Oral contracts and the intention to create legal relationships

September 22, 2017

It is a principle of common law that a contract cannot be made without an intention to create a legally binding arrangement. An objective test is applied by the courts to determine whether parties intended to be bound.  Consideration is given to what was communicated between the parties by words or conduct, and whether that … Continue reading Oral contracts and the intention to create legal relationships

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Changes to the PSC Regime – What you need to know

July 19, 2017

In our previous article, Requirement to maintain a PSC Register, we outlined the responsibilities and obligations companies have had since 6 April 2016 following the introduction of The Register of People with Significant Control Regulations 2016. Since 6 April 2016, most companies and LLPs incorporated in the UK have been legally required to maintain a … Continue reading Changes to the PSC Regime – What you need to know

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Nelmes – v – NRAM plc: Unfair relationships in the context of the Consumer Credit Act 1974

November 4, 2016

In the recent case of Nelmes v NRAM plc, the Court of Appeal ruled on an unfair relationships claim relating to a loan by Northern Rock to refinance buy to let properties. It found that the payment of a procuration fee by a lender to mortgage broker under an undisclosed arrangement can give rise to … Continue reading Nelmes – v – NRAM plc: Unfair relationships in the context of the Consumer Credit Act 1974

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Bank Loans or Invoice Financing? Which is better?

October 31, 2016

Why would you pick Invoice Financing over a Bank loan? A loan is credit, usually in the form of cash, that you borrow and repay over an agreed length of time. As well as repaying the amount you’ve borrowed, you normally have to pay interest on a loan. The amount will depend on: how long … Continue reading Bank Loans or Invoice Financing? Which is better?

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Selling your business…

October 20, 2016

It may be a good time to start thinking about your own business and whether the time might be right to sell. Selling can realise the value you have put into a business and reap the benefits that a sale can bring. Below are 10 top tips to consider if you are thinking about selling your … Continue reading Selling your business…

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Requirement to maintain a PSC register

October 14, 2016

With effect from 6th April 2016, most UK companies are now required to maintain a register of persons with significant control (PSC). This information will need to be provided to Companies House from 30th June 2016 as part of the requirement for companies to file a ‘confirmation statement’ (which replaced the ‘annual return’ requirement). Who … Continue reading Requirement to maintain a PSC register

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Lender not Obliged to Advise Borrower about Onerous Term

July 1, 2016

Finch and another v Lloyds TSB Bank Plc and others [2016] EWHC 1236 (QB)   In general, a bank is not under a legal obligation to provide advice but it has been established by a number of cases that if a bank does provide advice then it must do so using reasonable care and skill. … Continue reading Lender not Obliged to Advise Borrower about Onerous Term

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What’s in a name? The Company Name Regulations

October 13, 2015

It is important to take care when choosing a company name as there are regulations that govern the choices available when incorporating a company or changing its name. Recently though the government has attempted to simplify such regulations in an effort to reduce the administrative burdens on companies. These new regulations will amend the rules … Continue reading What’s in a name? The Company Name Regulations

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UK Company Law Reform – The Small Business, Enterprise and Employment Act 2015

October 2, 2015

The Small Business, Enterprise and Employment Act 2015 (the “SBEE”) received Royal Assent on 26 March 2015 and certain provisions have come into force while other provisions remain the subject of further consultation and draft regulations. The SBEE is due to be implemented by October 2016 and will materially reform existing UK company law. We … Continue reading UK Company Law Reform – The Small Business, Enterprise and Employment Act 2015

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Companies House may now use electronic means to strike off defunct companies and LLPs

August 15, 2015

The power of the Registrar of Companies to strike off a company or LLP not carrying on business or in operation has been amended so that the Registrar’s attempts to communicate with the company or LLP prior to it being struck off may be made by electronic communication, rather than by posting a letter. The Companies (Striking Off) … Continue reading Companies House may now use electronic means to strike off defunct companies and LLPs

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Business Eye 01 – Laying the Foundations

July 4, 2011

In this issue the process of turning an inward investment announcement into a commercial reality begins as CFR’s client targets an existing indigenous operation. Corporate partner, and project manager on the deal, Scott Kennedy shares his work blog with us. Mon 16 June: A frenetic few weeks. A large US software company has instructed us to advise on an exciting new deal. They are looking … Continue reading Business Eye 01 – Laying the Foundations

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The Bribery Act 2010 – In Force 1 July 2011

The Bribery Act 2010 (the “Act”) came into force on 1st July 2011. On 30th March 2011 the Ministry of Justice published much anticipated guidance (the “MOJ Guidance”) on the scope and impact of the Act. The MOJ Guidance centres on the procedures which commercial organisations can put in place to prevent persons associated with them from … Continue reading The Bribery Act 2010 – In Force 1 July 2011

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Business Eye 05 – Closing the Deal

February 23, 2009

Lead partner on the deal, Scott Kennedy, who has been talking us through the legal aspects of the deal from the outset, describes what goes on during the final day of negotiations via his blog diary: Fri 25th: Completion day is here. It’s been hard work getting to this point in a relatively short period of time but the effort is about to pay off and the much-talked … Continue reading Business Eye 05 – Closing the Deal

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Business Eye 04 – Sale and Purchase Agreement

In this issue, with completion deadline looming, the team of lawyers advise on some tricky negotiations between the locally based vendors and their client relating to the Sale and Purchase Agreement (SPA). Scott Kennedy, corporate partner and project manager on the deal, gives us an insight into the firm’s work via his blog diary: Weds 25th: The principle of “buyer beware” applies in much the same way in the US as … Continue reading Business Eye 04 – Sale and Purchase Agreement

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Business Eye 03 – Relocation Issues

Scott Kennedy, corporate partner and project manager on the deal, shares his work blog with us. Mon 23rd: The target holds its current offices under a lease, which is due to expire within the next few months. Sorting out new premises is one of the client’s biggest priorities right now. The current offices are old and about 30 miles outside Belfast, which just isn’t viable long term … Continue reading Business Eye 03 – Relocation Issues

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