We recently prepared for trial a Funder’s defence to a claim which raised a number of difficult issues in relation to the annual statements required for a fixed sum credit agreement regulated by the Consumer Credit Act 1974 (“CCA”). In the event the matter settled before trial but a number of interesting points arose and are worth considering.
Continue ReadingFunders should be well advanced in their preparations for the introduction of the EU General Data Protection Regulation on 25 May 2018.
Continue ReadingA recent VAT case in the European Court Justice is of considerable interest to motor-vehicle financiers because it blurs the long established distinction between the VAT treatment of lease and hire purchase.
Continue ReadingA recent case in the High Court contains some interesting comments on the extent to which an obligation to provide equipment on hire of satisfactory quality and/or fit for purpose extends beyond the initial point of delivery.
Continue ReadingWe have in the past been critical of faults in the court system and the drive towards ever increasing fees, so it is only fair that we also give credit where credit is due.
Continue ReadingThe process of replacing the Insolvency Rules 1986 and 28 subsequent amendments has necessarily involved difficult balancing exercises between the interests of numerous stakeholders, but the general consensus among creditors is that The Insolvency (England and Wales) Rules 2016 (SI 2016/1024) (“IR 2016”) which came into force on 6 April 2017 are likely to significantly improve the insolvency process for most creditors.
Continue ReadingThe FLA has joined forces with the Department for Education (DfE) and the National Association of School Business Management (NASBM) in producing a new document “Leasing Guidance for Schools”.
This document replaces the previous FLA publication from 2011 – ‘Tips for Successful Leasing in Schools’.
Continue ReadingThe Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26 June 2017. The new Regulations implement the Fourth EU Money Laundering Directive (“MLD4”) and entirely replace the Money Laundering Regulations 2007, and their provisions are markedly more comprehensive.
Continue ReadingFollowing an extensive consultation process since 2009 the final version of the Pre-Action Protocol for Debt Claims as dictated by the Ministry of Justice will come into force on 1 October 2017.
Continue ReadingWe are pleased to announce that the fifth edition of our popular Guide to Asset Finance Law is now published and ready to distribute. The guide provides up-to-date relevant legislative and case law developments.
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