The following Restructuring & Insolvency Q&A provides comprehensive and up to date legal information covering:
The statutory powers conferred on the receiver are set out in section 109 of the Law of Property Act 1925 (LPA 1925). Any express powers conferred on the receiver by the mortgagee shall have the same effect as if they were contained in LPA 1925. Section 42(1) of the Insolvency Act 1986 (IA 1986) sets out the powers of a receiver in IA 1986, Sch 1. It states that receivers have the power to grant or accept a surrender of a lease or tenancy of any of the property of the company, and to take a lease or tenancy of any property required or convenient for the business of the company. See our Practice Notes: Roles, powers, functions and duties of an LPA or fixed charge receiver
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Dividends involve a distribution of cash or a distribution of non-cash assets (known as a distribution in kind or a distribution in specie).A scrip dividend (in a tax context, sometimes referred to as a stock dividend) allows a shareholder to receive new shares in a company as an alternative to a
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
Issue estoppel is a sub-species of the res judicata doctrine (see Practice Note: The doctrine of res judicata). In addition to the general key requirements for establishing a res judicata (see Practice Note: Key requirements to establish a res judicata), this Practice Note considers the specific
Overlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover, whether deliberately or otherwise.Examples include the situation where the insured takes the benefit of other insurance arranged by another party or where, in the commercial world, risk
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