‘FinTech’ or financial technology is a phrase increasingly used in the media, the finance sector and the business world in general. In the broadest sense, financial technology is any technology that is used and applied in the financial services sector which improves the delivery of financial services. But what does that mean and why should you care that it is one of the fastest growing areas for venture capitalists or that the sector generated almost £7billion revenue in 2016?
The Neuberg family operated a business producing light metal products and traded under the name Neuberg Metal Spinners for many years. In 1998 a company operated by Mr Neuberg called Neuberg Metal Spinners Limited went into liquidation. Despite this, the family business continued to trade under the name Neuberg Metals but through a new company, Watergate Services Limited, of which Mrs Neuberg was the sole director and secretary.
You buy (or think you buy) a vacant investment property. You complete the purchase and all goes smoothly until you get a visit from someone who says he is the owner and that he never sold you anything…
We are pleased to announce that the fifth edition of our popular Guide to Asset Finance Law is now published and ready to distribute. The guide provides up-to-date relevant legislative and case law developments.
A recent case between a foreign bank and BP Oil as assignor on somewhat unusual facts required the court to examine the principles of assignment of contract rights, and resulted in a very expensive lesson for the assignor.
On 15 March 2017 the Government published draft new Regulations intended to implement the Fourth Money Laundering Directive ((EU) 2015/849) (“MLD4”) that needs to be transposed into UK law by 26 June 2017.
We are pleased to announce that we have very recently published the fourth edition of our popular Guide to Invoice Finance Law , which brings the previous third edition published in 2012 right up-to-date with relevant legislative and case law developments.
The process of replacing the Insolvency Rules 1986 and 28 subsequent amendments has necessarily involved difficult balancing exercises between the interests of numerous stakeholders, but the general consensus among creditors is that The Insolvency (England and Wales) Rules 2016 (SI 2016/1024) (“IR 2016”) which came into force on 6 April 2017 are likely to significantly improve the insolvency process for most creditors.
The implementation of the supplemental 3% stamp duty land tax (‘SDLT’) charge came into force on 1 April 2016. Bermans has previously looked at the impact of the higher rates of SDLT, particularly in relation to its effect on individual joint purchasers, in an article that can be found here. In this article we look at the charges in relation to companies, partnerships, trusts and inherited properties.
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