The following Property practice note provides comprehensive and up to date legal information covering:
Coronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary and permanent nature. These are contained in the Corporate Insolvency and Governance Act 2020, which received Royal Assent on 25 June 2020. Amongst other things, the Act introduces temporary prohibitions on issuing winding up petitions. See: Coronavirus (COVID-19)—implications for property — Property Insolvency and Assessing the impact of the Corporate Insolvency & Governance Bill on property.
Liquidation (sometimes called winding up) is the process by which a company and its affairs are brought to an end and its assets distributed to creditors and members as prescribed by law. It is governed by:
the Insolvency Act 1986 (IA 1986)
the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024
Liquidation of companies incorporated in England and Wales is subject to the jurisdiction of:
the Chancery Division of the High Court, or
where the company has a paid-up share capital not exceeding £120,000, designated county courts
Liquidation is supervised by:
the Official Receiver, or
a liquidator, who must be a qualified insolvency practitioner. In this case the company must have enough assets to pay the liquidator's fees
Liquidation may be:
voluntary—where initiated by resolution of the company's members
compulsory—where the company is wound up by the court
This Practice Note deals only with compulsory liquidation.
Compulsory liquidation is where the court makes
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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
Unlike many other countries, the UK has no unfair competition law. Brand owners seeking to prevent competitors from marketing ‘copycat’ products or using misleading advertising have to rely on a combination of different intellectual property rights. These rights include the common law right to
Coronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. For guidance, see Practice Note: Coronavirus
This Practice Note provides a high-level introduction to diversity and inclusion (D&I) and key reasons why it is important to law firms. Specific aspects of D&I are covered in more detail in Practice Notes:•The growing focus on diversity and inclusion (D&I) in law firms•Unconscious bias—law
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