Scotland: property issues

Acknowledging the importance of Scottish insolvency law to our customers we have developed a new set of content on Scottish insolvency law for Scottish practitioners. The content provides an essential resource for Scottish practitioners while the guidance about the differences between insolvency law in Scotland and England and Wales will assist practitioners in England and Wales in cross-border transactions where it is necessary to have an understanding of insolvency law in Scotland.

Scotland toolkit

The Scotland toolkit is a research tool collating guidance on key areas of law that are specifically relevant to Scotland. The toolkit brings together Scots-law content from across a number of practice areas and includes links to Practice Notes, Checklists and Q&As as well as legal articles and analysis on legal issues directly affecting Scotland. See: Scotland toolkit.

Library resources

The Scotland topic provides practical guidance and precedents linking to pre-eminent titles including:

  1. Stair Memorial Encyclopaedia by multi-contributors including Lord Hope of Craighead, Lord Carloway and Professors D McKenzie Skene and Tom Burns

Scotland: property issues for R&I lawyers

This provides practitioners with essential guidance on:

  1. Glossary of Scottish insolvency

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Latest Restructuring & Insolvency News

High Court clarifies position of sole directors under Model Articles and the interaction between UK sanctions regulations and in-court appointment of administrators (Re KRF Services (UK) Ltd and others)

Restructuring & Insolvency analysis: This High Court case (which addresses two important issues in UK company law and sanctions regulations) will be of interest to insolvency practitioners, corporate and restructuring lawyers, sanctions lawyers, and businesses and individuals which are affected by sanctions. Firstly, it clarifies the position of sole directors under the Model Articles for private limited companies. The court ruled that a sole director can validly pass board resolutions and bind the company, regardless of whether they have always been the sole director or were previously part of a multi-member board. This interpretation resolves conflicts between Article 7(2) and Article 11(2) of the Model Articles, with the court favouring Article 7(2)'s provisions. Secondly, the case examines the interaction between UK sanctions regulations and the in-court appointment of administrators. The court determined that making an administration application and order does not breach asset-freezing sanctions, even when the company is designated or controlled by a sanctioned person. While an Office of Financial Sanctions Implementation (OFSI) license is typically required for administrators to act, the court retains discretion to make immediate appointments in urgent situations. Written by Joshua Ray and Duncan Henderson, partners at CANDEY, which acted for the First and Second Applicants on this matter.

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