Restructuring & Insolvency analysis: In this appeal, the Court of Appeal was asked whether an intention to avoid incurring a tax liability to HMRC was a prohibited purpose under section 423(3) of the Insolvency Act 1986 (IA 1986). The Court of Appeal held that it was not a prohibited purpose because, in short, seeking to avoid a liability from occurring in the first place will not prejudice a potential creditor within the meaning of IA 1986, s 423. Every man is entitled if he can to order his affairs so as that the tax attaching under the appropriate legislation is less than it otherwise would be. Written by Ben Rutledge, associate, and Nathan Tidd, paralegal, at Keidan Harrison LLP who acted for the successful respondents.

This Q&A assumes that A, B, C and D are all beneficiaries in the residuary estate. The first issue raised by this scenario is an appropriation of real property within the estate to some, but not all of the beneficiaries. For information on the power of personal representatives to use a specific asset in the estate to meet, in full or in part, a beneficiary’s entitlement or interest, see Practice Note: Personal representatives and trustees—power of appropriation. The ability to exercise the power should not be affected by the fact that there has been an interim distribution.

Chapter II of the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) allows a qualifying tenant to obtain a new lease of a flat by service of a notice under LRHUDA 1993, s 42 upon their landlord, as defined by LRHUDA 1993, s 40. LRHUDA 1993, s 40 provides that the landlord in relation to a lease held by a qualifying tenant of a flat means the person who is the owner of that interest in the flat which is an interest in reversion on the termination of the tenant’s lease and is either a freehold interest or a leasehold interest

While most financial remedy proceedings take part between the spouses subject to the marriage (or civil partners in respect of a civil partnership) there are cases in which it will be necessary for a third party to intervene. This is commonly the case where there is a dispute as to the beneficial ownership of assets, most commonly property, but may also be the case where proposed orders will affect the assets or security of third parties. This can include a third party who holds a charge over property which they seek to enforce, which can result in a competition between the creditor’s

This Q&A assumes that the lasting power of attorney (LPA) permits the attorneys to sell property of the donor to third parties. Subject to any restrictions contained in the LPA, Y is in principle permitted to purchase X's share of the property. However, the attorneys should consider certain matters before proceeding, including the following: • as X lacks capacity and her financial affairs are managed by her attorneys under the LPA, the attorneys must act in X's best interests. The attorneys must

When a person dies intestate his or her estate is distributed according to the intestacy rules specified in the Administration of Estates Act 1925 (AEA 1925) as amended over the years. More specifically, these rules state who will receive what share of the deceased’s estate. If a person dies leaving a surviving spouse and children or other close relatives, and the estate is of a sufficient value, the surviving spouse will receive a specified lump sum referred to as the statutory legacy. There does not appear

col style="width: 50%;"> What is money laundering? Money laundering is the process through which the proceeds of crime and their true origin and ownership are changed so that the proceeds appear legitimate. How does money get laundered? Typically money laundering involves three stages; placement, layering and integration.Placement—the process of placing criminal property into the financial system. This might be done by breaking up large sums of cash into smaller amounts or by using a series of financial instruments (such as cheques or money orders), which are deposited at different locations.Layering—the process of moving money that has been placed in the financial system in order to obscure its criminal origin. This is usually achieved through multiple complex transactions often involving complicated offshore company structures and trusts.Integration—once the origin of the money is disguised it ultimately must reappear in the financial system as legitimate funds. This process involves investing the money in legitimate businesses and other investments such as property purchases, or setting up trusts.We are most likely to become involved in the layering stage but potentially

This Practice Note looks at human rights claims based on medical grounds, with a focus on Article 3 of the European Convention on Human Rights (ECHR). It explains how the test developed, what the Home Office guidance now requires, the kind of evidence that is usually needed and the procedural points that can make a significant difference in practice. An Article 3 medical claim is not an immigration route in the usual sense as it is found wholly outside the Immigration Rules. The route arises because the Secretary of State for the Home Department (SSHD), tribunals and other public authorities must act compatibly with the Human Rights Act 1998 (HRA 1998) and the ECHR. In practice, the argument is that removal would expose the person to a real risk of inhuman or degrading treatment because they are seriously ill and suitable treatment in the country of return is either not available at all or not realistically accessible to them. For more information on human rights claims, see the Outside

For further practical guidance on the financing of energy, power and resources projects across a number of sectors, including those discussed in this Practice Note, see also textbook: Energy and Resources Financing: A Practical Handbook. What is a CHP project? Combined heat and power (CHP) is an efficient co-generation process able to use a wide variety of fuel sources, capturing and utilising the heat produced in power generation. By generating heat and power simultaneously from the same fuel, CHP can achieve efficiencies compared to the separate generation of heat through eg a gas-fired boiler and an electricity power station. Where a demand for both heat and electricity exists in the same location, CHP can reduce energy costs as well as carbon emissions and air pollution. CHP is technically feasible for many types of thermal generating stations, including energy from waste, biomass with CCUS (BECCS), hydrogen and nuclear, but a significant majority of plants in the UK are currently fuelled by natural gas. Such CHP schemes power hospitals,

What is EU REMIT? Regulation (EU) 1227/2011 (EU REMIT) governs wholesale energy market integrity and transparency. It prohibits insider dealing and market manipulation in relation to wholesale energy products. Aims EU REMIT was created with the primary aim of restoring customer confidence that wholesale energy products are priced fairly. Recital (1) of the Regulation states that: ‘It is important to ensure that consumers and other market participants can have confidence in the integrity of electricity and gas markets, that prices set on wholesale energy markets reflect a fair and competitive interplay between supply and demand, and that no profits can be drawn from market abuse.’ Guidance The European Agency for the Cooperation of Energy Regulators (ACER) provides detailed practical guidance on EU REMIT. In addition, ACER publishes, and regularly updates, a Q&A document, which contains a summary of frequently asked questions about EU REMIT and ACER’s responses to those questions. The Q&A document is intended to serves as guidance to EU REMIT stakeholders and does not constitute a binding legal interpretation of the Regulation. Oversight

This Practice Note provides an introduction to EU law. It is aimed at lawyers who are new to or unfamiliar with EU Law, in particular trainee solicitors. It provides an overview of the institutions, institutional framework, general principles, and enforcement of EU law with reference to the relevant provisions of EU legal sources. This Practice Note is focused on providing an overview of EU law. Examination of substantive aspects of EU law is beyond the scope of this document. For an overview of the EU Law module, see Practice Note: EU Law—new starter guide. EU institutional framework The EU is a supranational polity. It is neither a country nor a federation like the United States or an organisation for cooperation between governments, like the United Nations. It is, in fact, unique. Its structure does not fall into any traditional legal category and owes its success to the unusual way it works. The countries that make up the EU, its ‘Member States’, remain independent sovereign nations but they pool their sovereignty in order to gain a strength

This Practice Note introduces take-or-pay clauses in the energy sector and considers some of the EU, regulatory and competition law issues regularly encountered when considering take-or-pay clauses in the energy contracts. The Practice Note focuses on the EU and international legal frameworks, with examples, and considers English law in outline only. For more information on drafting take-or-pay clauses and the common features of such clauses, see Practice Note: Drafting take-or-pay clauses in energy contracts. For more information on the English courts’ attitude to take-or-pay clauses and a thorough consideration of take-or-pay clauses and the rule on penalties, see Practice Note: Take-or-pay clauses in energy contracts: the rule on penalties. Introduction to ‘take-or-pay’ clauses in the energy sector A take-or-pay clause is a contractual provision whereby a buyer agrees to pay for a minimum quantity of a good, or service, to which the relevant contract relates, whether or not that minimum quantity is taken by the buyer. Take-or-pay clauses are used in contracts across a range of industries.