We refer you to Practice Note: Remedies for connected lender liability in consumer credit. In particular, we refer you to the section titled ‘Connected lender liability—the basics’, subsection ‘The debtor’ which states: ‘It is only the debtor under the credit agreement who has a claim against the creditor. This creates problems, for example: a husband is the debtor under a

Tenancies at will Section 82 of the Coronavirus Act 2020 (CA 2020) applies to ‘relevant business tenancies’ which are defined at CA 2020, s 82(12) as tenancies which fall within the Landlord and Tenant Act 1954 (LTA 1954) or which would do if the lawful occupier was treated as the tenant. Accordingly, it is arguable that the provisions do not apply to tenancies excluded from LTA 1954, s 43. This includes tenancies at will, which do not fall within LTA 1954 on the basis that

For the purposes of the Q&A, we have assumed that the so-called ‘50:50 rule’ applies to the income from assets held jointly by husband and wife (or, where appropriate, civil partners). The rule is that, subject to exceptions, such income is generally treated as belonging to the husband and wife equally and taxed accordingly (even if they have contributed to the acquisition of the income producing asset in unequal shares). In appropriate cases, the parties may wish to declare that a greater share of the income goes to the spouse paying income tax at a lower rate than the other. If so, the declaration must relate to both the income and the capital,

Section 89(2) of the Financial Services Act 2012 (FSA 2012) details that a person commits an offence if they make a statement or conceals facts with the intention of inducing, or is reckless as to whether making or concealing facts may induce, another person (whether or not the person to whom the statement is made) to:

Section 1 of the Corporate Insolvency and Governance Act 2020 (CIGA 2020) introduces a new Part A1 to the Insolvency Act 1986 (IA 1986), which enables eligible companies to apply for a statutory moratorium. The moratorium is designed to allow viable businesses time to restructure or seek new investment, free from creditor action. In terms of IA 1986, s A21, during the moratorium, ‘(e) no legal process (including legal proceedings, execution, distress or diligence) may be instituted, carried out or continued against the [eligible] company, except…(iii) with the permission of the court’. Before considering further how this might impact on the ability of a party to a construction contract, to either commence an adjudication against a counterparty who is subject to a moratorium, or who wishes to enforce an adjudication

This Q&A focuses on sales by liquidation. Sales by other office-holders when company is not in liquidation are not considered. A director of a company that goes into liquidation cannot use the name of that company in liquidation in a new business for a period of five years, or they risk criminal and/or civil penalties under section 216 of the Insolvency Act 1986 (IA 1986). For further information, see Practice Note: Prohibited names under section 216 of the Insolvency Act 1986. IA 1986, s 216 was designed to counteract the 'phoenix' phenomenon, where directors put their insolvent company into liquidation, set up a

We have assumed that service is pursuant to a notice clause in a commercial contract. Contractual definition Where a contract defines what a ‘by hand’ method of service means, this definition should be looked at for the meaning of delivery ‘by hand’. Absence of a contractual definition Where there is no contractual definition of a ‘by hand’ method of service, and in the absence of any indication to the contrary, a courier is generally regarded as satisfying a by hand service obligation. If this interpretation is challenged, the court will objectively construe the meaning of the term, having regard to the words

The appellant’s notice seeking permission to appeal an order for possession does not automatically stay the execution of a possession order unless the court orders otherwise. If the appellant requires a stay of execution it will need to make an application as soon as possible.

This question raises the issue of the circumstances in which a right to forfeit a lease may be waived by the conduct of the landlord. In particular, it asks whether serving a notice under section 17 of the Landlord and Tenant (Covenants) Act 1995 (LT(C)A 1995) on a guarantor has the effect of waiving the right. Perhaps surprisingly, given the willingness of tenants to argue that the right has been waived, the facts raised in the question have not come before the higher courts for determination. The starting point is that the right to forfeit a lease can be waived. As Parker J said in Matthews v Smallwood: ‘Waiver of a right of re-entry can only occur where the lessor, with knowledge of the facts upon which his right to re-enter arises, does some unequivocal act recognising the continued existence of the lease.’ Although it is often

MLex: Recent Court of Justice rulings are raising questions over how broadly social media platforms can still rely on liability shields for user-generated content. Russmedia, Coyote and a YouTube judgment point to greater responsibility where platforms influence dissemination, algorithmically structure content, or gain knowledge through commercial relationships with creators.

The stamp tax analysis of an assignment of a life insurance policy will depend on the mechanics of the assignment and whether the policy is a marketable security. Stamp duty was abolished on life insurance policies by Finance Act 1989 (FA 1989), s 173 (now repealed) with effect for instruments made after 31 December 1989. Stamp duty should only apply if any assignment or transfer falls within the general charging provisions listed below. Subject to exemptions and reliefs, UK stamp duty applies to: • instruments of transfer relating to stock or marketable securities (such as stock transfer forms) • instruments effecting a transfer of any interest

Stamp duty generally applies to transfers of stock and marketable securities for consideration in the form of cash, an assumption of debt or stock/marketable securities. Stamp duty is a tax on documents. Where certificated shares are transferred, the stock transfer form is generally the document subject to stamp duty. For more detail on calculating stamp duty, see Practice Notes: Stamp duty on transfers—consideration and calculation and Stamp duty and SDRT on the sale of certificated registered UK shares. Stamp duty reserve tax (SDRT) applies to agreements to transfer chargeable securities for consideration in money or money’s worth. For more detail on calculating SDRT, see Practice Note: Stamp duty reserve tax on the sale of UK shares