Received a winding-up petition? 9 things you need to consider
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 ask for a winding up petition to be issued, although courts view this remedy as something that should be reserved for when a company is
What Are My Rights in Shareholder Disputes?
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 are not in the company’s best interests. In many cases, the shareholders are also directors of the company. The area of shareholder rights is a
What are the different types of misrepresentation?
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 not need to be in a formal written document, it can be information given in a conversation, meeting or sales pitch. If misrepresentation can be
What Are Directors’ Duties When a Company Is Insolvent?
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 a company in the future. We look at exactly what a director’s duties on company insolvency are and some of the risks to be aware
Minority shareholder disputes: What are your rights?
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 are overstepping their authority or where they simply feel that their views are not being taken into account. Failure to address the situation will often
Supreme Court decision on litigation funding causes concern
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. The case examined whether a type of litigation funding agreement which allowed the funder to recover a percentage of the damages were considered to be
A guide to remedies for breach of contract: Disputes, resolutions and damages
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 is important to ensure that you fully understand the legal position that you find yourself in. If the contract has not ended, you could potentially
11 Key Differences Between Arbitration vs Litigation
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 key differences. Choosing the right process is important. Some disputes, such as business disputes, property disputes, and consumer claims are well-suited to arbitration, while others,