The following Restructuring & Insolvency Q&A provides comprehensive and up to date legal information covering:
STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. The content in this Q&A may have been affected by this change.
Under rule 6.14(6) of the Insolvency Rules 1986, SI 1986/1925 (IR 1986), a bankruptcy petition may be served outside of England and Wales. However, this can only happen with the court’s permission, and the court can direct how service is to be effected. In the case of bankruptcy petitions, IR 1986, r 12A.20 provides that Civil Procedure Rules 6 (CPR) shall apply to the service of court documents outside the jurisdiction with such modifications as the court may direct. Section IV of CPR 6 (CPR 6.30–6.47) is entitled ‘Service of the claim form and other documents out of the jurisdi
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This Practice Note considers the different categories of contractual damages that may be available for financial loss (pecuniary loss), ie expectation-based damages, reliance-based damages and gains-based damages.For guidance on contractual damages generally, see Practice Note: Contractual
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A limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital to shareholders without
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