The Privy Council has handed down judgment in the claim brought by the liquidators of Fairfield Sentry Limited ("Fairfield") against a number of redeemed investors, seeking to recover the amounts paid out to them on redemption.
Introduction
The Chancellor’s 2014 Budget speech revealed significant changes to the way in which pension scheme members will be able to access their savings. This move falls as just one of a raft of changes to workplace pensions which Steve Webb MP has described as a “pensions revolution”.
Insolvent Defendants
Corporate Insolvency
Dissolution
1. Corporate bodies (limited companies or LLPs) have a separate legal identity that ceases to exist upon dissolution. Dissolution can occur, broadly speaking, in two ways, one is at the end of the process of winding up (whether voluntary or compulsory) and the other is by the process of striking off the Register of Companies
or limited liability partnerships. The latter occurs either as a result of the company’s
On 8 May 2014, the Supreme Court ordered the CPS to pay the costs and expenses of a receiver appointed over assets, which were not recoverable from a defendant under investigation (Barnes (the former Court Appointed Receiver) v The Eastenders Group and another [2014] UKSC 26).
10 April 2014
[2014] EWHC 1132 (Ch)
Chancery Division (HHJ Simon Barker QC)
Instead of making an administration order as sought and which was unopposed, the Court brought on an extant winding up petition for hearing and appointed a provisional liquidator.
24 February 2014
[2014] EWCA Civ 180
Court of Appeal (Patten, Lewison and Sharp LJJ)
The fact that rent payable in advance had fallen due prior to the tenant company entering administration did not prevent that that rent being payable an expense of the liquidation of the tenant company under the salvage/Lundy Granite principle. The amount of rent so payable was a question of fact.
28 February 2014
[2014] EWHC 540 (Ch)
Companies Court (Etherton C)
When is a company’s property not its property?
Introduction
Fixed and floating charges – why are they important?
They give a lender a higher position in the queue for the net proceeds of a borrower’s assets in the event of a borrower’s insolvency.
Yesterday the UK Financial Conduct Authority (the “FCA”) published the final text of some significant changes to the Listing Rules.1 The changes, which will come into force on 16 May 2014, are intended to enhance the effectiveness of the UK listing regime, particularly in situations where the rights of minority shareholders are at risk of being abused, and to address concerns in relation to the potential influence of
controlling shareholders on UK listed companies, while ensuring that London remains an attractive listing
venue.