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Re Shoe Lace Ltd
''Re Shoe Lace Ltd'' 9941 BCLC 111 is a leading UK insolvency law case, concerning voidable transactions. Facts The liquidator of Shoe Lace Ltd sought a declaration that a debenture given to Sharp Investments Ltd, which owned 80 per cent of Shoe Lace and was part of a group controlled by the alleged shadow director Mr Mahtani who lived in Ratingen, was invalid under the Insolvency Act 1986 section 245 because it was created after payments to the company. Shoe Lace had shoe shops in Lancashire and Yorkshire Yorkshire ( ; abbreviated Yorks), formally known as the County of York, is a Historic counties of England, historic county in northern England and by far the largest in the United Kingdom. Because of its large area in comparison with other Eng ... but was hopelessly insolvent by April 1990. It gave a debenture to Sharp Investments Ltd secured with a floating charge over the whole undertaking on 24 July. Sharp gave it £300,000 on 3 April, £50,000 in May and £11,500 i ... [...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] |
Shadow Director
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ratingen
Ratingen ( li, Rotinge) is a town in the district of Mettmann in North Rhine-Westphalia, Germany. It lies in the northwestern part of Berg about 12 km northeast of Düsseldorf. Administration With a communal reform of 1975 the independent municipalities of Breitscheid, Eggerscheidt, Hösel, Lintorf (seat Angerland) as well as the local part of Homberg and the municipality of Homberg-Meiersberg (seat Hubbelrath) were added into the city of Ratingen. History Ratingen was settled before 849. Since the Middle Ages, the Ratingen area belonged to the count and later dukes of Berg. On December 11, 1276 the settlement received city rights. Ratingen was one of the four places of Berg which experienced an economic boom in the end of the Middle Ages, but slowed during the Thirty Years' War. At the beginning of the Industrial Age, the first manufacturing plants opened in 1783. In Cromford the first mechanical spinnery of Europe opened, which grew into the ''Textilfabrik Cromford'', ... [...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] |
Lancashire
Lancashire ( , ; abbreviated Lancs) is the name of a historic county, ceremonial county, and non-metropolitan county in North West England. The boundaries of these three areas differ significantly. The non-metropolitan county of Lancashire was created by the Local Government Act 1972. It is administered by Lancashire County Council, based in Preston, and twelve district councils. Although Lancaster is still considered the county town, Preston is the administrative centre of the non-metropolitan county. The ceremonial county has the same boundaries except that it also includes Blackpool and Blackburn with Darwen, which are unitary authorities. The historic county of Lancashire is larger and includes the cities of Manchester and Liverpool as well as the Furness and Cartmel peninsulas, but excludes Bowland area of the West Riding of Yorkshire transferred to the non-metropolitan county in 1974 History Before the county During Roman times the area was part of the Bri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yorkshire
Yorkshire ( ; abbreviated Yorks), formally known as the County of York, is a Historic counties of England, historic county in northern England and by far the largest in the United Kingdom. Because of its large area in comparison with other English counties, functions have been undertaken over time by its subdivisions, which have also been subject to History of local government in Yorkshire, periodic reform. Throughout these changes, Yorkshire has continued to be recognised as a geographic territory and cultural region. The name is familiar and well understood across the United Kingdom and is in common use in the media and the Yorkshire Regiment, military, and also features in the titles of current areas of civil administration such as North Yorkshire, South Yorkshire, West Yorkshire and the East Riding of Yorkshire. Within the borders of the historic county of Yorkshire are large stretches of countryside, including the Yorkshire Dales, North York Moors and Peak District nationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debenture
In corporate finance, a debenture is a medium- to long-term debt instrument used by large companies to borrow money, at a fixed rate of interest. The legal term "debenture" originally referred to a document that either creates a debt or acknowledges it, but in some countries the term is now used interchangeably with bond, loan stock or note. A debenture is thus like a certificate of loan or a loan bond evidencing the company's liability to pay a specified amount with interest. Although the money raised by the debentures becomes a part of the company's capital structure, it does not become share capital. Senior debentures get paid before subordinate debentures, and there are varying rates of risk and payoff for these categories. Debentures are freely transferable by the debenture holder. Debenture holders have no rights to vote in the company's general meetings of shareholders, but they may have separate meetings or votes e.g. on changes to the rights attached to the debentures ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Floating Charge
A floating charge is a security interest over a fund of changing assets of a company or other legal person. Unlike a fixed charge, which is created over ascertained and definite property, a floating charge is created over property of an ambulatory and shifting nature, such as receivables and stock. The floating charge 'floats' or 'hovers' until the point at which it is converted ("crystallised") into a ''fixed charge'', attached to specific assets of the business. This crystallisation can be triggered by a number of events. In most common law jurisdictions it is an implied term in the security documents creating floating charges that a cessation of the company's right to deal with the assets (including by reason of insolvency proceedings) in the ordinary course of business leads to automatic crystallisation. Additionally, security documents will usually include express terms that a default by the person granting the security will trigger crystallisation. In most countries float ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dinosaur
Dinosaurs are a diverse group of reptiles of the clade Dinosauria. They first appeared during the Triassic period, between 243 and 233.23 million years ago (mya), although the exact origin and timing of the evolution of dinosaurs is the subject of active research. They became the dominant terrestrial vertebrates after the Triassic–Jurassic extinction event 201.3 mya; their dominance continued throughout the Jurassic and Cretaceous periods. The fossil record shows that birds are feathered dinosaurs, having evolved from earlier theropods during the Late Jurassic epoch, and are the only dinosaur lineage known to have survived the Cretaceous–Paleogene extinction event approximately 66 mya. Dinosaurs can therefore be divided into avian dinosaurs—birds—and the extinct non-avian dinosaurs, which are all dinosaurs other than birds. Dinosaurs are varied from taxonomic, morphological and ecological standpoints. Birds, at over 10,700 living species, are among ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ralph Gibson (judge)
Sir Ralph Brian Gibson (17 October 1922 – 30 October 2003) was a British barrister, Lord Justice of Appeal of the Court of Appeal of England and Wales, and Chairman of the Law Commission. Education and early years Gibson was educated at Charterhouse School and graduated from Brasenose College, Oxford. His studies at Oxford were interrupted by World War II, during which he served in the 1st King's Dragoon Guards in North Africa as an armoured car driver and instructor, and the Transjordan Frontier Force. At Oxford he became a close personal friend of Tony Benn. In 1949 he was best man at Benn's wedding. After Oxford he spent a year at the University of Chicago as a teaching fellow, where he met and married Ann Ruether, a Chicago native who was part of the University faculty. Career He was called to the Bar by the Middle Temple in 1948, and took silk In the United Kingdom and in some Commonwealth countries, a King's Counsel ( post-nominal initials KC) during the reign ... [...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] |
