Financing in UK Law
Volkswagen Financial Services (UK) Ltd v Revenue and Customs Commissioners
The dispute about the recoverability of residual input tax in relation to the taxable supplies of vehicles centres on the fact that none of the relevant portion of overheads attributable to the retail sector is recovered as part of the price of the vehicle.
Crema v Cenkos Securities Plc
The e-mail is not well written but, as I read it, Mr Crema was recognising that from his point of view (“hence me”) it was critical that GPV/V-Fuels was bound to Cenkos, otherwise he would not be paid. If he thought that the arrangement was that he was entitled to be paid whatever happened between GPV and Cenkos, it is difficult to see why he would have raised the point with Mr Nally.
The telephone conversation of 29 January in my view confirms that, as the parties saw it, there was to be a brokerage fund of 5%. If Mr Crema was successful with Hutton Collins, and therefore produced most of the investment, the 5% would be cut in his favour. Shortly after that the cut agreed was 70:30.
In my judgment the sense of this letter, and of the earlier letters and discussions, is that as broker and sub-broker, Cenkos and Mr Crema were in it together. Any other arrangement would be rather uncommercial, placing the whole risk of non-payment by GPV on Cenkos. There was an expected fund of brokerage to be received from GPV. They would share in it 70:30 in relation to investments raised by Mr Crema.
Commissioners of Customs and Excise v Redrow Group Plc
Once the taxpayer has identified the payment the question to be asked is: did he obtain anything - anything at all - used or to be used for the purposes of his business in return for that payment? This will normally consist of the supply of goods or services to the taxpayer. But it may equally well consist of the right to have goods delivered or services rendered to a third party.
Aluminium Industrie Vaassen B.v v Romalpa Aluminium Ltd
I see no difficulty in the contractual concept that, as between the appellants and their sub-purchasers, the appellants sold as principals, but that, as between themselves and the respondents, those goods which they were selling as principals within their implied authority from the respondents were the respondents' goods which they were selling as agents for the respondents to whom they remained fully accountable.
Thomas Crema v Cenkos Securities Plc
(3) The question of implication of terms only arises when the instrument does not expressly provide for what is to happen when some particular (often unforeseen) event occurs. that something is to happen in that particular event which is not expressly dealt with in the instrument's terms, then it is said that the court implies a term as to what will happen if the event in question occurs.
- The Money Laundering and Terrorist Financing (Amendment) (High-Risk Countries) Regulations 2021
- The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020
- The Money Laundering and Terrorist Financing (Miscellaneous Amendments) Regulations 2018
- The Money Laundering and Terrorist Financing (Amendment) Regulations 2019
A prominent explanation of the resource–conflict relationship suggests that natural resources finance rebellion by permitting rebel leaders the opportunity to purchase weapons, fighters, and local ...
- Review: Financing Development
- Counter Terrorism Financing
Ten myths about terrorist financing
Purpose: The purpose of this paper is to present ten myths of terrorist financing policy. Design/methodology/approach: It is argued that post 9/11 literature on terrorism misunderstands the relati...
Council endorses SRF financing arrangements
The Council has endorsed public bridge financing arrangements for the single resolution fund (SRF) in its Economic and Financial Affairs Council (ECOFIN).
- Hotel Financing Series, Part 2: Covenants
- Rescue Financing And Private Equity
Stretching Leverage: Holdco PIK Financing Instruments
Key Points - Holdco PIK financing instruments may present an attractive and/or alternative source of capital for private equity sponsors to finance acquisitions or to facilitate dividend recapita...