Director ordered to pay £20,000 after breaching his duties
May 13th 2019By Mark Aspin Director A director has been ordered to pay £20,000 for breaching his legal duties shortly before his company went into liquidation. The director had run a freight-forwarding company from 2011 until its voluntary liquidation in 2015. He had been the sole shareholder. His father had previously been a co-director of the company and continued to work for it. The company operated from the father’s home. The director…
Husband and wife lose £40,000 deposit in failed company purchase
April 24th 2019By Mark Aspin Director & Head of Dispute Resolution A husband and wife who tried to buy a business have lost their £40,000 deposit after the High Court ruled they could not claim a refund when the deal fell through. The couple wanted to buy a waste collection company. They were introduced to the sole shareholder and a tentative agreement was made that they would buy the business for £210,000.…
Tenant awarded £18,000 rent refund after wall collapses
January 7th 2019By Mark Aspin, Director and Head of Dispute Resolution A tenant has been awarded a refund of more than £18,000 after a wall collapsed at the property he was renting. The court heard that the tenant had signed a two-year lease on a house with no break clause. He paid all the £34,000 rent in advance. After moving in, the tenant contacted the letting agent to draw attention to the…
Investors compensated as if failed project had not happened
December 7th 2018Mark Aspin Director and Head of Dispute Resolution The High Court has ruled that investors who had been persuaded to place money in a joint venture as a result of deceit should be compensated as if the failed project had not happened. The investment had been undertaken by Kea Investments Ltd, which placed £129m in a joint venture vehicle. The court ruled that as Kea had been induced to make the…
Call for evidence to combat late payments to small businesses
November 2nd 2018Mark Aspin, Director and Head of Dispute Resolution The government is urging businesses to highlight their experiences of late payment and put forward ideas to ensure earlier settlement, especially by large companies. One in four UK businesses say that late payments are a threat to their survival. Research by the Federation of Small Businesses suggests that prompt payments could add £2.5 billion to the UK economy and keep an extra…
