Corporate Crime analysis: Under section 17 of the Prosecution of Offences Act 1985 (POA 1985), private prosecutors can recover ‘just and reasonable’ costs incurred ‘in the proceedings’ from central funds. In what is a significant decision for private prosecutors, the Divisional Court unanimously held that private prosecutors could recover costs incurred before proceedings were commenced—that is to say, prior to a summons being issued or an information being laid. To come to this decision, the court had to consider what Parliament meant by ‘in the proceedings’, although much of the court’s reasoning was based on public interest considerations. As such, it is doubtful that this interpretation will be applicable to other areas of law. Nevertheless, the case is an important authority for private prosecutors because it allows them to claim costs that were previously not possible. However, the exact remit of these costs is not clear and of course it also remains subject to the court’s discretion to limit costs to what it perceives is just and reasonable. Written by Sarah Wood, barrister and Sophia Kerridge, pupil barrister, at 5 St Andrew’s Hill.

After a winding-up order has been made or a provisional liquidator appointed in a court in England and Wales there is an automatic stay on the commencement or continuance of all actions and proceedings against the company or its property. A party wishing to commence or continue an action must obtain permission to do so from the court. However, there are some claims where permission of the court will not be required because the

There is no automatic stay on the commencement or continuation of proceedings. However, the court may, upon the application of the company, any creditor or contributory, exercise its discretion to stay other proceedings, whether those proceedings had been issued at the time the winding-up

While there is no equivalent to section 130(2) of the Insolvency Act 1986, the court may on the application of a liquidator exercise its power to stay actions and proceedings after the commencement of a voluntary liquidation, whether that is a creditors' voluntary liquidation (an insolvent

See the following content: • Practice Note: Administration actions—removal of personal representatives—practice and procedure, in particular section: Renunciation of the right to administer an estate • Practice Note: Removal, renunciation and retirement

It is possible to rely on cash savings alone and to rely on the cash savings of either the applicant or their applicant’s partner as set out in Immigration Rules, Appendix FM, para E-ECP.3.2.(e), see Practice Note: Minimum income threshold: Category D—cash savings. The amount required if relying on cash savings alone (and there are no children also applying), is £62,500 see Appendix FM financial requirements guidance, Calculating Cash Savings - Appendix FM. Furthermore, it is also clear from Immigration Rules, Appendix FM-SE, para 1(i) that cash savings can include profits from the sale of a 'business, property, investment, bond, stocks, shares or other asset'. However,

For the purpose of this Q&A, we have assumed that enforcement is being sought under Regulation (EC) 44/2001, Brussels I and not Regulation (EU) 1215/2012, Brussels I (recast). This means that the proceedings in which judgment has been given were commenced prior to 10 January 2015 (Article 66 of Regulation (EU) 1215/2012, Brussels I (recast)). CPR provisions CPR 74.9(1) states that when enforcing a judgment that falls within the Judgments Regulation the judgment creditor must comply with Article 43 of the regulation. The Judgments Regulation is defined in CPR 74.1 as: ‘Regulation (EU) No. 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (recast), as amended from time to time and as applied pursuant to the Agreement

Property Disputes analysis: A block of flats was transferred to a buyer without the seller first offering to sell the flats to the qualifying tenants as required by section 1 of the Landlord and Tenant Act 1987 (LTA 1987). The qualifying tenants therefore obtained a court order under LTA 1987, s 19(1) requiring the buyer to transfer the property to their nominee company. After the transfer to the buyer but before the LTA 1987, s 19(1) order was made, the buyer executed a declaration of trust declaring that he held the freehold of the property on trust for the appellant. After the LTA 1987, s 19(1) order was made, the buyer granted equitable leases of two newly created flats to the appellant. The Court of Appeal was asked to consider complex questions affecting whether the ultimate transfer from the buyer to the tenants’ nominee would be subject to the appellant’s beneficial interest in the freehold and his equitable leases. Written by David Harris, professional development lawyer at Browne Jacobson LLP.

Certain real estate joint venture arrangements (JVs) may potentially be subject to onerous and costly regulation under the Alternative Investment Fund Managers Directive 2011/61/EU (AIFMD), as implemented. The AIFMD had to be implemented by EU Member States by 22 July 2013. A transitional period under Article 61(1) of the AIFMD gave AIFMs a year to submit an application for authorisation—this ended on 22 July 2014. The AIFMD framework gives rise to a major change for the real estate funds industry, which previously had been relatively lightly regulated by the collective investment schemes (CIS) regime under section 235 of The Financial Services and Markets Act 2000 (FSMA 2000), and related regulations. Crucially, a JV is subject to the AIFMD, as implemented, if it falls within the definition of alternative investment fund (AIF) in Article 4.1(a) of the AIFMD, even if referred to as a ‘JV’. A JV that falls outside the definition of AIF may still be regulated as a CIS under

In answering this Q&A we have assumed that the company in question is a private company limited by shares. Constitutional or contractual restrictions Before any reduction of capital is considered, a company must check that its articles of association do not prohibit or restrict it from reducing its capital (see section 641(6) of the Companies Act 2006 (CA 2006)). If the articles do contain any restrictions or prohibitions, they will need to be amended by a special resolution, which can be proposed as a separate special resolution at the same time as any special resolution to approve the reduction of capital is proposed (see below). The terms of issue of the redeemable shares in question must also be carefully checked to ensure that they do not prohibit any action which the company wishes

The court’s power to remove a trustee (whether or not replacing them) derives from its inherent jurisdiction (section 41 of the Trustee Act 1925 is concerned with appointing a new trustee). The law as to removal of a trustee can be summarised as follows: The court, in its jurisdiction to see that trusts are properly executed, looks to ensure the custody and administration of the trust property is confided to the care of proper persons. The overriding guide in exercising this inherent jurisdiction of removal is, therefore, to the welfare of the beneficiaries and the competent administration of the trust in their favour (Thomas and Agnes Carvel Foundation v Carvel at para [46]). The court has no hesitation in removing a trustee in the case of misconduct which amounts to an abuse of their position, such as to endanger the trust fund or show a want of proper capacity to execute their duties or of a want of

Relief from the community infrastructure levy (CIL) may be available in certain circumstances for residential annexes or extensions, pursuant to regulations 42A–42C of the Community Infrastructure Regulations 2010, SI 2010/948 (the CIL Regulations), if the relevant requirements of the CIL Regulations are met. CIL Regulations, SI 2010/948, reg 42A sets out an exemption from CIL for residential annexes or extensions which meet certain criteria. It provides that a person is exempt from liability to pay CIL in respect of development if all of the following apply: • that