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High Court consider financial assistance and special resolution error relating to scheme of arrangement – Re Uniq plc, High Court

29 June 2011 | Simon Weinberg

Under section 678(1) of the Companies Act 2006 (CA), it is unlawful for a public company or its subsidiaries to give financial assistance to any person acquiring, or proposing to acquire, shares in that...

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How difficult is it to gift a share?

3 March 2011 | Samantha Lloyd

Background How difficult is it to gift a share? This was the question asked by Lady Justice Arden in her judgment in Shah v Shah [2010] EWCA Civ 140. The case considered whether or not a letter accompanied...

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Share Transfers: Only Bona Fide Transactions Will Suffice

15 February 2011 | Mark Archer

A recent High Court case has highlighted that a purported gift of shares in a company by one of the company's directors which was intended to put those shares beyond the reach of individuals who may have...

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Insolvency statistics in Q4 2010 published today by the Insolvency Service

4 February 2011 | Mark Tempest

Insolvency statistics in the fourth quarter of 2010 were published today by the Insolvency Service. Corporate insolvencies across the board were down on the same period last year: compulsory liquidations...

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HMRC to target small and medium enterprises

4 February 2011 | Shimon Shaw

As was reported in this month's Accountancy magazine, HMRC have indicated that they will be targeting SMEs in their latest drive, and could potentially raise £600m of additional revenue. HMRC will...

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Guarantee your guarantee will stand up to scrutiny !

19 January 2011 | Mark Archer

A recent High Court decision has yet again highlighted the need for parties to draft personal guarantees accurately and in a form that is entirely appropriate for the underlying transaction. A guarantee...

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Government consults on draft Companies (Reporting Requirements in Mergers and Divisions) Regulations 2011

17 January 2011 | Richard Phillips

The Department for Business, Innovation and Skills (BIS) has asked for comments on the draft Companies (Reporting Requirements in Mergers and Divisions) Regulations 2011. These Regulations will implement...

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Merry Christmas! The Government is considering changes to the Companies Act 2006

23 December 2010 | Mark Archer

As if directors do not have enough to think about at this time of year, what with New Year cashflow worries, and their families asking for more and more at Christmas, then the Department of Business, Innovation...

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Articles of association are like any other contract

30 November 2010 | Samantha Lloyd

Introduction In a recent decision the High Court emphasised that the articles of association of a company are to be construed in the same way as any other commercial contract. Background A company’s...

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VAT on professional fees for company in financial difficulties

23 November 2010 | Shimon Shaw

A recent VAT decision of the Upper Tribunal will be of interest to companies in financial difficulty and their advisers. HMRC v Airtours Holiday Transport Ltd [2010] UKUT 404 (TCC) A large holiday...

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