Arbitration Act 1986 meaning

Restructuring & Insolvency weekly highlights—19 December 2024 In this issue: Key R&I law developments Corporate insolvency processes Directors and insolvency Insolvency litigation Creditors’ participation R&I in Scotland International restructuring and insolvency Daily and weekly news alerts Key dates for restructuring and insolvency professionals New Practice Note—Restructuring and insolvency Highlights 2024/2025 Key R&I law developments Insolvency Service publishes monthly insolvency statistics for November 2024 The Insolvency Service has issued its November 2024 statistics for England and Wales, covering both corporate and individual cases. There were 1,966 corporate insolvencies—13% higher than October 2024, yet 12% down on November 2023. Individual insolvencies reached 10,012, a 12% rise from October 2024 and 25% above November 2023. See: LNB News 17/12/2024 35. Corporate insolvency processes What comprises an ‘unregistered company’ under section 220(1) of the Insolvency Act 1986? (East Riding of Yorkshire Council v KMG) KMG (the Fund) is an investment fund established in...

Banking & Finance—July 2025 case round-up Ciddy Ltd v Natalia [2025] EWHC 1616 (Ch) Loan agreement—unenforceable penalty clause The Chancery Division dismissed the bankruptcy petition presented by the petitioner, Anjana Natalia, against the debtor, Ms Ella Vacani. The petitioner sought to recover £657,516.32 said to arise from a loan contract, asserting that the debtor, a professional accountant, had taken legal advice before signing. The debtor, by contrast, maintained that the parties’ relationship was unfair because of unequal understanding, coercive control exerted by her husband, and an excessive default interest rate that, she said, constituted an unenforceable penalty clause. The court identified substantial grounds to challenge the petition, grounded in the debtor’s allegations of an unfair relationship under the Consumer Credit Act 1974 and a penalty default term within the agreement. It held that the issues concerning default interest and unfairness were not fanciful and ought to be determined by the County Court. Accordingly, any sums due to the petitioner, if any, remain to be established in separate...

In this issue: Transferring property Residential tenancies Investigating title Commercial real estate finance Property development Environment, energy and buildings Property in Wales LexTalk®Property: a Lexis®Nexis community Additional property updates this week Daily and weekly news alerts Trackers New Q&A Transferring property ‘Declaration of trust’ signed by agent did not defeat claim for transaction at undervalue In National Iranian Oil Company v Crescent Gas Corp Ltd [2025] EWCA Civ 1211, the Court of Appeal, Civil Division, dismissed an appeal, ruling that sub-section 53(1)(b) of the Law of Property Act 1925, requires written proof of a declaration of trust relating to land to be signed personally by the individual with authority to declare it, not by an agent, and that, absent such compliant proof, the trust cannot be relied upon to effectively resist insolvency ‘transaction at an undervalue’ claims under section 423 of the Insolvency Act 1986. The dispute arose from CGC’s assertion...

This Practice Note covers: the impact of an insolvency process on ongoing litigation where the debtor, bankrupt or insolvent company is a claimant or defendant how an insolvency process interacts with an arbitration agreement binding the debtor, bankrupt or insolvent company additional considerations in a cross-border setting Personal insolvency What happens when the bankrupt is a claimant in ongoing proceedings? The presentation of a bankruptcy petition, whether by a creditor or by the debtor, has no legal consequence for proceedings already on foot where the debtor is the claimant. Once a bankruptcy order is made and a trustee in bankruptcy (the trustee) is appointed, most causes of action in which the bankrupt has an interest vest in the trustee under section 306 of the Insolvency Act 1986 (IA 1986). In such circumstances, it is the trustee, rather than the bankrupt, who has standing to carry on the claim. The trustee will proceed only if that course best serves the interests...

Class actions—Australia—Q&A guide This Practice Note provides a jurisdiction-focused Q&A on Australian class actions, produced within the Lexology Getting the Deal Through series by Law Business Research (law as at 14 October 2022). Authors: Clayton Utz—Andrew Morrison; Colin Loveday 1. Outline the organisation of your court system as it relates to collective or representative actions (class actions). In which courts may class actions be brought? Australia’s Federal Court operates a statutory framework for representative proceedings. That framework is set out in Part IVA of the Federal Court of Australia Act 1976 (Cth) (representative proceedings). Closely comparable provisions apply in the Supreme Court of Victoria under Part 4A of the Supreme Court Act 1986 (Vic). Since March 2011, the Supreme Court of New South Wales (NSW) has maintained its own, distinct class action mechanism. This pathway permits proceedings where claims are founded on negligence or allege contraventions of New South Wales legislation. There are a number of material distinctions between the NSW class action model and the...

Agricultural Holdings Act 1986 Under the Agricultural Holdings Act 1986 (AHA 1986), either party—the landlord or the tenant—may require that the ‘rent properly payable’ for the holding ‘from the next termination date’ be fixed by arbitration or by a third party. The ‘next termination date’ is the earliest point at which the tenancy could have been brought to an end by a notice to quit served on the date of the demand. In practice, this is the first anniversary of the term date falling not less than 12 months after the rent review demand. As framed, this statutory mechanism cannot be used to force a rent review for a fixed term tenancy, because only yearly tenancies are capable of determination by notice to quit (this includes fixed terms that have continued under AHA 1986, s 2 once the fixed period has expired). The apparent sole exception is where the fixed term is ‘broken’ by a clause or occurrence that ends it before the full term runs its course...