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Commentary

142.1 Timing

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

142.1 Timing

| Commentary

142 Repaying indebtedness

142.1 Timing

Financial assistance within Section 678 of the Companies Act 2006 should not be a problem where the target company repays its indebtedness; at least where that indebtedness was repayable on demand. (Of course, financial assistance will not generally be a problem if the target company is a private company.) The position however may be different where the parties expected that the indebtedness would be repaid sometime in the future and the target is effectively repaying early. This only seems to be a problem where the target either has no net assets or has assets

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