LEXLAW Solicitors & Barristers
From outdated statute to FCA rulebook: the Consumer Credit Act 1974 is facing its most significant overhaul in fifty years. Automatic sanctions that have protected borrowers for decades are proposed for repeal, voluntary termination rights hang in the balance, and the window to enforce existing statutory protections is closing. Here is what every borrower needs to know before the law changes.
Unfair prejudice petitions under section 994 of the Companies Act 2006 offer minority shareholders a powerful legal route to challenge misconduct by those controlling a company. Whether you are being excluded from management, denied information, or having your shareholding diluted, the law provides real remedies. This guide explains everything you need to know about unfair prejudice claims and how LEXLAW’s specialist litigation lawyers can help you pursue or defend one.
Directors who continue trading after they knew, or ought to have concluded, that there was no reasonable prospect of avoiding insolvent liquidation or administration may face personal liability under section 214 of the Insolvency Act 1986. During the period in which a company is insolvent or nearing insolvency, directors’ decisions may also come under closer scrutiny, particularly where losses to creditors increase.
Growing scrutiny of regulatory oversight has reignited claims that small businesses were exposed to hidden liabilities through complex lending structures, raising significant legal questions around misrepresentation, regulatory accountability, and SME redress.
Our client, Dr Elizabeth Donald represented by Jaron Dosanjh, told The Times that MFS’s collapse had been a “nightmare” in regards to her personal portfolio. Barclays, Santander and Wells Fargo are some of the institutions thought to be caught up in the Mayfair lender’s collapse — but what about individuals? Article by James Hurley, Assistant Business Editor, The Times
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McGuinness v Goldentree [2025] EWHC 870 (Ch) clarifies investment property loan exemptions under Article 61A FSMA 2000. The High Court struck out regulatory challenges to commercial development finance, confirming contemporaneous evidence establishes business purposes. The judgment reinforces that former directors lack litigation authority during administration without administrator consent. This decision protects legitimate commercial lending from spurious consumer credit challenges whilst emphasising robust documentation practices for development finance practitioners.
Real Estate Tycoon, Tchenguiz challenged the £6.5 million claim by IG Index Limited over spread-betting debt but court upheld the claimant’s position. The ruling implicates critical precedent for financial instruments, spread betting, statutory interpretation of financial regulations.
HMRC’s use of Account Freezing Orders has risen 170% over the past 3 years. An AFO allows HMRC to quickly freeze funds in accounts suspected of criminal activity for up to two years. The number of AFOs, easily obtained by HMRC, has surged from 125 in 2022 to 341 in 2024, with the value of frozen assets rising massively. AFOs pose catastrophic risks for innocent businesses caught up in HMRC’s net.
An Account Freezing Order (AFO) is a UK court order that restricts access to funds in bank accounts suspected of involvement in criminal activity. Certain organisations such as the NCA, SFO or HMRC must show reasonable suspicion that the money is linked to criminal activity. They can apply for an AFO at a Magistrates’ Court. These orders, lasting up to two years, freeze the account, preventing any transactions without court approval. To protect their legal rights and assets, businesses and individuals facing an AFO can challenge or seek variation through legal representation.
Unregulated bridging loans are a short-term financing solution often used by UK property owners. Whether for swift property purchases, renovation projects, or addressing unexpected business costs, bridging finance can provide quick access to capital. However this is at significant cost and risk which some borrowers don’t understand. You must carefully consider the risks associated bridge loans. Seeking professional advice is crucial.