Up to one million small to medium-sized enterprises (SME) in Europe fail to recover cross-border debts. The average amount of debt written off by these companies is €600. This means that €600m is lost to cross-border debts every year. Due to the relatively small figure that the average SME is owed, they often find it
The tenant had a 25-year lease and wanted to activate the break clause. The clause stated that any notice exercising the right to break “must be expressed” as being given under the Landlord and Tenant Act 1954 s.24(2). The tenant complied with all aspects of the clause including serving notice within the appropriate time period
For those who fail, however, it can prove costly and demoralising. You can improve your chances of success by doing your homework before starting work or investing any money. Test your great idea You may think you have a great idea for a new business but are you sure other firms haven’t had exactly the
However, there has to be evidence of unlawful behaviour as opposed to the majority shareholders simply conducting business in a way contrary to the wishes of the minority. A recent case before the High Court involved a businessman who was a minority shareholder in an aviation company. He claimed that he had bought his shares
Tenants will be better protected from unscrupulous landlords and agents by a raft of new measures now coming into force, according to Housing Minister Kris Hopkins. Mr Hopkins said: “All tenants and leaseholders have a right to fair and transparent treatment from their letting agent. That’s why we will require all agents to belong to
A court has ruled that a restrictive covenant involving a software company and a former employee was reasonable and so therefore enforceable. The company produced software for the fresh produce industry. They licensed their products for 12-month periods and renewed the licence upon payment of an annual fee. The sales manager had a post-termination restrictive
Employers who fail to pay their employees the National Minimum Wage now face financial penalties of up to £20,000. The penalty was previously a fine of 50% of the total underpayments to a maximum of £5,000. It is now a fine of 100% of total underpayments to a maximum of £20,000. The new limits came
A court has ruled that a landlord was within his rights to refuse to renew tenancies to shopkeepers who had pestered him with frivolous lawsuits. The issue arose because over several years, the shopkeepers had brought a total of 10 claims against the landlord saying that he had obstructed their rights of way and their
An insurance company has won a legal dispute with a trade union over commission payments on the sale of its services to new customers. The case involved Unite the Union and Liverpool Victoria Banking Services. They had an agreement whereby Unite allowed Victoria access to its members in order to market and sell services to
Late payments now lead to more credit insurance claims than insolvency, according to a recent survey. In the first three quarters of 2013, 60% of claims were made because of a customer’s protracted default, with 40% because of customer insolvency. That is in contrast to 33% for protracted default and 67% for insolvency the previous