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PRECEDENTS
This Precedent is archived and no longer maintained. Part 1: Interpretation 1 Miscellaneous definitions 1.1 In the Arrangement, except where the context otherwise demands: Arrangement • means the Proposal and the Conditions read together; Associate • shall have the meaning given to it in Article 4 of the Order; Claim • means a provable debt in accordance with Rule 12.03 of the Rules with the modifications necessary to refer to a voluntary arrangement; Conditions • are these Conditions; Connected • shall have the meaning given to it in Article 7 of the Order; Court • means any court having jurisdiction in respect of the Arrangement; Creditor • is a person bound by the Arrangement to whom a Debt is owed; Debt • has the meaning given to it in Rule 12.03 (provable debts) of the Rules and Article 9 of the Order with the modifications necessary to refer to a voluntary arrangement, and an HMRC Debt; Directors • means all the directors of the Company at the time that the Proposal was made or at the time of the event described, where relevant in the context; Dividend • means a distribution to Creditors; Excluded Assets • are those assets identified in the
NEWS
Law360: A trade body floated changes on 25 February 2025 to an actuarial model for life expectancy that underpins the £3trn pensions industry, a move to better reflect the impact of the coronavirus (COVID-19) pandemic.
Q&As
For the purpose of this Q&A we have assumed that the buyer is an individual who is buying their first residential property. From 8 July 2020 to 31 March 2021, the SDLT nil rate band for acquisitions of residential property is £500,000 (increased from £125,000). This means that if an acquisition of residential property completes or is substantially performed between 8 July 2020 and 31 March
CHECKLISTS
Coronavirus (COVID-19): Note that pursuant to the Taking Control of Goods and Certification of Enforcement Agents (Amendment) (Coronavirus) Regulations 2020, SI 2020/451, in force from 25 April 2020, restrictions have been imposed on a landlord's right to exercise Commercial Rent Arrears Recovery (CRAR) and to prevent enforcement agents taking control of goods. For further information, see Practice Note: Coronavirus (COVID-19)—implications for property [Archived] — Restrictions on taking control of goods (including the exercise of CRAR). What steps should be taken before instructing an enforcement agent? • Ensure that a demand is made for the sums outstanding • If no payment is made on or before the due date then send a reminder letter • If again no payment is made send a second reminder letter • A final reminder should then follow • Application to magistrates' court for authorisation to issue a summons • Liability order hearing • Costs can be added by the local authority for issuing a summons and for obtaining a liability order (see R v Tottenham Magistrates) • The debtor
PRACTICE NOTES
This Resource Note outlines the main provisions of Rules 17, 18 and 19 of the AIM Rules for Companies (AIM Rules), which deal with disclosure of miscellaneous information and publication of half-yearly reports and annual accounts by an AIM company. It highlights relevant materials, commentary and guidance from the London Stock Exchange (LSE), as well as Lexis+® UK analysis and resources, to give practical guidance on the interpretation and application of Rules 17, 18 and 19 of the AIM Rules. Material covered in this Resource Note include: • the AIM Rules • the AIM Rules for Nominated Advisers (Nomad Rules) • Inside AIM, the periodic publication from the AIM Regulation team • AIM Notices, which are issued periodically, and contain information on AIM regulatory and administrative matters • Lexis+® UK and Lexis®Library resources Setting the scene • Rulebook: AIM Rules for Companies • What it covers: Rule 17 deals with disclosure of miscellaneous information, Rule 18 deals with the preparation of a half-yearly
NEWS
Law360, London: A medical equipment company linked to Conservative peer Baroness Mone must repay the government £122m after it provided unsafe surgical gowns during the early days of the coronavirus (COVID-19) pandemic, a court ruled on 1 October 2025.
NEWS
Law360: Two hedge fund bosses must pay a former personal assistant over £115,000 after an employment tribunal found the businessman had asked her to unnecessarily go against coronavirus (COVID-19) restrictions by working from their homes.
PRACTICE NOTES
Coronavirus (COVID-19): Following the coronavirus (COVID-19) outbreak, some Companies House filing and other administrative procedures have been temporarily suspended or changed. For further details of the impact of COVID-19, see Practice Note: Coronavirus (COVID–19)—impact on company filing and administrative procedures [Archived]. A redenomination of share capital is the conversion of shares from having a fixed nominal value in one currency to having a fixed nominal value in another currency. Prior to 1 October 2009, a limited company having a share capital wanting to redenominate all or any of its share capital first had to cancel the shares by way of a reduction of capital or a share buyback (followed by a cancellation) before issuing new shares in the new currency. This process was administratively onerous, expensive and could have had potentially adverse tax consequences. On 1 October 2009, the Companies Act 2006 (CA 2006) introduced a new statutory regime for a redenomination of a company’s share capital or any class of its share capital. A redenomination of share capital may now be effected by way of a shareholders'
Q&As
This Q&A has been drafted assuming the following: • the question is asked in the light of the ongoing coronavirus (COVID-19) crisis • the statutory declaration is intended to be administered prior to 30 September 2021 • the statutory declaration is one which falls within the scope of the Statutory Declarations Act 1835 • the statutory declaration is being administered in one of the following contexts: ◦ a company entering a members’ voluntary liquidation—section 89 of the Insolvency Act 1986 ◦ a company entering administration—the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 3.17 Prior to the restrictions imposed by the government to tackle the spread of coronavirus, there was something of an unresolved debate concerning the question of whether a solicitor administering a statutory declaration was required to be physically present with the person giving the declaration. The
NEWS
The UK Covid-19 Inquiry has announced that it has opened the Inquiry’s eighth investigation (Module 8) examining the impact of the Coronavirus (Covid-19) pandemic on children and young people. The Core Participant application window will be open from 21 May to 17 June 2024. The Inquiry has also announced that Module 9 will focus on the economic response to the Coronavirus pandemic. This investigation will open in July 2024. The Inquiry has also said that a further investigation is expected to be announced in the Autumn of 2024 which will explore the impact of the pandemic in various ways, including on the mental health and wellbeing of the population.
NEWS
The Insolvency Service has reported that Charles Ling of Romford has received a 15-month suspended sentence for fraudulently obtaining a £30,000 coronavirus bounce back loan (BBL). Ling falsely claimed it was his first such loan, despite having already received a legitimate £20,000 loan, and having used £11,500 for personal expenses including cash withdrawals and mortgage payments. He was charged under sections 1 and 2 of the Fraud Act 2006, ordered to complete 100 hours of unpaid work, and has repaid the fraudulent loan. The case represents continued enforcement action against coronavirus support scheme misuse.
NEWS
The Secretary of State for Housing, Communities and Local Government, Robert Jenrick, has welcomed the Spring Budget 2021 which included measures to help the UK ‘build back better’ following coronavirus (COVID-19), level up communities and help families purchase homes.