Some pointers for practitioners

Article Abstract:

The House of Lords, in the landmark case of 'National Westminster Bank plc v Spectrum Plus Ltd.', unanimously held that banks would no longer have the right of first call on the book debts of collapsed business. The likely impact of the judgment particularly the practical implications, asset-based finance as the future trend of lending is discussed.

Commercial Banks, Business Failures, Banking industry, Company legal issue, Cases, National Westminster Bank PLC (London, England)

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Liability reform: The rational analysis

Article Abstract:

The only rational approach to reform the current United Kingdom law is proportional liability. This allows a prospective client to pick a target known to have more money, whether or not insured and to pursue that party for the full payment of the alleged losses regardless of fault.

Flat tax, Liability of successor corporations, Corporate succession liability

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Some pointers for practitioners

Article Abstract:

The House of Lords, in the landmark case of 'National Westminster Bank plc v Spectrum Plus Ltd.', unanimously held that banks would no longer have the right of first call on the book debts of collapsed businesses. The impact of the judgment for asset-based finance is discussed.

England, International aspects, Priorities of claims and liens, Bankruptcy discharge

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