Reforming the laws on financial assistance
Article Abstract:
The UK Dept of Trade & Industry's (DTI) planned reform of the law on financial assistance should make the legislation clearer and simpler. The proposals, which apply to sections 151-158 of the Companies Act 1985, are intended to harmonise legislation with article 23 of the EU's Second Directive of Company Law. The legislation covers financial assistance in acquisitions or buyouts, where some part of the deal is financed by new debt secured by charges over, or guarantees from, the assets of the firm being acquired. The DTI's proposals include clarifying the solvency test.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1995
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Playing a high risk game
Article Abstract:
It is suggested that the UK development capital market may have to change in order to keep up with increasing competition. The market has already moved towards the US leveraged buyout (LBO) model; and many firms have looked to less developed markets in Europe for business. Although the UK market is fully mature, many industry players are redefining their role as institutional buyers in order to improve their position.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1996
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