In the spring, reports of the sudden appearance of forms purporting to record the release of security with Companies House caused consternation – because no releases had been entered into. When the dust settled, some 800 such forms had been filed, affecting lenders both mighty and small.
The problem could have been difficult to fix, but Companies House stepped in using its new powers under the Economic Crime and Corporate Transparency Act. In an article for The Butterworths Journal of International Banking and Finance, Matt and Jo consider the nature of the rogue filings and how Companies House were able to rectify the register.
Elsewhere, the Court of Appeal tackled the nature of a sub-participation agreement, reversing the High Court’s decision: Himal and Jo consider. And Andrew and Sammy look at the decision in UK Cloud Ltd and the perpetually thorny issue of control in the context of fixed security.
Guarantees from individual directors form a key part of the credit support package when a bank is considering lending to a small business. Matt (Padian) and Matt (Grant) consider the recently revised LSB standards for such guarantees.
Our ongoing A-Z of banking and finance series aims to demystify key terms: the focus this time for Andrew and Himal is on knowledge qualifiers. Our other articles include a look at waivers by contract and by estoppel, and at the rates of lending in the commercial real estate space.
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Andrew Dodds
Matthew Padian