The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
This Practice Note looks at two other important types of leasing transactions that may arise, outside the standard operating or finance leases. The most suitable particular structure used in each transaction will change from time to time as they will be influenced by the taxation environment and the regulations that exist in the countries in which the transaction is to be structured. The majority of leasing transactions are set up to seek to obtain the maximum tax benefits and allowances possible and so leasing structures will depend to a significant extent on the tax and accountancy laws in any particular jurisdiction.
Synthetic leases were developed in the United States and are a structure that is treated as a lease for accounting purposes but as a loan for tax purposes. The asset is in effect owned indirectly by the lessee/operating company and the company leases the asset to itself. The structure allows that:
for accounting purposes the asset is owned by a special purpose vehicle (SPV) and is then leased to the operating company (the lessee) under an operating lease. The lease agreement requires the lessee to pay periodic lease payments. For further information on operating leases, see Practice Note: Operating leases. In practice, the SPV is typically owned by the lessee but is kept off the balance sheet of the company. The asset itself
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This Practice Note considers the question of when court proceedings can be stayed. It identifies scenarios in which a party may apply for a stay of proceedings, including to allow for: a jurisdictional challenge; arbitration; an attempt to settle; related criminal proceedings; an opportunity to
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.You should also consider if the proceedings will be
This Practice Note provides guidance on the SRA Codes of Conduct, contained in the SRA Standards and Regulations, in force from 25 November 2019. The SRA Standards and Regulations include two Codes of Conduct—a Code forSolicitors, RELs and RFLs and a Code for Firms. The Standards and Regulations
There are several offences of tipping-off and prejudicing an investigation that apply to the regulated sector. There is also an offence of prejudicing an investigation that applies only to the unregulated sector. Both sectors are subject to an additional offence of interfering with documents.This
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