Farm businesses often borrow from a variety of sources simultaneously, providing security through mortgages or charges over land and agricultural charges over other farm assets. What farmers may not realise, however, is how priority between lenders works to distribute funds realised, if the business gets into financial difficulties and the assets are sold.

McLean decision

With the aim of improving transparency around ownership and control of companies, all UK unquoted and limited liability partnerships are required to maintain new registers of People with Significant Control (PSC). The details should be recorded in the company’s own PSC register and are to be filed at Companies House.

Anyone who satisfies at least one of the following conditions:

The Bankruptcy (Scotland) Act 2016 came into force yesterday, 30 November 2016, together with other consequential amendments and changes to the Court Rules which relate to bankruptcy in Scotland.

In an important judgment, the High Court has tackled the question of whether an impecunious claimant can defeat a defendant’s application for security for costs on the basis that it has ATE insurance in place.

Dixon v Radley House Partnership (A Firm) [2016] EWHC 2511 (TCC)

The claimant (D) brought negligence proceedings against the defendant (R) a firm of architects, for refurbishment works.

In the draft claim form, D had referred to a loss of £35,894.00 allegedly caused by negligent misrepresentation on the part of R, who had been instructed on 27 October 2007.

The draft claim form and the fee were prepared up to a value of £50,000.00 and were received by the court on 25 October 2013, less than six years after the cause of action arose.

The High Court has recently held that an individual may claim the proceeds of the sale of assets subject to an agricultural charge by the application of the equitable remedy of marshalling.

Agricultural Sector

Privy Council considers entitlement to costs of preparing to comply with a third party disclosure order

The Housing and Planning Act 2016 (the “Act”) introduces special administration procedures for social housing associations which aim to protect the level of social housing in the UK. The new housing administration orders (“HAOs”) create an additional objective for insolvency practitioners to try to keep social housing in the regulated housing sector to maintain levels of social housing.

In May 2015, I wrote an article about the conflicting lower court decisions in Raithatha –v- Williamson and Horton –v- Henry, concerning undrawn pension entitlements and income payment orders. The Court of Appeal has now finally handed down its long expected Judgment.

The BVI High Court granted Norwich Pharmacal relief against a registered agent for a judgment debtor who was subject to an interim freezing order.

The judgment creditor had obtained an interim freezing order against the judgment debtor, and was seeking general information as to the assets of the judgment debtor, following a pattern of concealment of assets to frustrate enforcement of a foreign judgment. The judgment debtor had failed to comply with an overseas freezing order and had been held in contempt of court for failing to disclose assets.