3 Verulam Buildings (3VB)
11 Experts
5 Contributions by 3 Verulam Buildings (3VB) Experts
PRACTICE NOTES
The position of a personal pension on bankruptcy
Once a bankruptcy order is made, the bankrupt’s estate automatically passes to the official receiver, or to an insolvency practitioner appointed at that time, who serves as the first trustee in bankruptcy. Certain items are excluded, such as tools and equipment needed for the bankrupt’s trade, and clothing and similar essentials necessary to meet basic domestic needs. This Practice Note explains what happens to an individual’s pension entitlements when a bankruptcy order is made. It looks at the impact of bankruptcy on occupational, personal and state pension arrangements.
Bankruptcies predating 29 May 2000
This section applies to individuals made bankrupt following bankruptcy petitions lodged before 29 May 2000. Rights gained under personal and occupational pension schemes are generally recoverable by the trustee in bankruptcy. A debtor’s contractual rights under these arrangements are treated as choses in action within the broad
Restructuring & Insolvency
PRACTICE NOTES
E&W Brussels I (recast) and proceedings in third states (arts 33 and 34) [Archived]
ARCHIVED: This Practice Note is archived and is not maintained.
This Practice Note explores the effect of Regulation (EU) 1215/2012, Brussels I (recast) where identical or related proceedings are pending before the courts of a non‑EU Member State (commonly called a third state). The principal provisions engaged are Articles 33 and 34 of Regulation (EU) 1215/2012, Brussels I (recast). It also discusses how the relevant provisions apply to the UK as a third state following its departure from the EU, subject to the application of transitional provisions in the Withdrawal Agreement. For general guidance on these articles, together with other provisions of the regulation pertinent to third states, see Practice Note: E&W Brussels I (recast)—application to third states [Archived].
Articles 33 and 34
Articles 18(1), 21(2), 24, 25 and
Dispute Resolution
PRACTICE NOTES
This Practice Note
This Practice Note outlines the narrow bases on which a party to international arbitration may seek the correction, review or interpretation of an award from either the arbitral tribunal or the administering institution, under institutional rules including:
International Court of Arbitration of the International Chamber of Commerce (ICC)
London Court of International Arbitration (LCIA)
Hong Kong International Arbitration Centre (HKIAC)
Singapore International Arbitration Centre (SIAC)
Dubai International Arbitration Centre (DIAC)
International Centre for Dispute Resolution (ICDR)
United Nations Commission on International Trade Law (UNCITRAL) arbitration rules
It also considers whether, under these frameworks, parties may challenge or appeal arbitral awards before tribunals or institutions, where applicable, and concludes that such avenues are generally unavailable within the institutional process and must instead be pursued before the courts at the seat of
Arbitration
PRACTICE NOTES
This Practice Note explores how to identify contracts of insurance in English law. It looks at what amounts to a contract of insurance from the viewpoints of UK legislation and the common law, and the regulatory consequences of falling within that category.
The problem
The task of pinpointing which commercial arrangements ought properly to be treated as ‘contracts of insurance’ in English law is longstanding. Successive lawmakers have sought to regulate insurance and insurers, in one form or another, since Elizabethan times. Owing to the pragmatic bent of the English legal tradition, there is still no settled legal definition of a contract of insurance in English law, even though, in 2023, the UK was estimated to possess the world’s third‑largest insurance sector, with total gross written premiums of £300Bn.
The European interlude
From the UK’s entry into the European Common Market in 1972 until IP
Insurance & Reinsurance
PRACTICE NOTES
The principle defined
Company decisions are taken by shareholders through resolutions. A company’s resolution can be validly approved in three ways:
by employing the statutory written resolution procedure (available only to private companies and subject to specified exceptions) (see Practice Note: Written resolutions for further details on this process)
at a meeting of the company’s members, duly convened and conducted in accordance with the Companies Act 2006 (CA 2006) or the company’s articles of association (see Practice Note: Member resolutions for further information)
where applicable, under the Duomatic principle, described in Re Duomatic Ltd as: '...where it can be shown that all shareholders entitled to attend and vote at a general meeting agree to a matter that such a meeting could give effect to, that agreement is as binding as a resolution would generally be.' It has subsequently been restated as: 'The essence of the Duomatic
Corporate
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