When a director borrows money from their company for personal use there are a number of legal and tax issues to be considered. Directors’ loans and the Companies Act 2014 The Companies Act 2014 prohibits directors or connected parties to them been given loans greater than 10% of the company’s net assets except in certain…
One thing I have learned over the years is that whilst one can read and understand legislation, what really matters is how the High Court interprets it. The Land and Conveyancing Law Reform (Amendment) Act 2019 is now law. I set out below a link to the Act: The Act initially started out as “Keeping…
The High Court has found that Debtors may live beneath Reasonable Living Expenses whilst going through a Personal insolvency Arrangement. The Court recently gave judgment in which it overturned two Circuit Court decisions in respect of the matter. The central issue before the High Court was whether it is permitted under the Acts to construct…
It had long been the case that an equitable mortgage or charge could be created by the deposit of title documents. Such deposit had always been held to give the mortgagee a lien on the land to which the deeds relate as opposed to merely having a lien on the deeds themselves. The Supreme Court…
In the recent High Court case of Eileen Courtney v/s OCM EMRU Debtco DAC , a fund has been ordered by the High Court to provide full details of what it paid for the loan of a specific borrower. The judgment dealt with the borrower’s application to see a copy of the loan purchase agreement…
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