Security for costs relating to Claimant’s based outside of England and Wales There is a general principle in litigation that the losing party will pay the successful party’s legal costs. Where a defendant has concerns that the other side may not pay their costs, they can ask the court to make a security for
Facing corporate insolvency: What do I need to know about personal guarantees? Owners and directors of small and medium-sized businesses and start-ups are often required to sign personal guarantees in order to secure funding. Should you face corporate insolvency a personal guarantee can put all of your personal assets at risk, including your family
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
Hague Convention on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters ratified by UK government The UK government has now ratified the Hague Convention of 2 July 2019 on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters. It will take effect on 1 July 2025 in
Do Statutory Limitation Periods Apply to Unfair Prejudice Petitions? For several decades, the prevailing wisdom had been that unfair prejudice petitions brought under s.994 of the Companies Act were not subject to the statutory limitation periods set out in the Limitation Act 1980. This principle was highlighted in the case of Bailey v Cherry
Fraudulent misrepresentation and conspiracy case looks at elements of deceit A recent fraudulent misrepresentation and unlawful means conspiracy case has looked at the elements needed to prove a claim. A hearing in the case of GI Globinvestment Ltd & ors v Federico Faleschini & ors [2024] examined whether the claimants’ case against some of
The new Economic Crime and Corporate Transparency Act 2023 and its impact The Economic Crime and Corporate Transparency Act 2023 (ECCTA) has received Royal Assent. The new act aims to stop organised criminals, fraudsters, kleptocrats and terrorists from using corporate bodies such as companies and partnerships for their purposes. It is also intended to
Shareholder remedies: How can I resolve a shareholder dispute? When a shareholder’s rights have not been observed by a company and/or its directors, it is possible for them to ask the court to impose a fair remedy. There are three bases on which an application can be made to the court for shareholder remedies
Misrepresentation and the 11 facts you need to know When someone is induced to enter into a contract because of a false statement made to them by the other party to the contract and they subsequently suffer a loss because of their reliance on that false statement, they are a victim of misrepresentation. A
Breach of contract explained and the 7 questions you need to ask Contracts form the basis of legal agreements in all areas of life. They do not have to be in writing, although most are, particularly when dealing with business matters. Every valid contract must have four key elements: offer, acceptance, consideration (ie. something
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
