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Monthly Archives: December 2015

Insolvency litigation exemption will come to an end by April 2016

The Government has announced that the insolvency litigation exemption will come to an end next year. At present, proceedings brought by liquidators, administrators and trustees in bankruptcy to recover assets of the insolvent estate are excluded from the effect of sections 44 and 46 of the Legal Aid Sentencing and Punishment of Offenders Act 2012 […]

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Changes to the rules for company and business names

Two new regulations came into force on 31 January 2015 with the aim to make it easier for companies choosing or changing their name. These changes were introduced as part of the Government’s Red Tape Challenge to reduce the administrative burden companies face. Directors and company secretaries will want to be aware of the impact […]

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Disclosure requirements relating to Charitable Incorporated Organisations

A Charitable Incorporated Organisation (CIO) is one of the four main types of charity structure.  Once a CIO has been formed it is important to appreciate that there are many day to day administrative requirements that need to be followed and fulfilled. The Charity Commission publishes numerous guidance notes and these are especially useful as […]

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Mitigation of loss: Thai Airways v KI Holdings

The doctrine of mitigation of loss was considered and clarified in a judgement earlier this year concerning a dispute between a commercial airline ‘Thai’ and a Japanese aircraft seat manufacturer ‘Koito’. The question was whether the quantum of damages should be assessed against both the costs and benefits arising from the mitigating steps taken by […]

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Marks and Spencer plc v BNP Paribas Securities Services

The case The Supreme Court unanimously decided in favour of the landlord, BNP Paribas, affirming the previous Court of Appeal decision and dismissing M&S’s appeal. In summary, M&S opted to exercise the break notice in the lease to take effect on the ‘first break date’, namely 24 January 2012. For the break notice to take […]

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Good news or bad for UK resident non-doms?

The government has now published its consultation document outlining its intentions regarding the taxation of those people who are resident in the UK but who have a domicile elsewhere. It contains mixed news, depending on your particular circumstances. One of the most immediately obvious changes is that someone whose domicile is elsewhere will be deemed […]

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Re-affirming the Limits of Directors’ Duties to Company Shareholders

In Sharp & Others v Blank & Others [2015] EWHC 3220 (Ch), the High Court has clarified the limits to the  duties that directors owe to the company’s shareholders as distinct from the duties they owe to the company. The case This on-going and well publicised case concerns a challenge brought by shareholders of Lloyds […]

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Landmark decision regarding distributions from insolvent estates

Lockston Group Inc v Nicholas Stewart Wood [2015] EWHC 2962 (Ch) This case is a landmark decision as it explains how the value of creditors claims should be determined when quantifying claims for distributions from insolvent estates. Summary The chairman must decide the amount for which creditors are to be allowed to vote, and must […]

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Making a Will for someone who lacks mental capacity

Generally speaking, someone who wishes to make a Will must have the requisite mental capacity and understanding to make a valid Will.  Otherwise, their Will is very easily open to challenge after they have died.  However, there is a procedure whereby someone can make a Will on behalf of someone who lacks mental capacity – […]

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