Neither House of Parliament can proceed with any public business until the session has been opened either by the monarch in person1 or by Lords Commissioners acting on her behalf2. On this occasion the causes for the summoning of Parliament are communicated to the two Houses in the Queen's Speech, which states the government's policy and intended programme of business for the forthcoming session and informs the Commons that estimates of government expenditure will be laid before them. The causes of summons, as declared in the Queen's Speech, do not bind Parliament to consider them alone, or to proceed
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Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
What is a res judicata?A res judicata is a decision given by a judge or tribunal with jurisdiction over the cause of action and the parties, which disposes, with finality, of a matter decided so that it cannot be re-litigated by those bound by the judgment, except on appeal.Final judgments by
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G
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