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Re Brumark Investments Ltd
''Agnew v Commissioners of Inland Revenue'', more commonly referred to as is a decision of the Privy Council relating to New Zealand and UK insolvency law, concerning the taking of a security interest over a company's assets, the proper characterisation of a floating charge, and the priority of creditors in a company winding-up. Facts Brumark Investments Ltd gave security over debts to its bank, Westpac. The terms were that its security was a fixed charge, but a floating charge when proceeds were collected (the same as drafted as in ''Re New Bullas Trading Ltd''). Brumark was free to collect debts for its own account and to use proceeds in its business. Brumark went into receivership. The receivers collected the outstanding debts. Fisher J held that uncollected debts were subject to a fixed charge, as the parties had agreed. So they were not subject to claims of preferential creditors. The NZ Court of Appeal overturned this and held that the fact Brumark could collect the debts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security Interest
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the ''collateral'') which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. One of the most common examples of a security interest is a mortgage: a person borrows money from the bank to buy a house, and they grant a mortgage over the house so that if they default in repaying the loan, the bank can sell the house and apply the proceeds to the outstanding loan. Although most security interests are created by agreement between the parties, it is also possible for a security interest to arise by operation of law. For example, in many jurisdictions a mechanic who repairs a car benefits from a lien over the car for the cost of repairs. This lien arises by operation of law in the absence of any agreement between the parties. Most security interests are grant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Holroyd V Marshall
''Holroyd v Marshall'' (1862) 10 HLC 191, 11 ER 999 was a judicial decision of the House of Lords. In that case the House of Lords affirmed that under English law a person could grant a mortgage or other security interest over future property, ie. property that they did not actually own at the time of granting the charge. Prior to decision, the generally accepted principle under English law was that pursuant to the ''nemo dat'' rule it was impossible for a person to convey a security interest in property which they did not own at the time of granting the charge. The case is also notable in that no less than three persons who were, or one day would be, Lord Chancellor, gave judgments. It is also a rare example of one Law Lord interrupting another during their speech to object to a point in their judgment. Background The case was decided against the backdrop of the industrial revolution in Victorian England. With the expansion of industry, companies were hungry for capital, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2001 In United Kingdom Case Law
1 (one, unit, unity) is a number representing a single or the only entity. 1 is also a numerical digit and represents a single unit of counting or measurement. For example, a line segment of ''unit length'' is a line segment of length 1. In conventions of sign where zero is considered neither positive nor negative, 1 is the first and smallest positive integer. It is also sometimes considered the first of the infinite sequence of natural numbers, followed by 2, although by other definitions 1 is the second natural number, following 0. The fundamental mathematical property of 1 is to be a multiplicative identity, meaning that any number multiplied by 1 equals the same number. Most if not all properties of 1 can be deduced from this. In advanced mathematics, a multiplicative identity is often denoted 1, even if it is not a number. 1 is by convention not considered a prime number; this was not universally accepted until the mid-20th century. Additionally, 1 is the s ... [...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] |
United Kingdom Company 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] |
Re Keenan
Re or RE may refer to: Geography * Re, Norway, a former municipality in Vestfold county, Norway * Re, Vestland, a village in Gloppen municipality, Vestland county, Norway * Re, Piedmont, an Italian municipality * Île de Ré, an island off the west coast of France ** Le Bois-Plage-en-Ré, a commune on that island * Re di Anfo, a torrent (seasonal stream) in Italy * Re di Gianico, Re di Niardo, Re di Sellero, and Re di Tredenus, torrents in the Val Camonica * Réunion (ISO 3166-1 code), a French overseas department and island in the Indian Ocean Music * Re, the second syllable of the scale in solfège ** Re, or D (musical note), the second note of the musical scale in ''fixed do'' solfège * Re: (band), a musical duo based in Canada and the United States Albums * ''Re'' (Café Tacuba album) * ''Re'' (Les Rita Mitsouko album) * ''Re.'' (Aya Ueto album) * ''Re:'' (Kard EP) Other media * Resident Evil, popular video game franchise of survival horror * ''...Re'' (film), a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Siebe Gorman
Siebe Gorman & Company Ltd was a British company that developed diving equipment and breathing equipment and worked on commercial diving and marine salvage projects. The company advertised itself as 'Submarine Engineers'. It was founded by Augustus Siebe , a German-born British engineer chiefly known for his contributions to diving equipment. Siebe plc started in the 1970s as a continuation of Siebe Gorman when Siebe Gorman started to take over other firms, to mean the new conglomerate to distinguish it from Siebe Gorman's original breathing apparatus and diving gear core business. Siebe plc was once one of the United Kingdom's largest engineering businesses. It was a constituent of the FTSE 100 Index but in 1999 it merged with BTR plc to form Invensys. Invensys was taken over by the French multinational Schneider Electric for £3.4 billion in January 2014. History *1788: Augustus Siebe was born in Saxony in Germany, named Christian Augustus Siebe.pages 16 etseq, ''The Inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Templeman
Sydney William Templeman, Baron Templeman, MBE, PC (3 March 1920 – 4 June 2014) was a British judge. He served as a Lord of Appeal in Ordinary from 1982 to 1995. Early life and career Templeman was born on 3 March 1920, the son of Herbert William Templeman (a coal merchant) & his wife Lilian née Pheasant. He was educated at Southall Grammar School and St John's College, Cambridge, where he was a scholar and read History. His studies were interrupted by World War II. In 1941, he was commissioned into the 4 Gorkha Rifles, and saw action on the Northwest Frontier, at Arakan, Imphal, and Burma. For his wartime service, he was mentioned in dispatches, and was demobilised as an honorary Major, and then later appointed an MBE for his war service. After the War, he returned to Cambridge to finish his studies, and read Law. He was called to the bar by the Middle Temple, where he was a Harmsworth Scholar, but joined Lincoln's Inn ''ad eundem'' as a MacMahon Scholar. He also practiced ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Street V Mountford
is an English land law case from the House of Lords. It set out principles to determine whether someone who occupied a property had a tenancy (i.e. a lease), or only a licence. This mattered for the purpose of statutory tenant rights to a reasonable rent, and had a wider significance as a lease had "proprietary" status and would bind third parties. Lord Templeman held that the defining feature of a lease was exclusive possession, despite the fact that this view had been rejected and heavily criticised in a number of Court of Appeal cases previously, for example in the judgment of Denning LJ in '' Errington v Errington''. Facts On 7 March 1983, Roger Street, a Bournemouth solicitor, gave rooms 5 and 6 in No 5 St Clement’s Gardens, Boscombe to Mrs Wendy Mountford for a ‘licence fee’ of £37 a week, terminable on fourteen days’ notice. Mrs Mountford also signed a form saying she understood the Rent Act 1977 did not apply to regulate her rental payments. The Rent Act 1977 at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Bullas
''Re New Bullas Trading Ltd'' 9941 BCLC 485 is a UK insolvency law case, concerning the definition of a floating charge. It held, somewhat controversially, that it was possible to separate a book debt from its proceeds, and that it was possible to create a fixed charge over the book debt but only a floating charge over the proceeds. At the time the decision attracted a great deal of academic commentary, much of it hostile. It is now outdated as authority, being first doubted by the Privy Council in , and then formally overruled by the House of Lords in . Facts New Bullas Trading Ltd granted a charge over book debts in favour of 3i plc. It said this was a fixed charge over the uncollected debts and a floating charge over their proceeds, which went into a designated bank account (or another one that 3i could specify in writing). Knox J held this was impossible. He said there was a floating charge throughout, so the company’s preferential creditors were entitled in an admin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
In Re Yorkshire Woolcombers Association Ltd
''Illingworth v Houldsworth'' 904AC 355 (known as or ''Re Yorkshire Woolcombers Association'' in the Court of Appeal) is a UK insolvency law case, concerning the taking of a security interest over a company's assets with a floating charge. In the Court of Appeal Romer LJ held that a key to a floating charge, as opposed to a fixed charge was that the company can carry on its business with assets subject to the charge. The case is fairly unusual in English law in that is more frequently cited for the Court of Appeal's decision than for the subsequent decision of the House of Lords. This is principally because of the attempt by Romer LJ to describe or define the core characteristics of a floating charge. Despite stating explicitly: "I certainly do not intend to attempt to give an exact definition of the term 'floating charge,'" his description has been almost universally accepted and endorsed. The three core characteristics which he identified were: # The charge is on a class ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Act 1862
The Companies Act 1862 (25 & 26 Vict. c.89) was an Act of the Parliament of the United Kingdom regulating UK company law, whose descendant is the Companies Act 2006. Provisions *s 6 'Any seven or more persons associated for any lawful purpose may, by subscribing their names to a memorandum of association, and otherwise complying with the requisitions of this Act in respect of registration, form an incorporated company, with or without limited liability.' *s 8 'Where a company is formed on the principle of having the liability of its members limited to the amount unpaid on their shares, hereinafter referred to as a company limited by shares, the Memorandum of Association shall contain the following things' the third of which was 'objects for which the proposed company is to be established.' *s 11 'The memorandum of association... shall, when registered, bind the company and the members thereof to the same extent as if each member had subscribed his name and affixed his seal thereto, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
