A Life Assurance company’s management expenses were not deductible as quantum of profit. Citations: Times 05-Jul-1996 Statutes: Finance Act (No 2) Act 1992 65 Corporation Tax Updated: 08 April 2022; Ref: scu.82545
A counterclaim for negligent sale was a valid claim allowing potential against repossessing bank but would not make bank’s claim unliquidated. The Judge could properly hold that there was a liquidated and unsecured debt the subject of the statutory demand owed to the Bank for a sum greatly in excess of the statutory minimum which … Continue reading Platts v Trustees Savings Bank Plc: CA 13 Feb 1998
The defendants appealed against confiscation orders made after a finding that they had been involved (separately) in the smuggling of tobacco, suggesting a conflict between the 1992 Regulations and the Directive. Held: The appeals variously failed and succeeded according to their facts. A person obtains a pecuniary advantage by evading duty or VAT even though … Continue reading White and Others v Regina: CACD 5 May 2010
The tenant had the option to take a further lease on giving written notice of their desire ‘if it shall have . . performed and observed the several stipulations on its part to be performed and observed up to the date of [the notice]’. The question was whether the clause required the reading that past … Continue reading Bass Holdings Ltd v Morton Music Ltd: CA 1987
The husband and wife had signed a bank mandate allowing the bank to act upon the authorisation of either of them. The wife complained that the bank should not be able to recover from her any sums expended by the husband. Held: The mandate extended to all borrowings on the joint account and without limit. … Continue reading Sandra Estelle Fielding v The Royal Bank of Scotland Plc: CA 11 Feb 2004
(Orse In re Pantmaenog Timber Co Ltd)The Receiver sought to use information obtained under section 236 (documents recovered from the directors’ solicitors) in disqualification proceedings. Held: The appeal succeeded. The Act had explicitly given the requisite powers to the receiver whether or not he was the liquidator. Nor was the purpose of the use restricted. … Continue reading Official Receiver v Wadge Rapps and Hunt (a firm) and another and two other actions: HL 31 Jul 2003
Standing to Claim under A1P1 ECHR The appellants had written employers’ liability insurance policies. They appealed against rejection of their challenge to the 2009 Act which provided that asymptomatic pleural plaques, pleural thickening and asbestosis should constitute actionable harm for the purposes of an action of damages for personal injury. Held: The insurers’ appeals failed. … Continue reading AXA General Insurance Ltd and Others v Lord Advocate and Others: SC 12 Oct 2011
The claimants wanted to bring actions in respect of various matters under shareholders agreements in complex international joint ventures. Leave was given to serve English proceedings in Malta, and the claim form and particulars of claim were faxed and emailed and delivered by hand at the registered offices of the company and at the private … Continue reading BAS Capital Funding Corporation, Deutsche Bank Ag London, Paine Webber Capital Inc, PW Exe Lp, Pw Partners 1999 Lp v Medfinco Limited, Abacus Holdings Limited, Andreas W Gerdes, HTC Inc, etc: ChD 25 Jul 2003
A company went into liquidation, being owed substantial sums by another company in the same group, but itself insolvent. A settlement did not include accrued interest, but was claimed to be taxed as if it had, and on an accruals basis. If so, was this an expense properly arising in the insolvency, and payable as … Continue reading Kahn and Another v Commissioners of Inland Revenue; In re Toshoku Finance plc: HL 20 Feb 2002
Former HL decision in Siebe Gorman overruled The company had become insolvent. The bank had a debenture and claimed that its charge over the book debts had become a fixed charge. The preferential creditors said that the charge was a floating charge and that they took priority. Held: The appeal was allowed. The debenture, although … Continue reading National Westminster Bank plc v Spectrum Plus Limited and others: HL 30 Jun 2005
Taxpayer companies challenged the way that the revenue restricted claims for group Corporation Tax relief for subsidiary companies in Europe. The issue was awaiting a decision of the European Court. The Revenue said that the claims now being made by other companies should proceed through the Commissioners who could implement European law directly. The taxpayers … Continue reading Autologic Holdings Plc and others v Commissioners of Inland Revenue: HL 28 Jul 2005
The Court was asked ‘whether, and if so, in what circumstances, an order or judgment of a foreign court . . in proceedings to adjust or set aside prior transactions, eg preferences or transactions at an undervalue, will be recognised and enforced in England. The appeals also raise the question whether enforcement may be effected … Continue reading Rubin and Another v Eurofinance Sa and Others: SC 24 Oct 2012
The parties had cohabited for a long time, in a home bought by Ms Dowden. After the breakdown of the relationship, Mr Stack claimed an equal interest in the second family home, which they had bought in joint names. The House was asked whether, when a conveyance into joint names indicates only that each party … Continue reading Stack v Dowden: HL 25 Apr 2007
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