In Grant v Commissioner of Inland Revenue, the Court of Appeal took little time to uphold a High Court decision that a deed of company arrangement (DOCA) under Part 15A of the Companies Act 1993 was void.

At the creditors meeting, the DOCA had been approved by the majority of creditors in number. Nevertheless, this did not constitute 75% of creditors in value. Mr Grant, as chair of a creditors' meeting, purported to exercise a casting vote in favour of the DOCA in order for it to be approved. 

A recent judgment in the Wellington High Court makes receivers, liquidators – and, potentially, the directors of companies in receivership and liquidation – personally liable for GST on the sale of mortgaged properties even where the mortgagee is not GST registered.1

The decision is being appealed and may be overturned as – in our view – it rests upon an unusual interpretation of the law. 

In Stiassny v Commissioner of Inland Revenue the court considered whether the receivers of 2 companies trading together in partnership were personally liable for GST on the sale of partnership assets, and whether a claim could be made against the Commissioner of Inland Revenue for money had and received.

Sultani Decrees  

Sultani Decree No. 44/2012

Ratifies an Annex to the Agreement on the Avoidance of Double Taxation between the Government of the Sultanate of Oman and the Government of the Republic of France.  

Promulgated on 27 August 2012           Effective on promulgation.

Sultani Decree No. 45/2012

Doing Business in the Slovak Republic 2016 Doing Business in the Slovak Republic 2016 Preface Since gaining its independence in 1993, the Slovak Republic has been adopting new laws at a rapid pace. As a country in transition, its legal system continues to develop. Therefore, the Prague office of Baker & McKenzie and its Slovak counsel Marek & Partners have prepared the document Doing Business in the Slovak Republic as a general guide for any company or individual considering an investment in the Slovak Republic.

Changes in law What’s new in the Polish law? An overview of selected changes in regulations and their impact on business Wierzbowski Eversheds | 2016 – Changes in law 2 Introduction We are pleased to present to you our brochure reviewing the changes in law that may soon have a significant impact on your business. The publication contains commentaries and analyses gathered from the perspective of what in our view may be important in 2016. The materials also reflect the issues our law firm encounters every day.

Ruling description

In its judgment of January 15, 2014, the Provincial Administrative Court (WSA) in Warsaw (case no. III SA/Wa 1928/13) ruled that a bankruptcy receiver was not required to correct input tax under the procedure set forth in Art. 89b (1) of the VAT Act (in the version which took effect on January 1, 2013) if the creditor cannot correct output tax under the “bad debt relief” procedure due to the debtor being bankrupt.

Ruling description

In the judgment of August 18, 2015 (case no. II FSK 2510/13) the Supreme Administrative Court confirmed that a registered partnership is excluded from the scope of application of the Capital Duties Directive (69/335/ EEC). Therefore, Restructuring activities in such a company are subject to civil law transactions tax (PCC).

The perspective of a ahot summer arriving is an excellent opportunity to take a look at the most relevant events that occured on the second quarter of 2019.

On an international level, and in contrast with the previous quarters, few events are worth mentioning.

Tax treatment in the hands of the creditor

Polish tax regulations provide three major methods for obtaining a tax deduction for irrecoverable debt: waiver or forgiveness of debt, debt write-off and revaluation write-off.