The Business Contract Terms (Assignment of Receivables) Regulations 2018 (the “Regulations”) are a positive benefit for both Asset-Based Lenders and SMEs as it will make working capital available to more SMEs through receivables financing....
HMRC is currently an unsecured creditor in an insolvency process for tax debts. The Finance Bill 2019-20 will make HMRC a secondary preferential creditor for VAT and certain tax debts paid by employees and customers in insolvency proceedings commenced on or...
Whilst simple contracts and deeds can be executed using electronic signatures, there remains uncertainty around the legal validity of documents executed electronically and legislation would help clarify how contracts should be executed in an electronic...
On 1 October 2019, the VAT domestic reverse charge is being introduced under the Value Added Tax (Section 55A) (Specified Services and Excepted Supplies) Order 2019 . In preparation for the change, discounters should review all facilities...
Figures released by the Ministry of Justice at the beginning of June show a further rise in the number of claims being issued in the County Court. In the three months ending on 31 March 2019, 538,000 claims were issued in the County Court, with nearly 87% of...
Despite reassurances from Debenhams’ chairman and CEO, suppliers of the department store will be understandably concerned by the recent press coverage of its woes. After all, it is common for suppliers of large retailers to suffer when those retailers...
Yes, ban on assignment clauses can prevent receivables financiers from claiming compensation for breach of warranty. But they need not prevent the creation of a trust in the financier’s favour or their clients from paying them the proceeds of the...
Francis Wilks & Jones successfully defended Mr Rosser, the first defendant in the proceedings, against a claim that was brought by the Liquidators of Instant Access Properties Limited (in Liquidation) (“the Company”) against the de jure...
How do you trace digital currency as an asset when it is designed to avoid tracking? How do you ensure the full and ongoing cooperation of pursued individuals in order to identify and liquidate digital currency? Do creditors always have a proprietary claim to digital assets?
The Supreme Court has handed down an important decision on the proper construction of Section 21(1) (b) of the Limitation Act 1980 (“the Act”), which waives the six-year limitation for claims brought in respect of any claim for trust property. ...
