The English High Court decision of Hunt v Singh [2023] EWHC 1784 (Ch) has provided the most substantive authority on directors' duties to creditors since the decision of the Supreme Court in BTI 2014 LLC v Sequana SA and others [2022] UKSC 25 (“Sequana”). The case specifically considered the point at which a director’s duty to take into account the interests of creditors arises.
Whether you are starting a new venture, or you have been a company director for several years, you must understand your responsibilities.
Not complying with directors’ duties can lead to disqualification, financial penalties, and even imprisonment.
In this article, you will find the scope of directors’ duties, as set out in the Companies Act 2006 and other legislation such as the Health and Safety at Work Act 1974.
Following are our summaries of the civil decisions of the Court of Appeal for Ontario for the week of January 15, 2024.
摘要
市场经济交易中，企业以自有财产对外抵押，提供担保的情形屡见不鲜。上述企业进入破产程序后，易引发破产法与担保法交叉问题。破产企业以自有财产为第三人的债务提供抵押，主债权债务发生于债权人（抵押权人）与第三人之间，抵押权人若在抵押人的破产程序中主张权利，管理人审查认定过程中，易与破产企业为自己的债务提供抵押混淆，单纯的抵押权人可能被认定为“抵押债权人”。本文立足于物权和债权的二分性原则，探讨了在破产程序中，对破产企业仅享有抵押权的权利人的权利认定与行权规则。
关键词
抵押权人 别除权 别除权人 权利行使
Section 192 of the Canada Business Corporations Act (CBCA) provides a flexible tool that allows corporations to achieve important change and undertake various corporate transactions, subject to court approval and oversight. This article aims to provide an update on the Québec courts’ acceptance of virtual securityholder meetings and approach to the solvency requirement.
Overview of the arrangement process
Pursuant to recent amendments to the Income Tax Act 1967 (“ITA”), gains or profits from the disposal of a ‘capital asset’ on or after 1 January 2024 will be subject to capital gains tax (“CGT”).
‘Capital asset’ is defined to mean movable or immovable property, and includes any rights or interests thereof and includes amongst others, stock and shares, loan stock and debentures.
HFW DISPUTES DIGEST 2023
Welcome to the second annual Disputes Digest, in which we collate our 2023 global HFW LITIGATION and International Arbitration publications in one place.
This edition includes updates from across our Disputes arena, including England and Wales, BVI, AsiaPac, and the Middle East.
A statutory demand (“SD”) is a formal written request for payment of a debt, typically issued by a creditor to a debtor. This legal document serves as a precursor to more severe actions, such as winding up proceedings or bankruptcy. Understanding the key aspects of a SD is crucial for both creditors seeking repayment and debtors facing potential legal consequences.
1. Purpose and legal basis
The Insolvency and Financial Rehabilitation Law came into effect in 2019. The new law added a new cause of action for imposing personal liability on a director or CEO of a corporation in insolvency in respect of damages caused to the corporation and to its creditors, insofar as such directors and officers failed to take action to minimize the scope of the corporation’s insolvency.
Good afternoon. Following are this week’s summaries of the Court of Appeal for Ontario for the week of December 18, 2023.