Law and regulation

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

Insight / Q&A: using rental losses against pension income

In our regular Q&A series from Croner Taxwise, tax adviser, Marsha Haywood explores where an individual may make a claim to set a rental business loss against their general income (pension income)

Insight / Legal updates: August 2020

In this month’s legal updates, Sophie Brookes of Gately Legal considers whether a company’s accountants owed a duty of care to a shareholder, company restoration and CIGA 2020

Insight / Restaurateurs served with bans over tax failures

Two restaurateurs have been disqualified from managing companies after they caused their outlets to abuse the tax regime, owing more than £1m in tax between them

Insight / Asset freezing Magnitsky law bold step in human rights abuse fight

As the UK moves into a new era of sanctions and asset freezes, Stephen Baker, senior partner at Baker & Partners, says success depends on international cooperation to trace assets

Insight / Ban for boss owing £289K in tax

A recruitment company boss has been banned for six years after paying himself a £150,000 bonus just before the company went into liquidation owing £289,000 in tax

Insight / G4S to pay £38.5m to settle MoJ fraud charges

FTSE 100 security outsourcing company G4S is to pay £38.5m to settle charges of fraud in a prisoner tagging contract with the Ministry of Justice (MoJ), in a deal with the Serious Fraud Office (SFO)

Insight / Third-party failures can cost companies £783m per incident

Half of companies believe the cost of a third-party incident has at least doubled in the past five years, according to Deloitte survey, with Covid-19 predicted to further increase need for investment in risk management

Insight / Legal updates: July 2020

In this month’s round up of legal cases, Sophie Brookes of Gately Legal considers directors’ duties, death of sole director-shareholder and a breach of s21 FSMA 2000