At long last the UK prohibition on financial assistance has been abolished for private companies. This has been applauded as one of the key deregulatory aspects of the Companies Act 2006. Analysing and dealing with the financial assistance prohibition was often a big legal restraint in corporate and lending transactions. Private companies and lenders (and their lawyers) will no longer have to spend large amounts of time and cost considering how the statutory prohibition and often restrictive case law might apply to their transactions....