‘A High Court judge was wrong to order a non-party costs order (NPCO) where the respondent had not been warned that the applicant was going to seek one, the Court of Appeal has ruled.’
Litigation Futures, 10th September 2018
Source: www.litigationfutures.com
‘The UK government has published new tools designed to improve rescue opportunities for companies in financial distress and put more emphasis on directors’ duties.’
OUT-LAW.com, 28th August 2018
Source: www.out-law.com
‘Company bosses who dissolve their firms to avoid paying off staff or meeting pension commitments will risk being hit with fines, under new government plans.’
BBC News, 26th August 2018
Source: www.bbc.co.uk
‘A company boss has been jailed for 10 years today (13 June) after two people died in a series of explosions and a fire at his fireworks shop.’
Crown Prosecution Service, 13th June 2018
Source: www.cps.gov.uk
‘The government is set to finally make good on its pledge to make the directors of companies which make unsolicited nuisance calls personally liable if their firm breaks the law.’
Legal Futures, 31st May 2018
Source: www.legalfutures.co.uk
‘Bosses of firms which bombard people with nuisance calls could be fined up to £500,000 under government proposals to make them personally liable.’
BBC News, 30th May 2018
Source: www.bbc.co.uk
‘A solvency statement was found to be invalid, a reduction in capital and distribution unlawful and three directors in breach of their duties after a corporate reorganisation left a company unable to meet its liabilities, the High Court has ruled.’
OUT-LAW.com, 22nd May 2018
Source: www.out-law.com
‘Two men were found to be shadow directors of an insolvent property development company and so did owe the company fiduciary duties but their behaviour did not breach those duties, the High Court has ruled.’
OUT-LAW.com, 8th May 2018
Source: www.out-law.com
‘The conviction of a company and the jailing of two former company directors for offences under the UK Bribery Act should serve as a warning to businesses over a new tax evasion corporate offence, according to a tax law expert.’
OUT-LAW.com, 27th April 2018
Source: www.out-law.com
‘Major insurers in the UK must “consider a broad set of qualities and competencies” when recruiting board members, and have a policy in place to promote board diversity, under new rules that came into effect on 9 April.’
OUT-LAW.com, 16th April 2018
Source: www.out-law.com
‘Former BHS owner Dominic Chappell plans to sue Sir Philip Green and contest a proposed boardroom ban in a bid to repair his “tarnished reputation” and resurrect his career.’
Daily Telegraph, 9th April 2018
Source: www.telegraph.co.uk
‘Former BHS owner Dominic Chappell will be banned from serving as company director for up to 15 years over his role in the the high street chain’s collapse, while its previous owner Sir Philip Green will escape any sanction. The Insolvency Service said that the retail mogul Sir Philip, who sold BHS to thrice bankrupt Mr Chappell little over a year before its demise for £1, will not face further action.’
Daily Telegraph, 27th March 2018
Source: www.telegraph.co.uk
‘Company directors were said to be responsible for assets despite their use of corporate vehicles, the Supreme Court has ruled (12-page / 157KB PDF). The ruling means that a six year limitation period stopping liquidators taking legal action against the directors does not apply. This case will impact future misfeasance actions. Director and officer indemnity insurers should take note of this decision as it confirms that the English courts are unwilling to accept the six-year limitation defence for actions against directors following the disposal of company assets in breach of fiduciary duty for economic gain.’
OUT-LAW.com, 23rd March 2018
Source: www.out-law.com
‘Directors’ duties, procedural fairness and issue based costs; the Court of Appeal decision sheds light on several aspects of financial regulatory enforcement action.’
4 New Square, 15th January 2018
Source: www.4newsquare.com
‘A PPI company that made 75 million nuisance calls in just four months has been fined £350,000 by the Information Commissioner’s Office. The director of Miss-sold Products UK Ltd will not face any punishment despite the company he ran “blatantly ignoring the law” because of shortcomings in existing legislation, the ICO said on Wednesday.’
The Independent, 17th January 2018
Source: www.independent.co.uk
‘A revised UK Corporate Governance Code, intended by the Financial Reporting Council (FRC) to be “shorter and sharper” and to restore public trust in business, is due to come into force for accounting periods beginning 1 January 2019’
OUT-LAW.com, 18th December 2017
Source: www.out-law.com
‘“The corporate veil” is a much discussed, but much misunderstood phrase. When Lord Halsbury LC stated in Salomon v A Salomon and Co Ltd [1897] AC 22 that a limited liability company was to be viewed ‘like any other independent person with its rights and liabilities appropriate to itself’ he imbedded in law the idea of corporations having a separate legal identity from their directors. That principle is agreed. What has been in dispute, and is still uncertain to a degree, is when that separation can be made. ‘
Drystone Chambers, 4th December 2017
Source: drystone.com
‘Business Secretary Greg Clark has set out the government’s corporate governance reforms to enhance the public’s trust in business.’
Source: www.gov.uk/government/organisations/department-for-business-energy-and-industrial-strategy
‘Critics rounded on the Government today as it published the full detail of new laws aimed at cracking down on excessive boardroom pay.’
The Independent, 29th August 2017
Source: www.independent.co.uk
‘A golf company director has been jailed over the manslaughter of a man with learning difficulties who drowned as he dived for lost balls in a cold, murky course lake.’
The Guardian, 10th July 2017
Source: www.theguardian.com
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