Feature

Scottish moveable transactions law is currently outdated and much less useful in practice than the law in England and Wales. The Moveable Transactions (Scotland) Act 2023 (2023 Act) will bring Scots law up to date when it comes into force and will arguably move it ahead of the law south of the border. This article tests whether or not that is the case when assigning receivables.

This article examines the way that ESG-related cases in the context of financial services have evolved over the past few years, and the themes emerging from the high number of court dismissals during 2023, which indicates that legal merits continue to be the prevalent factor.

In this article Tom Leary explains the key decisions in the Mints litigation on issues of “control”, why the Court of Appeal’s approach to Reg 7(4) of the Russia (Sanctions) (EU Exit) Regulations 2019 is unsurprising given the genesis of its drafting, and the practical implications for practitioners.

This article addresses two related practical issues which arise in acquisitions, restructurings and financing transactions where a limited liability partnership (LLP) is involved in the group structure. The first is the authority needed by a lender where an LLP is giving a guarantee of group companies’ liabilities and/or granting security. The second is the related point about charging the interests of a member in an LLP.

This article discusses the decision in Re Avanti Communications Ltd (in Administration) and how the criteria laid down in the case affect the characterisation of charges over different types of assets as being either fixed or floating.

Frauds may be unauthorised (credit card fraud, phishing, for example) or authorised. Authorised frauds may be “pull” frauds, where the fraudster is given the victim’s account details and authorised to pull the funds from their account, or “push” frauds (APP), where the victim instructs its bank to send money to the fraudster’s account.According to the Payment Services Regulator (PSR), £485.2m was lost to APP fraud in 2022 alone. Back in May 2022, HM Treasury announced its intention to legislate to allow the PSR to require victim reimbursement for APP scams. That legislation came into effect on 29 June 2023, when the Financial Services and Markets Bill received Royal Assent. This article considers the implications of the mandatory reimbursement scheme propounded by the PSR.

Scottish moveable transactions law is currently outdated and much less useful in practice than the law in England and Wales. The Moveable Transactions (Scotland) Act 2023 will bring Scots law up to date when it comes into force and will arguably move it ahead of the law south of the border. This article tests whether or not that is the case when taking security over chattels.

Pre-prepared board minutes are used in complex corporate transactions to ensure the proper steps are completed in the appropriate order. This article looks at cases in which the practice has been considered, and identifies some of the risks involved.

In this article the authors outline the basic elements of a double dip transaction with a look at recent case studies. They then provide a step-by-step covenant analysis with considerations for lenders and a European perspective.

In this article, the authors explore the new trend of Wall Street bank-led secondary trading in private credit and certain considerations for market participants involved.