Tangible assets meaning

This checklist outlines the points to consider when a company plans to grant a pledge. It assumes a company incorporated in England or Wales is granting a pledge to a lender located in England or Wales. In this checklist: the company giving the pledge is the ‘pledgor’ the party in whose favour the pledge is given is the ‘pledgee’ the document setting out the pledge is the ‘security document’ Preliminary questions before taking security by way of a pledge Is a pledge the appropriate method of taking security? Is the asset of a type that can be pledged? Assets capable of being pledged include: goods (that is, tangible, moveable items such as precious metals or other commodities) documents of title to goods or intangible assets where title can pass by delivery of a document (for example, bills of lading and sea waybills, or bearer securities—the latter now rare in practice), so...

Vesnin v Queeld Ventures Ltd and another company [2025] EWHC 104 (Ch) What are the practical implications of this case? The ruling is of practical and procedural importance for practitioners working on cross-border insolvency and asset recovery. It confirms that a party must show a legitimate interest in the bankruptcy to have standing to resist a common law recognition application—such as a creditor, the bankrupt, or a party with a concrete economic stake in the bankruptcy acting in the same capacity from which that stake arises. A merely commercial or tactical interest—like attempting to thwart a claim to title to shares, as here—is insufficient. Advisers for prospective respondents should therefore consider whether their clients possess the requisite interest in the bankruptcy and advise accordingly. The court did not define what amounts to a tangible economic interest in the insolvency, though possible classes could include: beneficiaries of a trust forming part of the bankrupt’s estate; a secured creditor with rights over assets within the estate;...

Largely, these changes extend the so‑called productive finance push the chancellor has backed since summer 2023, alongside efforts to lift outcomes for defined contribution (DC) pension savers through the value for money (VFM) framework and the lifetime provider model. The strands are closely connected, and the legal and operational issues for pensions professionals run across all three. Although further specifics are awaited, it is already evident that trustees and providers will have to fundamentally rework their investment approach and the way they prove they are securing good outcomes for pension savers. Productive finance In recent years, successive chancellors have proposed ways to spur pension schemes to back investment in Britain, yet such blueprints have typically lacked substance. The current chancellor, Jeremy Hunt, appears to have embraced the agenda in full. In summer 2023 he set out proposals to accelerate consolidation across the DC market and to promote allocations to less liquid assets. Since that summer, nine of the UK’s largest DC schemes have signed the Mansion House Compact,...

In this issue Practice and procedure Relationship breakdown Financial provision International Daily and weekly news alerts LexTalk®Family: a Lexis®Nexis community New and updated content Useful information Practice and procedure Digital assets as personal property: supplemental report and draft legislation The Law Commission of England and Wales has issued a supplementary report together with a draft Bill which, if enacted, would endorse a third class of personal property into which certain digital and other assets might fall. Its June 2023 digital assets report found that particular digital assets, including crypto-tokens and non-fungible tokens (NFTs), can attract personal property rights. Yet, because they are inherently distinct from tangible items and from rights-based assets such as debts and financial securities, they do not align with traditional personal property categories. The recommendation was that legislation should recognise the existence of a third category of personal property. The draft Bill states that an item is not disqualified from being the...

Insolvency law and admiralty or shipping/maritime law Insolvency and admiralty or shipping/maritime law routinely involve cross-border dealings and assets spread across several jurisdictions. Over time, each area has developed mechanisms to recognise foreign legal regimes and to move towards harmonisation, whether through evolving practice or by unifying rules via international conventions. Nevertheless, these disciplines have largely progressed independently, paying limited attention to one another. As a result, although both seek international coherence, real points of friction have emerged between insolvency and maritime practice, which parties confronting a maritime insolvency must carefully consider... The principal obstacle to conventional insolvency pathways is the range of rights held by stakeholders in the shipping sphere over the key tangible assets of shipowners—namely, vessels—arising under: internationally recognised traditional maritime law (maritime liens) international conventions, for example the International Convention Relating to the Arrest of Sea-Going Ships, Brussels 1952 (the ‘Brussels Convention’) (arts 1–2) local statute, such as the Senior Courts Act 1981 in England or the Admiralty Jurisdiction...

THIS PRACTICE NOTE APPLIES TO ALL PRIVATE SECTOR PENSION SCHEMES Business sales (sometimes called asset sales) involve a seller disposing of part, or all, of its tangible business to a buyer. The buyer then assumes ownership of the contracts and assets set out expressly in the business sale agreement. Those contracts will typically include, for example, commercial agreements and the employment contracts for some, or all, of the seller’s staff (employees transfer by law), together with any plant, machinery, property, goodwill, and similar items. This Practice Note should be read alongside the following Practice Notes: Pension issues on a business sale—acting for the buyer Pension issues on a business sale—acting for the seller TUPE—what pension benefits should the transferee provide? The purpose of due diligence Due diligence is the process by which a buyer obtains information about the seller's business and the accompanying liabilities. Lawyers acting for the buyer are frequently provided with access to an actual or virtual data...

The common law trust has long played a role across a range of commercial structures; yet its deployment is subtle and tailored to the circumstances of each arrangement. Although the equitable foundations of classic trusts remain pertinent, courts increasingly accept that the intricate rules devised for traditional trusts cannot simply be transplanted into commercial trusts. A trust possesses distinctive qualities that differentiate it from other legal relationships—such as contract, agency and bailment. This Practice Note highlights several established and potential applications of a trust that is deliberately constituted to achieve a commercial objective. Trusts arising by operation of law regardless of the parties’ intentions, or emerging from litigation, fall outside the scope of this Practice Note... What is a trust? See Practice Notes: An introduction to trusts for commercial lawyers and Nature and classification of trusts—the nature and classification of trusts. For details on the meaning of a trust, the various categories of trust and the elements required for validity. This Practice Note also outlines the role of...

I leave, free of tax, to [ insert name of donee ] of [ insert address of donee ] all my moveable property, tangible and intangible, [ save for any property that consists of money or security for money and is, at my death, used solely or mainly for business purposes and is, at my death, held solely as an investment ] ....