The Insolvency (England & Wales) Rules 2016 will come into effect on 6 April 2017. One of the aims of the 2016 Rules is to modernise and simplify the 1986 Rules and to encourage the use of modern technology, particularly with regard to communications with creditors by email and via the use of websites and with regard to the holding of meetings.
Continue ReadingNew studies have found that Grandparents could increase the financial benefits and legally reduce the effects of Inheritance Tax of their inheritances by thousands when gifting monies before their death.
Continue ReadingThe Department for Business, Innovation & Skills (“BIS”) announced its intention to bring forward legislation outlawing bans on assignment in commercial contracts as long ago as December 2014.
Continue ReadingOn 12 September 2016 the Law Commission published its final report containing proposals to modernise the archaic Bills of Sale regime. The driver for reform was the increased use of logbook loans in the consumer vehicle finance market, but the registration of whole turnover invoice finance agreements with sole traders and partnerships as Bills of Sale also fell to be considered.
Continue ReadingThere remains a degree of confusion as to the extent to which invoice financiers are affected by the provisions of the Consumer Credit Act 1974 as now amended by the Financial Services and Markets Act 2000. This is not helped by the fact that some of the statutory provisions are amongst the most opaque anywhere on the statute book, which is largely as a result of the piecemeal way in which the various European directives have been incorporated into UK law over the last 30 years.
Continue ReadingThere was considerable disappointment amongst invoice financiers who operate factoring facilities when the Court of Appeal rejected the recent attempt to strengthen a funder’s position against a debtor who remained silent about a historical rebate claim which only emerged after the demise of the client.
Continue ReadingThe New Year will see the publication of the fourth edition of our popular Guide to Invoice Finance Law , which brings the previous third edition published in 2012 right up-to-date with relevant legislative and case law developments, including an Appendix setting out differences between English and Scots law.
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The next chapter for your business may involve raising finance from external investment, be that through debt or equity, making your exit for your next project or stepping away from your business as your career reaches its twilight.
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Imagine the scene, dear readers, in the Manchester Law Society Messenger Editorial Committee meeting, when some fool looking to fill column inches suggested an article about legal issues relating to an app based around misguided 90s nostalgia. I am that fool.
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Despite the end of the agreed term lease, tenants of business premises have the right to remain in occupation of the premises, and the right to apply to the Court (if necessary) for the grant of a new lease.
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