Law and regulation

Insight / Legal updates: December 2020

In this month’s round up, Gateley Legal’s Sophie Brookes examines whether Covid-19 had a ‘material adverse effect’ in Travelport, complexities over ‘no reflective loss’ principle, and updated Companies House guidance on People with Significant Control (PSC) regime

Insight / Key issues of LLP conversion

Converting to a limited liability partnership can be attractive to professional services firms, but partners need to carefully consider objectives, preparation and the transfer of business, say CM Murray’s Zulon Begum and Pooja Dasgupta

Insight / MoJ review of corporate criminal liability

The Ministry of Justice (MoJ) has announced a Law Commission review of the corporate criminal liability laws, with potential reforms including new offences holding companies to account for criminal wrongdoing undertaken by them, or on their behalf

Insight / Legal updates: November 2020

In this month’s round up of legal news, Gateley Legal’s Sophie Brookes considers differences in the meaning of ‘goodwill’, new guidance on directors’ duties and best practice for AGMs during the pandemic

Accounting / Ban for ‘misleading’ accounting institute

ICAEW, ICAS and Chartered Accountants Ireland have obtained a High Court injunction to ban a European organisation and its directors from offering chartered accountancy qualifications, as it is not a recognised professional body

Insight / Goldman Sachs fined record $2.9bn over business bribery

Goldman Sachs is to make a record payment of more than $2.9bn (£2.2bn) to regulatory authorities in the US, UK, and Singapore after the group and its Malaysian subsidiary admitted conspiring to pay over $1bn in bribes to obtain business

Insight / Crisis fuels boardroom battles and executive departures

A bleak combination of the pandemic, Brexit and economic uncertainty is likely to lead to more workplace disputes, fights in the boardroom and attempts to impose less favourable contracts, but justice could be slow, warns Stewarts’ Charlie Thompson

Insight / Legal updates: October 2020

In this month’s round up of legal news, Gateley Legal’s Sophie Brookes considers share purchase agreements, scheme of arrangements and Virgin Atlantic’s restructuring under CIG2020

Insight / How to avoid post-crisis legal fights

With disruption comes litigation, including contractual, financial and fraud-related action. Elaina Bailes of law firm Stewarts pinpoints likely areas of contention and how businesses can avoid costly legal disputes

Insight / Grant Thornton to settle with AssetCo for £28m

Grant Thornton has signalled it does not intend to mount a further legal challenge against a record claim for damages brought by former client AssetCo, and will settle the claim, paying some £28m to the AIM-listed outsourcer

Insight / Questions remain over interruption insurance ruling

Despite the apparent clarity of the FCA’s Covid-19 business interruption insurance test case, there is still much that businesses need to do before pursuing a claim, says Menzies’ Paul Smethurst

Insight / Retired judge to chair Post Office accounting inquiry

The government has announced a retired High Court judge is to chair its inquiry into the Post Office Horizon IT dispute, which saw dozens of postmasters falsely accused of accounting fraud

Insight / Insolvency law risk for suppliers tied into failed business

With the 30 September deadline for SMEs to terminate contracts if they supply an insolvent client fast approaching, Ian Timlin at Conexus warns suppliers to check contracts closely to avoid costly commitments under the Corporate Insolvency and Governance Act 2020

Insight / Covid-19: FCA wins landmark business interruption insurance case

Hundreds of thousands of small businesses denied claims under business interruption (BI) insurance policies for losses arising from the pandemic are set to receive pay-outs, after the Financial Conduct Authority (FCA) won a test case against insurers in the High Court

Insight / Legal updates: September 2020

In this month’s round up of legal news, Gateley Legal’s Sophie Brookes considers the importance of worked examples in commercial contracts, tax impact of ‘gross-up’ clauses and members’ duties to an LLP