Articles by author
Security release filings, a rogue filer and the Economic Crime and Corporate Transparency Act
News broke earlier this year that roughly 800 security release filings, affecting 190 companies, had been fraudulently filed at Companies House, marking the underlying security interests as satisfied when they remained outstanding. New powers given to the Registrar of Companies under the Economic Crime and Corporate Transparency Act 2023 were used to rectify the register. The case shone a spotlight on the vulnerabilities of the system for registering the release of security.
28 JUN 2024The impact of the Corporate Insolvency and Governance Act 2020 on drafting loan documentation and practice
This article takes stock of CIGA’s impact on the drafting of loan documentation and related practice points for finance lawyers.
1 APR 2021The impact of the new Economic Crime Act on loan documentation
The Economic Crime (Transparency and Enforcement) Act 2022 (the Act) implements the highly anticipated register of beneficial ownership of UK property, forcing overseas entities to disclose details of beneficial ownership in order to transact with UK property. It is designed to improve the transparency of foreign ownership of UK property and clamp down on economic crime. However, the new regime is not faultless, and the new register is at risk of exploitation in certain areas. In this article, we consider key aspects of the Act, the new register, and issues for lenders ahead of the implementation of the new regime.
1 JUN 2022Security reinstatement provisions: worth the paper they are written on?
When I first agreed to pen this article, one of my esteemed colleagues remarked that he was surprised I had agreed to take this on. And when the Editor asked me a very straightforward question – “do security reinstatement provisions work?” – and I responded by saying “honestly, I have no idea”, the omens were not encouraging. Undeterred I enlisted the support of some colleagues at home base. The outcome of our collective efforts follows.
1 JUL 2023
