The application is brought by way of an application notice that complies with Insolvency (England and Wales) Rules 2016, SI 2016/1024, r 1.35. The application notice should set out the nature of the remedy sought and the fact the application is made under section 238 of the Insolvency Act 1986 (IA 1986). The remedy sought will typically be a declaration

Manolete Partners v Hayward and Barrett Holdings, clarifies that a claim seeking a remedy pursuant to section 423 of the Insolvency Act 1986 (IA 1986) should be made by way of a Part 7 claim, rather than an insolvency application. Section 423 is found in IA 1986, Pt XVI and so Insolvency (England and Wales) Rules 2016, SI 2016/1024, r 1.35 (which applies to IA 1986, Pts I–XI) does not apply. However, unless

Section 116(1) of the Inheritance Tax Act 1984 (IHTA 1984) provides as follows: ‘Where the whole or any part of the value transferred by a transfer of value is attributable to the agricultural value of agricultural property, the whole or that part of the value transferred shall be treated as reduced by the appropriate percentage …’ The question presupposes that the appropriate percentage in the case under consideration is 50%. There are a number of factors that may influence the value of agricultural land, as summarised in HMRC’s inheritance tax (IHT) manual at paragraph IHTM24150 and in paragraphs IHTM23171–IHTM23209. Be aware that if the land forms part of the assets of a partnership then what will be valued is the value

This Q&A relates to the sale and purchase of shares of a private limited company incorporated in England where the seller is a trustee that holds the legal title to the shares being sold on behalf of a beneficiary. A share purchase agreement can be structured as a sale and purchase of shares between a seller (as a trustee) and a buyer. However, this structure will have an impact on the provisions of the share purchase agreement (for example, the sale and purchase clause, the consideration clause, the governing law and jurisdiction clause, the warranties, the limitations on the warranties and the indemnities). From a practical standpoint, it should also be noted that a buyer is highly likely to want to know the identity of any underlying beneficiaries of the relevant trust, where the seller is a trustee of that trust. This information is likely to be revealed,

This Q&A concerns commercial agency agreements where the agent (A) is appointed by the principal (P) in relation to the supply of goods and services. It addresses two questions: (1) whether the supply of services is relevant when calculating termination payments under the Commercial Agents (Council Directive) Regulations 1993 (Commercial Agents Regulations), SI 1993/3053 where the supply of goods is not a secondary activity; and (2) where the supply of goods is secondary, whether A would be considered a commercial agent if separate agency agreements were concluded for goods and services. Under Commercial Agents Regulations, SI 1993/3053, reg 1(2) govern ‘the relations between commercial agents and their principals’. The definition

Paragraph 12A of Schedule 17A to the Finance Act 2003 (FA 2003) sets out how an agreement for lease which has been substantially performed should be treated for stamp duty land tax (SDLT) purposes. FA 2003, Sch 17A, para 12A(2) provides that an agreement for lease which has been substantially performed is treated as a grant of a notional lease with an effective date of the date of substantial performance. For more detail on the meaning of effective date and substantial performance, see Practice Note: SDLT—notifiable transactions. An SDLT return may be required and SDLT may be due within

Do you have any guidance on the local laws in the Middle East, including Oman? We have assumed that this Q&A might be positioned from one of two angles, either: (a) from the perspective of a UK company doing business in the Middle East and wanting to understand how Middle Eastern local laws might impact performance of business contracts, or (b) querying whether local laws come into play when dealing with the jurisdictional issues of a dispute. Jurisdictional issues When dealing with foreign jurisdictions, legal advice and, where necessary, translation, should always be sought particularly where the applicable laws are to be in a foreign language. As Arabic is the official language of Oman, specialist translation should be sought in this instance. The answer to this Q&A is also likely to depend on the nature of the agreement itself as specific laws may be applicable to specific types of agreement. The guidance available on Lexis+® UK and Lexis+ UK Legal Research

The beneficial ownership of a property can be held by two (or more) people as either joint tenants or tenants in common. Where the equity is held as tenants in common each person has a defined share, whereas equitable joint tenants own the property per muy et per tout—ie each owns the indivisible whole. Parties who hold as tenants in common can leave their interest to anyone; the interest of a joint tenant will be extinguished by survivorship on death, and the remaining joint tenant or tenants will continue to own the whole with no need for a transfer of the beneficial interest. The legal

The permission of the court is not required to serve a divorce application issued in England and Wales in California (Family Procedure Rules 2010 (FPR 2010), SI 2010/2955, 6.41). It is assumed for the purposes of this answer that the application was issued on or after 6 April 2022. The procedure is governed by FPR 2010, SI 2010/2955, 6.40–6.48 and FPR 2010, PD 6B. The basic rule as to the methods of service out of the jurisdiction is contained in FPR 2010, SI 2010/2955,

Pain, suffering and loss of amenity The aim of the award for pain, suffering and loss of amenity is to provide fair, just and reasonable compensation for the non-pecuniary injury that has been sustained by a claimant; see Practice Note: Pain, suffering and loss of amenity (PSLA). Where there is permanent injury, the damage to be assessed may include, among other elements, loss of the joys of life, such as sports, recreation, music or the mere ability to walk about. See: The elements of a claim for pain, suffering and loss of amenity: Munkman on Damages for Personal Injuries and Death [6.10]. The quantification of general damages was considered by Lord Roche in Rose v Ford as follows: ‘If there is loss of amenity apart from the obvious and normal loss inherent in the deprivation of the limb-if, for instance, the claimant's main interest in life was some sport or hobby from which

A contract can be made up of all or any of: • express terms • implied terms • imposed terms • incorporated terms For further information, see, generally, Practice Note: Types of contractual term in employment. When it comes to resolving a dispute between the employer and the individual as to the express terms of a contract, it will be necessary to determine what the actual terms are. In construing the relevant terms of a contract, the court will strive to interpret the bargain made by the parties. The usual canons of construction that apply in relation to the general law of contract also apply in relation to construing the terms of an employment contract. See the commentary in Introduction to constructing a contract of employment: Harvey AII [21 ff]. Where the individual entered into an employment

Capital gains tax on disposal of an asset Capital gains tax (CGT) is charged where a person disposes of an asset and makes a profit that is capital in nature. For more information on when CGT arises, see Practice Note: Introductory guide to CGT for more information. The standard proforma for calculating the chargeable gain on the disposal of chargeable assets from 6 April 2008 onwards is a basic calculation of the cash profit: proceeds of sale less acquisition cost and allowable expenditure. See Practice Note: CGT—how to calculate a capital gain for more information. Disposal of property without consideration Where property is disposed of for no consideration, there are no proceeds of sale. In such circumstances, section 17(1)(a) of the Taxation of Chargeable Gains Act 1992 (TCGA 1992), will apply. TCGA 1992, s 17(1)(a) states: ‘The consideration for the disposal