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Mark Aspin Director and Head of Dispute Resolution provides an update. Since last May, we’ve been following the proceedings launched by the Financial Conduct Authority (FCA) to add some clarity to the availability of “Business Interruption” (BI) insurance as a result of business closures as a result of the pandemic.  Last September the High Court came to its conclusions, and as the national press has now reported the Supreme Court…

A Q&A published by the Law Society’s Company Law Committee covers the practicalities of using electronic signatures in a business context. Sam Lyon, Head of Corporate and Commercial reports. Electronic signatures can take different forms, from simply typing in your name or pasting a scanned image of your physical (or “wet”) signature, to clicking a button to confirm agreement where your identity has been sufficiently verified. The Q&A covers a…

The government has extended the ban on business evictions until the end of March because of the continuing Covid pandemic. Stephanie Johnson Associate Solicitor provides an update. There will also be a review of commercial landlord and tenant legislation, to address concerns that the current framework does not reflect the current economic conditions. This final extension to protections from the threat of eviction will give landlords and tenants 3 months…

The government is considering a crackdown on what it describes as unfair employment contracts that restrict worker freedom. Joanne Stronach Head of Employment & HR reports. The measures could include banning the use of exclusivity clauses, which prevent workers from taking on additional work with other employers. This would apply to workers whose guaranteed weekly income is below the Lower Earnings Limit, currently £120 a week. The change would put…

At Cartmell Shepherd Solicitors we have always encouraged our teams to give back to the communities they serve. It’s at the very heart of what we do. The pandemic has underlined the importance of helping each other and being part of a community. Our support and involvement with charities, online events and organisations has been even more vital during these difficult times. We are fortunate across Cumbria and Northumberland to…

A businessman has won his appeal against his disqualification from being a company director. Sam Lyon Associate Solicitor and Head of Corporate & Commercial reports. Gabriel Gatheru Rwamba had been disqualified in 2009 for four years for failing to appropriately monitor the company’s finances. In 2010, interim orders permitting him to act as a director subject to various conditions were made. He breached that permission by failing to ensure the…

Businesses struggling with debt due to the Covid-19 crisis have been given extra breathing space to help them avoid insolvency. Mark Aspin Director & Head of Dispute Resolution provides an update. A temporary measure introduced by the Corporate Insolvency and Governance Act restricting the use of statutory demands and winding-up petitions, which was due to expire on 31 December 2020, has been extended to the 31 March 2021. This will…

The number of insolvencies has fallen slightly but there are fears that the figures could soon rise and that ‘a wave of business closures could be on the horizon’. Sam Lyon Associate Solicitor and Head of Corporate & Commercial reports. Corporate insolvencies decreased to 856 in October 2020 compared to September’s figure of 925 and remained well below October 2019’s figure of 1,485. Colin Haig, president of insolvency at trade…

A cryptocurrency firm has successfully taken legal action to prevent its former managing director competing against it and from revealing confidential information. Mark Aspin Director and Head of Dispute Resolution reports. The case involved Gemini Europe Ltd and Sawyer (2020). Gemini was part of a group of companies dealing in cryptocurrencies. In November 2019, it had engaged Mr Sawyer as its managing director. The contract included a non-compete clause preventing…

With the pandemic still causing huge problems for many businesses, it’s perhaps not surprising that many remain focussed on survival without too much thought for the future. If possible, however, it’s still important to consider what will happen once the pandemic is over, especially if you are planning to retire from your business and hand it over to the next generation. It could even be that a reduction in business…