|
Arbuthnot Leasing International Ltd V Havelet Leasing Ltd (No 2)
''Arbuthnot Leasing International Ltd v Havelet Leasing Ltd (No 2)'' 990BCC 636 is a leading UK insolvency law case, concerning a fraudulent transaction under the Insolvency Act 1986 section 423. Facts Arbuthnot sought a declaration that Havelet Leasing Ltd, whose plane and coach hire business had gone insolvent, had defrauded its creditors by transferring its business, assets and contracts to the related Havelet Leasing Finance Ltd. Arbuthnot had financed part of Havelet's business, and it owned some of the vehicles which were leased to Havelet. When Havelet fell into arrears, Arbuthnot obtained a judgment and appointed a receiver. They then found that Havelet had transferred its business, assets and benefits of all Havelet's agreements to a third company (Havelet Leasing Finance Ltd). Havelet's lessees were paying Havelet Leasing Finance, which in turn paid Havelet in quarterly arrears. This was contended to be a fraudulent scheme to elevate the owner of Havelet in priority aft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Insolvency Law
United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While UK bankruptcy law concerns the rules for natural persons, the term insolvency is generally used for companies formed under the Companies Act 2006. "Insolvency" means being unable to pay debts. Since the Cork Report of 1982, the modern policy of UK insolvency law has been to attempt to rescue a company that is in difficulty, to minimise losses and fairly distribute the burdens between the community, employees, creditors and other stakeholders that result from enterprise failure. If a company cannot be saved it is "liquidated", so that the assets are sold off to repay creditors according to their priority. The main sources of law include the Insolvency Act 1986, the Insolvency Rules 1986 (replaced in England and Wales from 6 April 2017 by the Insolvency Rules (England and Wales) 2016 – see below), the Company Directors Disqualification Act 1986, the Employment Rig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraudulent Conveyances Act 1571
The Fraudulent Conveyances Act 1571 (13 Eliz 1, c 5), also known as the Statute of 13 Elizabeth, was an Act of Parliament in England, which laid the foundations for fraudulent transactions to be unwound when a person had gone insolvent or bankrupt. In the United Kingdom, the provisions contained in the 1571 Act were replaced by Part IX of the Law of Property Act 1925, which has since been replaced by Part XVI of the Insolvency Act 1986. Text It is clear from the text of the statute that it was framed in a purposive manner. So if someone had the intention of defrauding a creditor, unless a transaction was made ''bona fide'' and for good consideration, it would be void. Historical background In 1571, Parliament enacted this statute to prohibit transfers intended to defraud creditors or impede their collection efforts. This statute, known as the Statute of 13 Elizabeth, was passed in response to the widespread use of fraudulent transactions to defeat creditors. Until the 1600s, En ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Property Act 1925
The Law of Property Act 1925c 20 is a statute of the United Kingdom Parliament. It forms part of an interrelated programme of legislation introduced by Lord Chancellor Lord Birkenhead between 1922 and 1925. The programme was intended to modernise the English law of real property. The Act deals principally with the transfer of freehold or leasehold land by deed. The LPA 1925, as amended, provides the core of English land law, particularly as regards many aspects of freehold land which is itself an important consideration in all other types of interest in land. Background The keynote policy of the act was to reduce the number of legal estates to two – freehold and leasehold – and generally to make the transfer of interests in land easier for purchasers. Other policies were to regulate mortgages and as to leases, to regulate mainly their assignment, and to tackle some of the '' lacunae'', ambiguities and shortcomings in the law of property. Innovations included the default c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency Act 1986
The Insolvency Act 1986c 45 is an Act of the Parliament of the United Kingdom that provides the legal platform for all matters relating to personal and corporate insolvency in the UK. History The Insolvency Act 1986 followed the publication and most of the findings in the Cork Report, including the introduction of the Individual Voluntary Arrangement (IVA) and Company Voluntary Arrangement (CVA) procedures. Elements of the Act have been updated by the Enterprise Act 2002 which came into enforcement on 1 April 2004 and introduced amongst other things the popular "out-of-court" administration route.Lyndon Norley, Kirkland & Ellis International LLP and Joseph Swanson and Peter Marshall, Houlihan Lokey (2008). A Practitioner's Guide to Corporate Restructuring. City & Financial Publishing, 1st edition Those considering the main Act should also refer to the Insolvency Rules 1986 and numerous Regulations and other amending legislation since 1986, and also to the best practice which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alderson V Temple
is a UK insolvency law case, concerning voidable transactions under what was the Fraudulent Conveyances Act 1571, and what is now the Insolvency Act 1986 section 423. Facts On Saturday morning Alderson (recorded as A.B. in the report) committed acts of bankruptcy. On Friday morning, Alderson had posted a £600 note from London to Temple, one of his creditors in Trowbridge, in return for two £300 notes. Temple’s two notes arrived on Monday. The assignees of Alderson brought an action for the value of the note. They argued, first, that the transfer of the note did not take effect merely by putting it in the post, and second, that it was an unlawful preference under the Fraudulent Conveyances Act 1571. Judgment Lord Mansfield CJ held the Fraudulent Conveyances Act 1571 applied, not just to fraudulent conveyances, but also the granting of fraudulent preferences, and Alderson's actions were void. Yates J, Aston J and Willes J concurred. See also *UK insolvency law Unit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Insolvency Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High Court Of Justice Cases
High may refer to: Science and technology * Height * High (atmospheric), a high-pressure area * High (computability), a quality of a Turing degree, in computability theory * High (tectonics), in geology an area where relative tectonic uplift took or takes place * Substance intoxication, also known by the slang description "being high" * Sugar high, a misconception about the supposed psychological effects of sucrose Music Performers * High (musical group), a 1974–1990 Indian rock group * The High, an English rock band formed in 1989 Albums * ''High'' (The Blue Nile album) or the title song, 2004 * ''High'' (Flotsam and Jetsam album), 1997 * ''High'' (New Model Army album) or the title song, 2007 * ''High'' (Royal Headache album) or the title song, 2015 * ''High'' (EP), by Jarryd James, or the title song, 2016 Songs * "High" (Alison Wonderland song), 2018 * "High" (The Chainsmokers song), 2022 * "High" (The Cure song), 1992 * "High" (David Hallyday song), 1988 * " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
