Director was not personally liable for actions of a company – OUT-LAW.com

Posted September 13th, 2022 in company directors, misrepresentation, negligence, news by tracey

‘When a claimant sues a company, they often also bring a claim against senior management to ensure that there is a solvent defendant against which any judgment can be enforced.’

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OUT-LAW.com, 12th September 2022

Source: www.pinsentmasons.com

Ex-director given another chance to appeal eight-year-old ET judgment – Law Society’s Gazette

‘The High Court has granted more time for a former law firm director to challenge a coruscating judgment against her more than eight years after it was handed down.’

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Law Society's Gazette, 2nd September 2022

Source: www.lawgazette.co.uk

‘Utterly dishonest’ Axiom fund solicitor jailed for fraud – Law Society’s Gazette

Posted August 12th, 2022 in company directors, fraud, imprisonment, news, sentencing, solicitors by tracey

‘Astruck-off solicitor who dishonestly funnelled nearly £20m of investors’ money from a legal financing fund into his own pocket to fund a luxury lifestyle has been jailed for 14 years.’

Full Story

Law Society's Gazette, 12th August 2022

Source: www.legalfutures.co.uk

Lincoln Covid loan abuser gets 10-year business ban – BBC News

Posted August 8th, 2022 in company directors, coronavirus, insolvency, loans, news by tracey

‘A Lincoln student has been banned from running a company for 10 years after abusing a Covid recovery loan.’

Full Story

BBC News, 8th August 2022

Source: www.bbc.co.uk

English courts increasingly grappling with complex crypto disputes – OUT-LAW.com

Posted August 5th, 2022 in company directors, company law, cryptocurrencies, dispute resolution, news by tracey

‘The English courts have adapted quickly to increasingly complex disputes involving crypto assets, a legal expert has said, following a recent ruling in a dispute over the ownership of an account worth roughly £30 million.’

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OUT-LAW.com, 5th August 2022

Source: www.pinsentmasons.com

Unlocking the crypt: insolvency & cryptocurrency – New Law Journal

Posted July 13th, 2022 in bankruptcy, company directors, cryptocurrencies, insolvency, news by tracey

‘Despite the UK’s intention to be a global leader in cryptoassets, the courts are still wrestling with the basics: Rachel Coyle of 36 Commercial explains why it’s time to get to grips with the insolvency context.’

Full Story

New Law Journal, 8th July 2022

Source: www.newlawjournal.co.uk

Firm ordered to pay wasted costs over lack of authority to act – Legal Futures

‘A law firm has been ordered to pay wasted costs of £7,920 for not satisfying itself that the director of a company in deadlock with the other director had the authority to give it instructions.’

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Legal Futures, 5th July 2022

Source: www.legalfutures.co.uk

FCA investigates Wise co-founder after tax default – The Guardian

‘The UK’s financial regulator is investigating the co-founder of payments company Wise after he failed to pay his taxes.

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The Guardian, 27th June 2022

Source: www.theguardian.com

Co-owners jailed and firm fined £2m over deaths of workers in animal feed tanker – The Independent

‘A food waste recycling company has been fined £2 million and one of its co-owners jailed for 13 years after two workers died in a road haulage tanker containing pig feed.’

Full Story

The Independent, 16th June 2022

Source: www.independent.co.uk

Law Commission sets out options to Government for reforming how companies are convicted of criminal offences – Law Commission

Posted June 13th, 2022 in company directors, company law, criminal justice, Law Commission, news by tracey

‘The Law Commission has today published its options for the Government for how it can improve the law to ensure that corporations are effectively held to account for committing serious crimes.’

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Law Commission, 10th June 2022

Source: www.lawcom.gov.uk

Anti-money laundering proposals ‘uninspired and insipid’, say MPs – The Guardian

Posted June 10th, 2022 in company directors, company law, fraud, Law Commission, money laundering, news by sally

‘Law Commission proposals to make directors more accountable for economic crimes at the companies they oversee have been condemned as a “thundering disappointment”.’

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The Guardian, 10th June 2022

Source: www.theguardian.com

Case Comment: Crown Prosecution Service v Aquila Advisory Ltd [2021] UKSC 49 – UKSC Blog

‘In this post, Amy Wilkinson, a senior associate in CMS’ financial crime team, comments on the decision of the UK Supreme Court in Crown Prosecution Service v Aquila Advisory Ltd [2021] UKSC 49. On 3 November 2021, the Supreme Court unanimously dismissed the appeal and ruled in favour of Aquila Advisory Ltd. The decision concerns attribution of directors’ criminal actions and who should have priority over assets derived from their criminal schemes.’

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UKSC Blog, 4th May 2022

Source: ukscblog.com

UK businesses should be aware of a growing trend of climate change-based litigation according to one expert, after environmental law charity ClientEarth announced legal action against Shell – OUT-LAW.com

Posted March 22nd, 2022 in charities, climate change, company directors, derivative claims, energy, news by tracey

‘UK businesses should be aware of a growing trend of climate change-based litigation according to one expert, after environmental law charity ClientEarth announced legal action against Shell.’

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OUT-LAW.com, 18th March 2022

Source: www.pinsentmasons.com

The director of an English mobile phone company, now in liquidation, has been held liable for both fraudulent trading and misfeasance for participation in missing trader intra-community (MTIC) VAT fraud. – OUT-LAW.com

‘The High Court upheld an application made by the liquidator of JD Group Ltd (“the company”) claiming that Deepak Bhatia, the company director, was engaged in fraudulent trading owing to knowledge that the company was associated with VAT fraud. Judge Agnello QC found that the manner in which the respective transactions were carried out provided clear evidence of this knowledge and that Bhatia’s conduct was dishonest in accordance with the objective standards of ordinary decent people.’

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OUT-LAW.com, 3rd March 2022

Source: www.pinsentmasons.com

Wrongly convicted Post Office workers say former bosses should face jail – The Guardian

‘Former Post Office workers who were among those wrongfully convicted for theft, fraud and false accounting have called for the company’s former management to go to jail for their part in the long-running scandal.’

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The Guardian, 15th February 2022

Source: www.theguardian.com

New Acts – legislation.gov.uk

2021 c. 34 – Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act 2021

2021 c. 33 – Critical Benchmarks (References and Administrators’ Liability) Act 2021

2021 c. 35 – Armed Forces Act 2021

Source: www.legislation.gov.uk

Fiduciary duties beyond the fiduciary relationship – no clean break for directors – Littleton Chambers

‘In Burnell v Trans-Tag Ltd & Anor [2021] EWHC 1457 (Ch) Mr Greenbank (sitting as a Deputy Judge of the High Court) was asked to determine whether, and if so to what extent, a director’s fiduciary duties survive the termination of the directorship. The essential part of the judgment on this point is at paragraph 391 to 410. The Defendants in this case were represented by Richard Leiper QC and Charlotte Davies, instructed by Clyde & Co LLP.’

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Littleton Chambers, 24th June 2021

Source: littletonchambers.com

Haulage boss jailed over M62 faulty brake deaths – BBC News

‘A haulage boss who ran a “lawless” business has been jailed for 15 years after two men died when their car was hit by an HGV with faulty brakes.’

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BBC News, 29th June 2021

Source: www.bbc.co.uk

UK legislation proposed to tackle modern slavery – OUT-LAW.com

‘A private members’ bill seeking to address modern slavery, including establishing minimum standards of transparency in supply chains, has been introduced to the UK parliament.’

Full Story

OUT-LAW.com, 22nd June 2021

Source: www.pinsentmasons.com

Law Commission seek views on corporate criminal liability – Law Commission

‘The Law Commission is seeking views on whether, and how, the law relating to corporate criminal liability can be improved so that they appropriately capture and punish criminal offences committed by corporations, and their directors or senior management.’

Full press release

Law Commission, 9th June 2021

Source: www.lawcom.gov.uk/