‘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.’
Law Commission, 9th June 2021
Source: www.lawcom.gov.uk/
‘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.’
Mills & Reeve, 8th June 2021
Source: www.mills-reeve.com
‘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.’
Local Government Lawyer, 28th May 2021
Source: www.localgovernmentlawyer.co.uk
‘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.’
Hardwicke Chambers, 11th May 2021
Source: hardwicke.co.uk
‘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.’
Local Government Lawyer, 7th May 2021
Source: www.localgovernmentlawyer.co.uk
‘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.’
Family Law, 6th May 2021
Source: www.familylaw.co.uk
‘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.’
OUT-LAW.com, 20th April 2021
Source: www.pinsentmasons.com
‘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.’
OUT-LAW.com, 16th April 2021
Source: www.pinsentmasons.com
‘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.’
Mills & Reeve, 8th April 2021
Source: www.mills-reeve.com
‘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.’
OUT-LAW.com, 12th March 2021
Source: www.pinsentmasons.com
‘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.’
Hardwicke Chambers, 4th November 2020
Source: hardwicke.co.uk
‘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.’
3 Hare Court, 2nd November 2020
Source: www.3harecourt.com
‘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.’
The Guardian, 9th November 2020
Source: www.theguardian.com
‘The Government has asked the Law Commission to investigate the laws around corporate criminal liability and provide options to reform them.’
Law Commission, 3rd November 2020
Source: www.lawcom.gov.uk
‘Any company with “lumpy” profits which would be disadvantaged by a time-based apportionment of oil-related profits for UK tax purposes is entitled to elect for a different profit apportionment method, the Court of Appeal has ruled.’
Out-Law.com, 2nd November 2020
Source: www.pinsentmasons.com
‘In this article Richard Bottomley gives an overview of what Company Voluntary Arrangements (“CVAs”) are, when they are used and the advantages and disadvantages to the company and creditors.’
3 Hare Court, October 2020
Source: www.3harecourt.com
‘In its Judgment handed down on 12 October 2020, [[2020] UKPC 24], the Privy Council, comprised of Lord Hodge, Lord Briggs, Lady Arden, Lord Leggatt and Lord Burrows, provided a welcomed clarification of the law applicable to the just and equitable winding-up of a company; with a particular emphasis on the alternative rules which apply to those companies having the status of a quasi-partnership.’
Exchange Chambers, 16th October 2020
Source: www.exchangechambers.co.uk
‘Time flies when you are having fun, or so the saying goes. I think it flies whether you are having fun or not, although I’m sure we’ve all experienced those moments when it isn’t flying at all and it feels like it has stood still. As Pink Floyd famously sang, “Ticking away the moments that make up a dull day”. You may wonder why I am talking about time. Well, it’s because of the events leading up to Fraser J’s judgment in John Doyle Contractors Ltd v Erith Contractors Ltd. They are all to do with time.’
Practical Law: Construction Blog, 29th September 2020
‘Hot on the heels of the Supreme Court’s decision in Bresco Electrical Services Ltd v Michael J Lonsdale (Electrical) Ltd, in what may be the first summary judgment to enforce an adjudicator’s decision in favour of a party in administration, we have successfully represented the claimant in Styles and Wood Ltd (in administration) (S&W) v GE CIF Trustees Ltd.’
Practical Law: Construction Blog, 1st October 2020
‘In this case comment, David Bridge and Jessica Foley, both solicitor-advocates within the CMS litigation & arbitration team, comment on the decision handed down by the UK Supreme Court earlier this summer in the matter of Sevilleja v Marex Financial Ltd [2020] UKSC 31, which concerned whether the rule against reflective loss bars creditors of a company from claiming directly against a third party for asset-stripping the company.’
UKSC Blog, 4th September 2020
Source: ukscblog.com
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