Category: company law

Company Law: What happens on the death of a shareholder? – Bloomsbury Professional Law Online Blog

Posted August 5th, 2021 in company law, executors, inheritance tax, news, shareholders by sally

‘According to the office of national statistics, sole proprietor businesses and partnerships are decreasing and the use of private limited companies is increasing. 72.5% of total UK businesses are either private or public limited companies – London remains the region with the largest number of such businesses with 19.2% of the UK total.’

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Bloomsbury Professional Law Online Blog, 4th August 2021

Source: law.bloomsburyprofessional.com

The rise of ‘fire and rehire’ strategies in retail – Parklane Plowden Chambers

Posted July 29th, 2021 in chambers articles, company law, coronavirus, employment, news by sally

‘Richard Ryan, specialist employment barrister at Parklane Plowden Chambers, explains the legalities around fire and rehire strategies.’

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Parklane Plowden Chambers, 21st July 2021

Source: www.parklaneplowden.co.uk

‘Breathing space’ on contractual disputes – Law Society’s Gazette

Posted July 26th, 2021 in arbitration, company law, contracts, coronavirus, dispute resolution, government departments, insolvency, news by sally

‘At the start of the first lockdown in March 2020, both the government and the courts made efforts to provide ‘breathing space’ for companies and stem the tide of legal action flowing out of Covid-19’s disruption to business.’

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Law Society's Gazette, 26th July 2021

Source: www.lawgazette.co.uk

Rights groups join forces to call for UK corporate accountability laws – The Guardian

Posted July 5th, 2021 in company law, environmental protection, human rights, news by tracey

‘Almost 30 organisations have joined forces to call for the UK to follow in the footsteps of its European partners by introducing corporate accountability laws requiring companies to undertake human rights and environmental due diligence across their supply chains.’

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The Guardian, 4th July 2021

Source: www.theguardian.com

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

Posted June 23rd, 2021 in bills, company directors, company law, forced labour, news, trafficking in human beings by sally

‘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.’

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OUT-LAW.com, 22nd June 2021

Source: www.pinsentmasons.com

Giving staff legal right to work from home will ‘cause corporate chaos’, businesses warn – The Independent

Posted June 18th, 2021 in company law, coronavirus, employment, flexible working, government departments, news by tracey

‘Businesses have warned Boris Johnson’s government that any attempt to give employees the legal right to work from home would cause “chaos” in offices across the country.’

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The Independent, 17th June 2021

Source: www.independent.co.uk

Law Commission seek views on corporate criminal liability – Law Commission

Posted June 11th, 2021 in company directors, company law, consultations, criminal justice, Law Commission, press releases by tracey

‘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/

Court sanctions Part 26A restructuring plan – Mills & Reeve

Posted June 10th, 2021 in choice of forum, company law, conflict of laws, insolvency, jurisdiction, news by sally

‘The court considered whether it could make an order sanctioning a Part 26A restructuring plan (“Plan”) where the company was incorporated in England to rely on the English court’s jurisdiction to sanction a Plan.’

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Mills & Reeve, 8th June 2021

Source: www.mills-reeve.com

The Cram Slam – Part 26A Restructuring Plans and Commercial Leases – Local Government Lawyer

Posted May 28th, 2021 in company law, debts, insolvency, landlord & tenant, news by tracey

‘David Nelson looks at the impact on landlords of a controversial High Court decision to allow a restructuring plan for a chain of health clubs.’

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Local Government Lawyer, 28th May 2021

Source: www.localgovernmentlawyer.co.uk

Much Ado About Nothing: Technical Breaches of Directors’ Disclosure Duties in Fairford Water Ski Club v Cohoon & Anor [2021] EWCA Civ 143 – Hardwicke Chambers

Posted May 26th, 2021 in appeals, chambers articles, company directors, company law, conflict of interest, disclosure, news by sally

‘In Fairford Water Ski Club Ltd v Cohoon & Anor [2021] EWCA Civ 143, the Court of Appeal considered a highly technical breach of the duty imposed on company directors to disclose any interest in a contract or proposed contract entered into by their company. The decision considers several practical issues surrounding the duty to disclose, such as whether disclosure is effective only if given after the terms have been agreed and the board has considered whether these represent fair value; and whether disclosure at a first board meeting is effective for subsequent meetings. The case also highlights differences in the statutory frameworks applicable to the duty under the Companies Act 1985 and 2006.’

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Hardwicke Chambers, 11th May 2021

Source: hardwicke.co.uk

Public houses and the ACV regime: the latest rulings – Local Government Lawyer

Posted May 10th, 2021 in appeals, assets of community value, company law, compensation, licensed premises, news by tracey

‘Christopher Cant analyses the latest appeal decisions in relation to the listing of pubs as assets of community value, covering issues including the recent past, financial viability and compensation.’

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Local Government Lawyer, 7th May 2021

Source: www.localgovernmentlawyer.co.uk

Profession: Expert Witness – Family Law

Posted May 10th, 2021 in company law, divorce, expert witnesses, financial dispute resolution, news, valuation by tracey

‘The value of a family business or business interest is treated as an asset and therefore part of the matrimonial pot to be distributed when it comes to negotiating a financial settlement on divorce or in dissolution settlements. Since the business valuation may be the most significant component of the total matrimonial assets, it needs to be ascertained with care, normally with expert assistance, in order to achieve a fair division of family wealth on divorce.’

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Family Law, 6th May 2021

Source: www.familylaw.co.uk

UK company law change could make section 172 fit for purpose – OUT-LAW.com

Posted April 21st, 2021 in chambers articles, company directors, company law, news, shareholders, statute law revision by tracey

‘A relatively small change to section 172 of the UK’s Companies Act 2006 could have a transformative impact on company law, directors’ duties, corporate governance, businesses and, ultimately, the economy, society, and the environment.’

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OUT-LAW.com, 20th April 2021

Source: www.pinsentmasons.com

Very large organisations could see fines for health and safety offences double – OUT-LAW.com

Posted April 19th, 2021 in appeals, company law, employment, fines, health & safety, news, proportionality by tracey

‘Very large organisations may see fines for health and safety breaches doubled, according to the Court of Appeal in England and Wales. There remains, however, no clear judicial guidance on what the threshold for “very large” looks like in practice.’

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OUT-LAW.com, 16th April 2021

Source: www.pinsentmasons.com

Part 26A scheme not within scope of Lugano Convention – Mills & Reeve

Posted April 13th, 2021 in brexit, company law, insolvency, news, treaties by sally

‘The insolvency criteria for instigating a Part 26A scheme had the effect that Part 26A schemes fall within the insolvency carve out contained in the Lugano Convention and so are not within its scope.’

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Mills & Reeve, 8th April 2021

Source: www.mills-reeve.com

High Court: restructuring plans are ‘insolvency proceedings’ – OUT-LAW.com

Posted March 15th, 2021 in banking, brexit, company law, EC law, insolvency, jurisdiction, news by tracey

‘A recent High Court decision on the legal status of a UK statutory restructuring plan may impact on the way in which these proceedings are viewed by European courts post-Brexit.’

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OUT-LAW.com, 12th March 2021

Source: www.pinsentmasons.com

What is the meaning of “good will”? The Court of Appeal continue the debate – Hardwicke Chambers

Posted November 19th, 2020 in accounts, company law, contracts, exclusion clauses, interpretation, legal language, news by sally

‘In Primus International Holding Company & Ors v Triumph Controls – UK Ltd & Anor [2020] EWCA Civ 1228, the Court of Appeal grappled with the proper interpretation of “goodwill” in a commercial contract, considering the natural meaning of “goodwill” in the commercial context and the definition prevalent in accounting practice. The case provides a useful reminder of the approach taken by the courts when construing contracts, highlighting the need for parties to spell out clearly their intended meaning of a term in their contractual agreement if they wish to depart from its ordinary and natural meaning.’

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Hardwicke Chambers, 4th November 2020

Source: hardwicke.co.uk

CVAs, COVID-19 and Rescue Culture – 3 Hare Court

Posted November 10th, 2020 in company law, coronavirus, insolvency, news by sally

‘Businesses across the United Kingdom are facing treacherous times. The COVID-19 pandemic and its consequent restrictions have caused many businesses to suffer a pronounced drop in income, turnover and profits whilst still being liable to pay overhead costs such as rent to landlords. When businesses start to re-open, they will need to find a way to pay the overhead costs accrued during the COVID-19 pandemic, as well as ongoing costs.’

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3 Hare Court, 2nd November 2020

Source: www.3harecourt.com

UK to make climate risk reports mandatory for large companies – The Guardian

Posted November 10th, 2020 in climate change, company law, financial regulation, news by sally

‘Large companies and financial institutions in the UK will have to come clean about their exposure to climate risks within five years under the terms of a tougher regime announced by the chancellor, Rishi Sunak.’

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The Guardian, 9th November 2020

Source: www.theguardian.com

Law Commission begins project on Corporate Criminal Liability – Law Commission

Posted November 4th, 2020 in company law, criminal justice, Law Commission, press releases, statute law revision by tracey

‘The Government has asked the Law Commission to investigate the laws around corporate criminal liability and provide options to reform them.’

Full press release

Law Commission, 3rd November 2020

Source: www.lawcom.gov.uk