Jurisdiction(s):
United Kingdom

Key definition

Company definition

What does Company mean? In legal practice, company describes an incorporated association formed to carry on business or another lawful purpose. Across England and Wales, Scotland and Northern Ireland this ordinarily means a body corporate formed and registered under the Companies Act 2006; in Ireland, under the Companies Act 2014. A company has separate legal personality (Salomon v A Salomon & Co Ltd), can own assets, enter contracts, sue and be sued, and typically provides limited liability for its members. Common forms are the private company limited by shares (Ltd), the public limited company (plc), the company limited by guarantee and the unlimited company....

Can office‑holders accelerate an unmatured intra‑group loan?

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Published by a LexisNexis Restructuring & Insolvency expert

Q&As

When one Company advances funds to another, the contractual provisions govern any restriction on repaying the Loan before the ten-year period first contemplated. Should the lending company enter liquidation or administration, that circumstance, by itself, does not alter the contract’s terms. The office-holding insolvency practitioner should nevertheless review the agreement to determine whether it permits earlier repayment, or repayment on alternative terms, if the lending company goes into liquidation or administration. Although that may appear improbable, it remains possible, and the officeholder ought to explore every avenue to secure accelerated repayment of the borrowing. Absent an express clause to the contrary, the insolvency of the lender does not, of itself, accelerate the debt, and timing remains governed by the bargain. It would seem that the office-holding insolvency practitioner holds an appointment that must remain open for at least ten years before the loan can be discharged and a dividend distributed to creditors...

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Caroline Clark

Caroline Clark's insolvency career began over 30 years ago and includes senior responsibility for a portfolio of cases as well as regulatory experience working for the Joint Insolvency Monitoring Unit and national responsibility for compliance and technical matters working for major UK practices. Caroline is now a director of RMCSC, giving high quality insolvency compliance and management advice. As well as being a qualified insolvency practitioner Caroline has an MBA. This, together with experience outside the insolvency profession means that Caroline is qualified to advise about strategic and operational management as well as insolvency. Caroline is also a member of Mensa. Caroline has experience in most areas of personal and corporate insolvency but areas of particular interest include:- Compliance with statute and the principles of best practice including SIPs Strategy, systems and policies Risk...

Web page updated on 27/05/2026

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