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Delay in outlawing bans on assignment
The Department for Business, Innovation & Skills (“BIS”) announced its intention to bring forward legislation outlawing bans on assignment in commercial contracts as long ago as December 2014.
Continue ReadingBills of Sale Reform
On 12 September 2016 the Law Commission published its final report containing proposals to modernise the archaic Bills of Sale regime. The driver for reform was the increased use of logbook loans in the consumer vehicle finance market, but the registration of whole turnover invoice finance agreements with sole traders and partnerships as Bills of Sale also fell to be considered.
Continue ReadingInvoice Finance and the Consumer Credit Act
There remains a degree of confusion as to the extent to which invoice financiers are affected by the provisions of the Consumer Credit Act 1974 as now amended by the Financial Services and Markets Act 2000. This is not helped by the fact that some of the statutory provisions are amongst the most opaque anywhere on the statute book, which is largely as a result of the piecemeal way in which the various European directives have been incorporated into UK law over the last 30 years.
Continue ReadingRebates: Set off – some thoughts
There was considerable disappointment amongst invoice financiers who operate factoring facilities when the Court of Appeal rejected the recent attempt to strengthen a funder’s position against a debtor who remained silent about a historical rebate claim which only emerged after the demise of the client.
Continue ReadingNew Edition of Guide to Invoice Finance Law
The New Year will see the publication of 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, including an Appendix setting out differences between English and Scots law.
Continue ReadingGetting your Ducks in a Row Prior to Investment or Exit
The next chapter for your business may involve raising finance from external investment, be that through debt or equity, making your exit for your next project or stepping away from your business as your career reaches its twilight.
Continue ReadingPokemon GO..to Court?
Imagine the scene, dear readers, in the Manchester Law Society Messenger Editorial Committee meeting, when some fool looking to fill column inches suggested an article about legal issues relating to an app based around misguided 90s nostalgia. I am that fool.
Continue ReadingLandlord OR Tenant ?– We can help !
Did you know?
Despite the end of the agreed term lease, tenants of business premises have the right to remain in occupation of the premises, and the right to apply to the Court (if necessary) for the grant of a new lease.
Continue ReadingPension Changes & New Death Benefit Rules
Since the arrival of the Pension changes on 6 April 2015 many people have overlooked the new Death Benefit Rules and Inheritance Tax (IHT) planning opportunities available for a defined contribution pensions scheme.
Continue ReadingAre we about to see an increase in Employment Tribunal claims?
Fees were introduced into the Employment Tribunal system on 29 July 2013, with claimants being required to pay a fee to issue their claim and another fee in order to progress their claim to a final hearing before an Employment Judge. In addition, parties are now also required to pay fees for things like reconsideration of judgments or dismissal of claims after they have been withdrawn.
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