Posted on 26 February 2015
In this issue, we look at how the Act codifies directors’ duties, re-introduces directors’ compliance statements and the new Summary Approval Procedure which can be used to ratify certain transactions.
Posted on 3 February 2015
Happy New Year and welcome to our February e-Briefing. In this issue:
• The enactment of the Companies Act 2014 (anticipated to come into effect in June 2015) will completely overhaul the corporate structures which have been operating since 1963. We summarise the key structural changes and separately comment on the probable effect of the legislation on secured lending transactions.
• We highlight the ISE support programme launched in January 2015 to equip companies to come to the market using the IPO process.
• Some practical evidential difficulties faced by a financial institution in enforcing security have been highlighted in a recent case relevant to the increasing practice of outsourcing loan management services.
• We comment on “after the event” insurance and its relationship with the historical legal bar on third party litigation funding.
• Our pensions update reminds trustees of their obligations and shows that the Pensions Authority is prepared to take action to convict both companies and directors for statutory breaches.