Category: For Businesses
Bounce Back Loans and Director Disqualification
The Insolvency Service is continuing to investigate suspected fraud in relation to the Bounce Back Loan Scheme (“BBLS”). Directors and former directors of companies which obtained loans they were not entitled to under the terms of the BBLS will continue to come under investigation by the Insolvency Service and face possible prosecution where fraud is... Read more »
Personal Guarantees – the last straw?
One of the biggest attractions for directors who are also the sole owners of a limited company is the notion that if things do not work out and the business fails their liability will be limited to their personal investment. However, as a company director you may be asked to provide a personal guarantee. A... Read more »
Commercial Lease Break Clauses
What is the Break Clause in a Commercial Lease? The break clause in a lease or contract provides a mechanism for one party to terminate or “break” the agreement before its specified end date. It’s essential to note that not all contracts or leases include break clauses, so a thorough review of the lease is... Read more »
Commercial Lease Renewals – Section 26 Landlord and Tenant Act 1954
The landlord-tenant relationship is governed by various laws, and one key piece of legislation in the UK is the Landlord and Tenant Act 1954 (LTA54). Within this Act lies Section 26, this addresses a tenant’s right to request a new tenancy. Service of a Section 26 Notice brings the old tenancy to an end but... Read more »
Commercial Lease Renewals – Section 25 Landlord and Tenant Act 1954
The landlord-tenant relationship is governed by various laws, and one key piece of legislation in the UK is the Landlord and Tenant Act 1954 (LTA54). Within this Act lies Section 25. What is Section 25? The Landlord and Tenant Act 1954 was enacted to provide security of tenure for commercial tenants, offering a structured framework... Read more »
Directors’ liabilities after resignation
This is the third, and final article, in a series of three articles exploring how a director may incur personal liability in relation to their company. The first article gave an overview as to when personal liability may arise, the second article explored a director’s personal liability arising after a company enters into Liquidation or... Read more »
Personal Liability for directors arising from the company’s insolvency
This is the second in a series of three articles exploring how a director may incur personal liability in relation to their company. The first article gave an overview as to when personal liability may arise, this article explores liability arising after a company enters into Liquidation or Administration, and the final article explores liability... Read more »
Personal liability for directors
This is the first in a series of three articles exploring how a director may incur personal liability in relation to their company. The second article will look at a director’s potential personal liability when a company enters into Liquidation or Administration, and the final article explores liability for a director that may occur even... Read more »
Funding Options for Legal Services
Solicitors have an obligation to consider their clients’ funding options from the outset, particularly in litigation, and throughout the course of the matter. With a rapidly growing legal funding market, many bespoke funding options are now readily available. As a result, the obligation to inform clients about the various funding options has become even more... Read more »
What to do and what not to do if you are a director of a Company in Financial Trouble
The Government’s statistics for company insolvencies in the period July 2023 to September 2023 showed that in the second and third quarter they were at the highest level since the second quarter of 2009, and the uptick appears to continue. Directors of companies facing financial trouble need to be aware that if they are found... Read more »