Wrongful or insolvent trading: Can directors be personally liable? Wrongful trading occurs when company directors continue to trade past the point when they knew or should have known that there was no reasonable prospect of avoiding insolvent liquidation and in addition they did not attempt to minimise potential loss to the company’s creditors
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The FCA and business insurance: Are Covid-19 interruptions covered? Following disputes and disagreement over whether business insurance companies were required to pay out on business interruption policies following the Covid-19 outbreak, the Supreme Court has made a ruling which will help many businesses make successful insurance claims. On 15 January 2021, the Supreme
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
The Legal Industry in 2021: Advice, guidance and representation The difficulties of 2020 forced the legal industry to adapt quickly to provide advice, guidance and representation to clients during lockdowns and commercial turmoil. We understand more about the changes in the legal industry in 2021. Lawyers have on the whole moved rapidly to
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,
Employment law: What changes should we expect in 2021 following the pandemic? Employment law changes following the pandemic and changes expected in 2021 As the New Year rolls around, the government’s Coronavirus Job Retention Scheme (CJRS) remains in force, with the possibility of the Job Support Scheme to follow on. Combined with other
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
Covid-19 debt recovery: How can I make a claim during the pandemic? While the government’s temporary rules seek to protect businesses during troubled times, curbing Covid-19 debt recovery measures is increasing the pressure on many. We take a look at the new legislation and at what options are available for those who are
Partnership disputes: How can I avoid a litigation case arising from a bad partnership agreement? A well-drafted agreement forms the basis of a strong partnership. By clearly setting out the rights and responsibilities of each partner, partnership disputes can often be avoided. When a new partnership is set up, sometimes the partnership agreement
Launching a new business in the UK: What do I need to know before I get started? Notwithstanding the current difficult climate caused by covid 19, new businesses continue to be formed. Creating a new enterprise is exciting but the list of considerations before launch day is long. At Lincoln & Rowe we
Lockdown tensions: Settling ongoing neighbour disputes during the pandemic With many of us spending substantially more time at home, what were seemingly minor problems with neighbours might start becoming more of an issue than they were before. Neighbour disputes can arise from behaviour that we have previously ignored or not had time to
The recession, Covid-19 & the effects on UK employment: Will redundancy rates increase when the furlough scheme ends?
The recession, Covid-19 & the effects on UK employment: Will redundancy rates increase when the furlough scheme ends? With the recession caused by the pandemic reducing UK economic output by a quarter, redundancy figures are soaring. Numbers for the three months to 31 May showed the fastest increase in quarterly job losses since
Key issues for landlords and tenants in the UK in light of the Coronavirus Act 2020 A ban on residential evictions in England and Wales was put in place at the beginning of the Covid-19 pandemic, extended until 20 September 2020. When the courts begin hearing eviction cases again, the most serious cases
Surviving the UK’s deepest recorded recession The current recession, triggered by the Covid-19 lockdown, is the worst of any experienced by the G7 nations as well as being the biggest UK recession since records began in 1955. Despite growth returning, the effect of such a deep fall in GDP will have an ongoing
HMRC restored to secondary preferential for creditors: How does this impact secured lending? The Finance Act 2020 (‘the Act’) which received royal assent in July 2020 has returned HMRC to the position of secondary preferential creditor in insolvent liquidations. This change will come into effect on 1 December 2020 and will mean that