Nature of administration Directors of companies which become, or are likely to become, insolvent face additional considerations and are under a duty to minimise losses to the company’s creditors. Once an administrator is appointed, the administrator assumes wide ranging powers in relation to the company and the directors may only continue to exercise powers with the administrators' consent. The powers of an administrator are set out in Schedule B1 to the Insolvency Act 1986 (IA 1986) and IA 1986, Sch 1. See Administration—overview. The administrator's powers are the same no matter if they are appointed by the court or out-of-court. They are very wide as an administrator may do anything necessary or expedient for the management of the affairs, business and property of the company. The broad nature of an administrator’s powers was demonstrated in Re Inspired Asset Management

If the debtor fails to attend the hearing and has not filed a notice of opposition under Insolvency (England and Wales) Rules 2016, SI 2016/1024, r 10.18 and/or failed to send or deliver

What is a default notice? A default notice is a notice that must be served on a borrower under a regulated agreement, where that borrower is in breach of the agreement (for example by missing repayments), before the lender is entitled to take certain action against the borrower. When is a notice of default required? A notice is required whenever (as a result of breach of agreement by the borrower) the lender wishes to terminate the agreement, accelerate payment, recover possession of goods or land, enforce any security or to treat any of the borrower's rights under the agreement as terminated, restricted or deferred. What are the requirements for a valid notice? The full requirements are set out in the

As soon as practicable following the grant of planning permission, a collecting authority must issue a liability notice (stating the chargeable amount) and serve it as required by the Community Infrastructure Levy Regulations 2010 (CIL Regulations), SI 2010/948, reg 65. An application for a non-material amendment of that planning permission may be made under section 96A of the Town and Country Planning Act 1990 (TCPA 1990) and there is no legal reason why it should not have the effect of altering

The Q&A is relevant in circumstances where the original tenant has made their application for relief within good time in respect of the type of breach. This Q&A does not consider applications for relief made out of time or the options available to a tenant in those circumstances. Where a tenant breaches the lease and the landlord then forfeits the lease by way of peaceable re-entry or court proceedings, and the tenant wishes to claim relief against forfeiture, an application to court for relief under the Law of Property Act 1925, s 146(2) (LPA 1925) is necessary in order to preserve and continue the existing lease. Any purported 'relief' granted by the landlord without the tenant having made an application to the court for relief would amount to the granting of a new lease (see Zestcrest v County Hall Green Ventures) rather than reinstatement of the original lease by way of relief

If the tenant does not respond, by way of agreeing a statutory extension, or by issuing court proceedings by the termination date specified in the section 25 notice, the tenant will lose their right to a renewal lease under the Landlord and Tenant Act 1954 (LTA 1954) and will, as of the expiry of the section 25 notice, become an unauthorised occupier. For guidance on statutory extension under LTA 1954, s 29B, see Practice Note: Time limits and extension of statutory period under LTA 1954. In the situation that the tenant loses their right to a renewal lease, and on expiry of the section 25 notice becomes an unauthorised occupier, if the landlord did still want to grant the tenant a new lease, the landlord will have a strong bargaining position. This is because the landlord will be entitled to possession and will no longer be constrained by the terms

For the purposes of this Q&A, we have assumed that you are referring to the Electronic Communications Code contained in schedule 2 of the Telecommunications Act 1984 (as amended by the Communications Act 2003). Although the Digital Economy Act 2017 (DEA 2017) received Royal Assent on 27 April 2017, the new Electronic Communications Code contained in schedule 1 is not yet in force. At present, the current Code remains in force and will govern existing agreements. For further information regarding the new Code, see News

Pursuant to section 117 of the Environment Act 2021 (EA 2021), a conservation covenant can be entered into between a responsible body and a landowner who owns a qualifying estate. A qualifying estate for these purposes is a freehold estate or a leasehold estate granted for a term of more than seven years. Pursuant to EA 2021, s 121, an obligation under a conservation covenant has effect for the default period, unless the covenant expressly provides for a shorter period. The default period is, in respect of freehold land, an indefinite duration, and in respect of leasehold land,

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime [Archived]. How should interest be charged on a credit agreement? The term of the credit agreement will specify the interest rate payable (if any) on the credit provided under the terms of the agreement. As well as setting out the rate of interest, which must be charged on a per annum basis, the credit agreement will also set out how interest is calculated

Limited partnerships (LPs) are governed by the Limited Partnerships Act 1907. They comprise general and limited partners, but it is the general partner who is liable for the LP’s debts while limited partners are only liable to the extent of their contribution. A general partner may be either a natural person or a company. It is assumed that the general partner was a company that

For the purposes of this Q&A, it is assumed that the relevant partnership is a limited partnership established in England under the Limited Partnerships Act 1907 (LPA 1907), as subsequently amended with effect from 6 April 2017 by the Legislative Reform (Private Fund Limited Partnerships) Order 2017 (LRO), SI 2017/514. A limited partnership may be formed and continue for: • a fixed term • a single adventure or undertaking, ie a single purpose or project, or • an undefined time Unless otherwise agreed, eg specified in the limited partnership agreement (LPA) relating to the limited

Under the Neighbourhood Planning (General) Regulations 2012 (the 2012 Regulations), SI 2012/637, reg 9A, local planning authorities (LPAs) are required to reach a decision on an application to designate a neighbourhood forum within 13 weeks, or, where the application must be submitted to more than one