Insights: April 2010

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Changes to section 106 agreements and the Community Infrastructure Levy

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The Government has been working up proposals for a new levy (the Community Infrastructure Levy or CIL), to sit alongside section 106 agreements, for several years. The Community Infrastructure Levy Regulations 2010 have now finally been adopted and came into effect on 6 April 2010. The regulations confirm that local authorities have the power to […]


Fladgate advises on the admission to AIM of Metminco

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Fladgate LLP has acted for new client Metminco Limited on its admission to the AIM market. Metminco, an ASX listed mining exploration company, raised £12m by way of a placing of 103,795,569 ordinary shares. The Fladgate team was headed by corporate partner David Robinson and included associate John Daniel Hall. Commenting on the transaction David […]


Banking newsletter April 2010

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Legal updates for those involved in the banking sector.  


Responding to mistaken payment

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A bank was held liable for monies lost on a mistaken payment. When it received the payment, it became aware of the alleged mistake but failed to take swift action and to raise all relevant enquiries before allowing a customer to withdraw the funds. In Jones v Churcher and Abbey National [2009] EWHC 722 (QB) […]


Administrator removed from pre-pack

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The court has removed an administrator of a firm of solicitors who was closely involved in the negotiations for the pre-pack administration on the grounds that it was difficult for him to conduct an independent review in the face of a challenge by major creditors. In Clydesdale Financial Services v Smailes [2009] EWHC 1745 (Ch) […]