdoing, the Supreme Court has confirmed the established position that directors cannot escape the claim by arguing that their actions are attributed to the company itself on the basis that the directors were acting as the agents of the company.
The following Middle Market insight* originally appeared in the Spring 2015 edition of Disclosure Statement, the official publication of the Bankruptcy Section of the North Carolina Bar Association.
The Bankruptcy Code provides several protections for parties that have supplied goods or services to a debtor on credit prior to the debtor’s bankruptcy petition date.
Two items of interest in the on-going saga of intellectual property enforcement against bankrupt Collezione Europa and its principals, Paul and Leonard Frankel.
FTC Amends Telemarketing Sales Rule: On July 29, 2010, the FTC announced new amendments to the Telemarketing Sales Rule that will prohibit debt relief companies from collecting advanced fees.