Director Disqualification: what do I need to know? When a company director fails to carry out their legal responsibilities, they run the risk of being disqualified. This can be a lengthy procedure resulting in a period of disqualification during which it is not permitted to form, promote or manage a company. The main law
Received a winding up petition? 9 things you need to consider A winding up petition is a legal document that can be served by a company’s creditors when they are owed money by the company. If the debt amounts to £750 or more, then a creditor has the right to go to court and
What Are My Rights in Shareholder Disputes? It is often the case that disputes arise between shareholders and company directors. Those involved may have different opinions in respect of the direction of the company, be concerned about the level or risk or debt being taken on or believe that decisions are being made that
What are the different types of misrepresentation? When entering into a business contract, a variety of statements are usually made setting out the details and background of the deal. If someone enters into a contract in reliance on a statement that later turns out to be untrue, this is misrepresentation. The false statement does
What Are Directors’ Duties When a Company Is Insolvent? If a company becomes insolvent, it is crucial that its directors comply with their legal duties. Failure to do so can result in personal liability for the company’s debts as well as legal action and disqualification from being a company director or being involved in
Minority shareholder disputes: What are your rights? While minority shareholders have limited powers under the terms of the Companies Act 2006, a dispute can cause substantial disruption to a company if it is not dealt with promptly. Disagreements can arise when shareholders object to a certain course of action, when they believe that directors
Supreme Court decision on litigation funding causes concern A recent Supreme Court case has cast doubt on the validity of certain types of litigation funding agreements or LFAs. We look at the detail of R (on the application of PACCAR Inc and others) (Appellants) v Competition Appeal Tribunal and others (Respondents) [2023] UKSC 28.
A guide to remedies for breach of contract When one party to a contract fails to fulfil their obligations under it, it's classed as a breach of contract. Where the other party suffers a loss because of this, they are entitled to ask for a remedy. Before taking action against breach of contract, it
11 Key Differences Between Arbitration vs Litigation Dealing with a legal dispute is never easy. By involving an expert dispute resolution solicitor early on, you stand the best chance of the right outcome. Options open to you include arbitration and litigation. We look at what arbitration and litigation are as well as 11
What are the duties of a company director and what happens if they are breached? Company directors have a number of duties imposed on them under the Companies Act 2006 as well as under common and other laws. Failure to carry out directors' duties can result in substantial penalties, including personal liability for
Negligent Misrepresentation vs. Fraud: Understanding the Key Differences When you enter into a contract with another party, you should be able to rely on the representations that have been made to you before you enter into the agreement. If these statements have induced you to agree to the deal and they turn out to
Fraudulent misrepresentation: How to prove it and how to deal with it Fraudulent misrepresentation is the most grave type of misrepresentation and is taken very seriously by the courts. It arises when someone relies on false information presented to them and as a result enters into a contract. An example would be buying something
Do we still need lawyers now that there’s ChatGPT? AI, and more specifically ChatGPT, has exploded onto the scene, shocking individuals across a wide range of industries into asking, ‘Will it replace me?’. We take a look at whether it’s time to get rid of lawyers. The ChatGPT explosion, what it does, and where
Benefits of bringing a private prosecution if you are a victim of fraud or financial crime Individuals and businesses that have fallen victim to fraud often use the civil courts to claim damages against the fraudster. However, victims can also report the matter to the police. The difficulty is that public prosecutions can be
Directors’ personal liability for misrepresentation The current difficult economy is causing continual financial problems for many businesses. Directors are warned that entering into written agreements to make payments when they know their company is unable to meet its debts may equate to deceit under the terms of the Statute of Frauds (Amendment) Act 1828.
