The following Commercial Q&A Produced in partnership with Ryan Hocking of Hardwicke Chambers provides comprehensive and up to date legal information covering:
The Corporate Insolvency and Governance Act 2020 (CIGA 2020) inserted section 233B into the Insolvency Act 1986 (IA 1986) as part of a package of measures intended, among other things, to mitigate the economic impact of the coronavirus (COVID-19) pandemic. For further information on CIGA generally, see: Corporate Insolvency and Governance Act 2020—overview.
The first point to note is that IA 1986, s 233B only applies where a company becomes subject to a relevant insolvency procedure (as defined in IA 1986, s 233B(2)). It therefore follows that there would be no impact upon a parent company guarantee if that guarantee is triggered by, for example, the customer being unable to pay its debts in circumstances where the customer has not (yet) entered any of the insolvency procedures specifically referred
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On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise rules. Alongside the Rulebook, supervisory statements and statements
The Public Private Partnership (PPP) models are a popular way for governments to involve private investment, expertise and risk in procuring infrastructure, with the potential to deliver a project more efficiently and economically. One of the most popular PPP models for procuring infrastructure
Private nuisancePrivate nuisance is an unlawful interference with a person's use or enjoyment of land or some right over or in connection with it. Interference must be unreasonable, and may be caused, eg by water, smoke, smell, fumes, gas, noise, heat or vibrations. Where the defendant has not
The right to notice means a right for the employee to remain in employment for the period of notice, not simply to be paid for it. An employer will therefore often include in the contract an express right to make a payment in lieu of notice ('PILON') as an alternative to giving notice, to ensure
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