When investing in a business it’s important to have a written agreement clearly stating the terms and conditions that apply. Failure to do so can result in costly confusion as occurred in a recent case before the High Court. It involved an investor who put £50,000 into a business on the understanding that he would
It is not uncommon for a company’s business to be disrupted because a supplier to fails to deliver materials on the agreed date. In such cases, how do you assess the extent of the damage caused and whether it may be possible to claim compensation? A recent case involving an airline company gives a useful
An estate agency that was cut out of a property deal after finding a prospective buyer has been awarded its £75,600 commission in full. The High Court heard that the agency was hired by a company wanting to sell a commercial property. The agency found a purchaser in Cyprus. The purchaser agreed to pay a
The Queen’s Speech outlined several Bills that could have a significant impact on businesses. The government says the main theme behind most of its proposals is to strengthen the UK’s competitiveness and to create conditions that will enable companies to create more jobs. These are some of the main proposals: Enterprise Bill This aims to
Financial advisers should be given more protection against negligence claims if proposed new regulations come into effect. That is the call from two of the major trade bodies involved in the finance sector. The issue has arisen because the Financial Conduct Authority (FCA) is consulting on proposed changes to the pension transfer rules. The FCA
The Supreme Court has rejected the idea that directors can avoid responsibility for offences like fraud by trying to make their company responsible for their wrongdoing. The case, involving Bilta UK Ltd and Swiss company Jetivia SA, helps to clear up some uncertainty over the extent to which directors, as opposed to the company itself,
An agency that received a multi-million pound secret commission when helping in the purchase of a hotel has been told it must hand over the money to the parent company for which it was working during the transaction. The issue arose after the agency was engaged by a company wishing to buy a hotel. During
Thinking of starting a business on your own or with a business partner? Don’t leave it too late to consider the legal issues and budget for them! Here are the top issues we are most commonly asked to advise on by new entrepreneurs: Business Entity: Will you start up as a sole trader (under your
Two brothers have been banned from being company directors after they breached their duty to creditors when their business went into liquidation. The two men ran a company that provided payroll services. The business got into financial difficulties and was wound up in October 2012. An Insolvency Service investigation found that two weeks after the
A steel production company has won a damages claim against a former director and members of his family after they formed a rival start-up business. The director, his son and daughter-in-law all worked for the production company at the same time. The son and daughter-in-law left to set up their own business in the same