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Article
Manifest error: how obvious must it be?
In this insight we outline the meaning and effect of ‘manifest error’ and discuss a case that highlights these issues in detail.
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Article
Can a member of an LLP charge their interest in that LLP?
When a shareholder charges shares it owns in a private company, the charged asset is easily identifiable and the legal process is relatively straightforward: an equ…
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Article
The Consumer Credit Act and the business purpose exemption
Lenders often rely on the business purposes exemption under the Consumer Credit Act 1974 when lending to individuals. It’s essential for lenders to follow the requi…
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Article
Top tips: intercreditor arrangements
When you are not the only lender to a company or group, it can be daunting trying to fairly balance the commercial needs of the other creditors and at the same time…
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Article
Corporate update: the latest corporate law developments March 2023
In this month’s update we consider a case in which a typed first name in an email was held to be a written signature; explain the benefits of including a limitation…
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Article
A company's powers: what are the restrictions and what do lenders need to look out for?
We discuss how an older company's powers can be restricted and why a prudent lender should check a company has the legal capacity to enter into any proposed transac…
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Article
The significance of commercial benefit when granting a guarantee
This guide explores the issues surrounding commercial benefits for guarantors and provides some top tips.
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Article
Quorum provision in articles prevented sole director from acting
The High Court has considered the interaction between provisions in a company's articles of association, holding that a requirement for a quorum of two directors pr…
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Article
Criminal risks of loans to defined benefit pension employers
In this article we look at how lenders could be exposed to criminal liability under the Pension Schemes Act 2021 when financing a borrower where there is a defined …
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Article
Common questions: signing documents
It is crucial that the finance documents on any banking transaction are executed correctly, in this update we consider some common questions about the signing of de…