Company and Commercial Law

Legal firm offers free guide to SME businesses

September 8th 2021
 

A LEADING legal firm has produced a handy guide for businesses planning for the future. Cartmell Shepherd Solicitors, who are members of the UK200Group, have created the ‘Top 20 Tips for SMEs’ guide which focuses on practical steps businesses can take. The guide highlights the three key areas that businesses should focus on: their cash, their people and their customers. Commenting on the guide, Sam Lyon, Head of Corporate and…

Jewellery designer wins passing off claim against rival

August 31st 2021
 

A jewellery designer who had built up a strong brand reputation has won a passing off claim against a new business using a similar name. Sam Lyon Head of Corporate & Commercial reports on this recent case. The Intellectual Property Enterprise Court heard that Alyssa Smith started out as a sole trader in 2009, using the trading signs Alyssa Smith Jewellery, Alyssa Jewellery and @alyssajewellery. She attracted media attention, with…

directors

Father granted access to business records in family dispute

August 16th 2021
 

A father has been granted access to information concerning the family businesses of which he was a director. Mark Aspin Director & Head of Dispute Resolution reports on this recent case. The issue arose because he was in dispute with his son and daughter-in-law, who were also directors. The family business comprised of companies that operated residential care homes. The father and mother established and ran it on their own…

Directors breached their duties when setting up their pensions

August 11th 2021
 

The High Court has ruled that two directors breached their legal duties when they used company property to fund their pensions. Sam Lyon Head of Corporate & Commercial reports on this recent case. The case involved a company that had been incorporated in 1998 to take over a volunteer-run project that renovated and resold donated furniture. In 2001 the company bought a property as its premises. Some of its profits…

directors

Finance consultants entitled to their €855,000 commission

August 3rd 2021
 

A finance consultancy was entitled to €855,000 commission for its part in acquiring investment money for a large property development. Sam Lyon Head of Corporate & Commercial reports on this recent case. That was the decision of the Court of Appeal in a case involving EMFC Loan Syndications and The Resort Group. The Group had engaged EMFC to assist it to raise financing of up to €130 million.  The contract stated…

directors

Directors who breached their duties ordered to repay £600k

July 12th 2021
 

Two businessmen who breached their legal duties as company directors have been ordered to repay £600,000, even though the court accepted that one of them probably hadn’t realised that anything unlawful was happening. Sam Lyon Head of Corporate & Commercial reports on this recent case. The case involved TMG Brokers Ltd, which had gone into liquidation. The liquidator applied for declarations under the Insolvency Act 1986 in relation to certain payments…

directors

Directors who dissolve their businesses unfairly face new sanctions

June 21st 2021
 

The government is introducing new legislation to target company directors who dissolve their businesses for their own gain and leave staff or taxpayers out of pocket. Sam Lyon Head of Corporate & Commercial provides an update. The Insolvency Service will be given powers to investigate directors of companies that have been dissolved, closing a legal loophole and acting as a strong deterrent against the misuse of the dissolution process. The…

directors

Financial services directors disqualified for trading while insolvent

June 9th 2021
 

Two financial services directors have been disqualified for continuing to trade and take money from clients while their company was insolvent. Sam Lyon Head of Corporate & Commercial reports. Paul Rossi was a director of Independent Derivative Traders Ltd. The company traded as ‘Futex’ and provided access to a financial markets trading platform for sub-contracted independent traders. He was joined in the management of the company by his brother Mark and…

directors

Company loses $3m because of conflicting contract terms

June 3rd 2021
 

A company has lost $3m dollars because it had agreed to contradictory contract terms when entering into a purchase agreement. Sam Lyon Head of Corporate & Commercial reports on this recent case. The case involved Septo Trading Inc, which contracted to import fuel oil supplied by Tintrade Ltd. The terms were recorded in an email confirmation (the Recap). A clause in the Recap stated that a quality certificate issued by…

directors

What is the outlook for SMEs? Practical Guidance for SMEs looking to Futureproof their business

May 10th 2021
 

12 months on and we are still feeling the effects of the pandemic and will for some time.  In March, immediately after the Chancellors latest budget, we asked SMEs across the UK to share their outlook for the next 12 months.  The findings make for interesting reading – including: 46% of businesses with less than £250k turnover are expecting reduced income over the next 12 months.67% of businesses with more…

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