The following Restructuring & Insolvency Q&A Produced in partnership with Caroline Clark provides comprehensive and up to date legal information covering:
If one company has loaned money to another, it will be the terms of the contract that provide the legal restrictions on whether the loan may be repaid earlier than the ten years initially envisaged.
If the lender company goes into liquidation or administration, this will not of itself change the terms of the contract. The office-holding insolvency practitioner should, however, check the terms of the contract to see if the contract provides for the loan to be repaid sooner or under different terms in the event of the lender company going into liquidation or administration. This may seem unlikely, but it is possible and the officeholder should pursue all options to achieve earlier repayment of the loan.
The office-holding insolvency practitioner would appear to have an appointment that has to be held open for at least ten years before the loan can be repaid and a dividend paid to the creditors. Office-holding insolvency practitioners are under regulatory pressure to close th
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BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For further guidance on
Community order requirementsCommunity order requirements are set out in the Criminal Justice Act 2003 (CJA 2003), as amended by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO 2012) and the Offender Rehabilitation Act 2014 (ORA 2014). Criminal Justice Act 2003, s 152(2)
Having established that a duty of care exists (see Practice Note: Negligence—when does a duty of care arise?), it is then necessary to consider whether or not there has been a breach of that duty. This will depend on a number of factors outlined below and considered against the general background of
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