This Practice Note summarises the traditional fiduciary duties of company directors, including the duty to act in the best interests of the company,...
The principle definedCompany decisions are made by way of resolutions of the shareholders. There are three ways in which a resolution of a company may...
A ratchet in private equity is a mechanism to vary the amount of equity held by founders, managers and employees post-investment.In a venture capital...
This Practice Note explains the cash box structure and the principles behind its use in connection with a proposed placing by a public limited company...
The Quoted Companies Alliance (QCA) is an independent membership organisation that champions the interests of small to mid-sized quoted companies. One...
A demerger is a transaction whereby a business carried on by a company within a group is taken out of that group and run under separate management but...
This Practice Note describes the legal issues that may arise where there is a gap in time between exchange/signing (at which time the share purchase...
This Practice Note outlines the written resolution method directors may adopt to take decisions instead of holding board meetings. It also considers...
Schemes of arrangement—definition and basis in statuteA scheme of arrangement is a court-sanctioned compromise between a company and its creditors or...
Stop pressOn 8 October 2020, the Insolvency Service published the outcome of its review conducted into the impact of the voluntary industry measures...
A company voluntary arrangement (CVA) is a binding contractual agreement between a company and its creditors. A CVA proposal must involve one or both...
The appointment of a receiver is a remedy for creditors and certain third parties to protect their interest in assets of a company. The creditor will...
Taxation and insolvencyThere are relatively few specific rules governing the UK taxation of companies that are subject to insolvency procedures. The...
Entry conditionsFor informal restructuring to be an option (as opposed to a restructuring using one of the formal restructuring tools such as a Part...
General duty of liquidators and administrators where there has been an unlawful transactionIf, during the course of a liquidator's or administrator's...
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