The following Energy practice note Produced in partnership with Stephen Cirell of Stephen Cirell Consultancy Ltd provides comprehensive and up to date legal information covering:
Prior to establishing an ESCo, it is necessary to identify what purpose the ESCo will fulfil and whether such a special purpose vehicle is needed in the circumstances. For more information generally on what ESCOs are and why local authorities may be attracted to them, see Practice Note: ESCo’s: their role in local authority projects.
For example, a local authority engaging in renewable energy generation, such as from solar PV, may not need a company to undertake this activity. It may often be better to simply build and operate the asset on the local authority’s own balance sheet. The same goes for a local authority selling its power from renewable sources via private wire agreements.
But of the three elements in the energy paradigm (generation, distribution and supply), it is the latter that normally results in the strongest need for the establishment of a separate legal entity. Where a local authority is looking to supply heat, electricity and/or gas to customers, then an ESCo will be necessary.
When establishing an ESCo, a local authority will need to decide whether to develop a wholly owned company or opt for some form of joint venture with a partner from the public or private sectors.
Undertaking the venture as a wholly owned company leaves the local authority with all
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When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
Source of the doctrine of the separation of powersThe origins of the doctrine are often traced to John Locke’s Second Treatise of Government (1689), in which he identified the 'executive' and 'legislative' powers as needing to be separate.‘… it may be too great a temptation to human frailty, apt to
A limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital to shareholders without
This Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of mistake on the contract and
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