Unlawful financial assistance: rising from the dead

There has been renewed focus on the prohibition on financial assistance from a company for the purchase of its own shares as a result of the criminal proceedings commenced regarding Barclays Bank in respect of transactions involving Qatari investors. This article by Philip Marshall QC considers the return to reliance on these prohibitions as they affect public companies (which continue to be subject to this regime) under the Companies Act 2006, the ambit of the legislation and the likely key issues to arise in civil or criminal proceedings.

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Filed Under: JIBFL

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