In certain circumstances the insolvency regime in England and Wales allows phoenix companies to form from the remains of an insolvent company. This includes using the same or similar name to the failed company. The regime however requires strict adherence to its provisions, failure of which may result in a fine, imprisonment and/or the directors […]
A Warning: Directors of Insolvent Companies Read More »
Book now to avoid disappointment Summit Law LLP invites you to their Shareholder Dispute Seminar at 6 PM on Wednesday, 2 April 2014 at Lincoln Inn’s prestigious Old Court Room. Please book by emailing info@summitlawllp.co.uk or calling (020) 7467 3980. Tactical considerations Introduction. In last week’s blog we looked at “unfair prejudice”. This week we
Shareholder and Director Disputes – Blog 5 Read More »
Introduction In last week’s blog we looked at who could complain to the court. This week we examine the meaning of “unfair prejudice”. S.994 petition Perhaps the greatest protection that your client has as a minority shareholder, is a right to petition the court for an order under section 994 Companies Act 2006 which provides
Shareholder and Director Disputes – Blog 4 Read More »
Part 3 – Who can complain to the Court? The ability to petition the Court under s.994 Companies Act 2006 to complain about unfair prejudice in relation to the management of “the company’s affairs” is generally confined to a person who is a “member” of the company. In substance this means a person who is
Shareholder and Director Disputes – Blog 3 Read More »
Following last week’s introductory blog on shareholder disputes, we move on to consider Shareholder Agreements and how to try and avoid such conflicts. Part 2: “Prevention is better than cure” Shareholder Agreements and avoiding conflict. If your clients are wise enough to consult you before they go into business together recommending a written shareholders’ agreement
Shareholder and Director Disputes – Blog 2 Read More »
Welcome to Summit Law’s first Shareholder and Director Disputes, Blog. Part 1: A corporate divorce? It is said that January is a busy month for divorce lawyers, but it is also frequently a time when shareholders, decide that they need to make a break with each other and start afresh. Clients naturally turn in the
Shareholder and Director Disputes – Blog 1 Read More »
Do you have a potential insurance claim against a bankrupt or company in liquidation? Perhaps you had a claim against an individual or company and it has since been declared insolvent. Or you could be an insurer and your insured has been declared insolvent. If so the following article may be of interest. Third Parties
Third Parties (Rights against Insurers) Act 2010 Read More »
Whilst the decision in the case of Meah-v-G E Money Home Finance Ltd [2013] EW CH 20 (Ch.) was unsuccessful and related to a mortgagee in possession, there are nevertheless lessons to be learnt. The case serves as a reminder to take care to adopt best practice when selling. Mortgage lenders in particular are always
Trustees be aware – Do not sell that repossessed property at an under value! Read More »
Is there a month that goes by when banks do not suffer from some form of adverse publicity? Claims by disgruntled employee bankers; Litigation against directors of loss-making banks; The LIBOR-fixing scandal; And as we have reported previously, interest rate swap (IRS) claims. These are just a few of the financial services disputes that appear
Banks – You have to love them – or do you? Read More »
Construction lawyers are extremely familiar with contractual penalty clauses. Recently however contractual law and the issue of penalties in particular has again come under the judicial microscope in two reported cases:- Iman-Sadeque-v-Bluebay Asset Management (Services) Limited [2012] EWHC 3511 (QB) and Cavendish Square Holdings BV and another-v-El Makdessi [2012] EWHC 3582 (Comm) It is important
Red Card for a Penalty? Read More »
