Two directors have been disqualified after the Competition and Market Authority (CMA) found them guilty of participating in a secret cartel. The move follows the CMA’s statement of objections issued on 13 December 2018, alleging that 3 suppliers of pre-cast concrete drainage products – CPM Group Ltd (CPM), Stanton Bonna Ltd, and FP McCann Ltd
A director has been ordered to pay £20,000 for breaching his legal duties shortly before his company went into liquidation. The director had run a freight-forwarding company from 2011 until its voluntary liquidation in 2015. He had been the sole shareholder. His father had previously been a co-director of the company and continued to work
A sub-contractor has been held liable for all the compensation a contractor had to pay for damage caused by faulty work, including loss of rent. The High Court was told that the contractor, Ground Construction Ltd, had been employed by a landlord to build a property next to Regent’s Canal in London. The main contract
The High Court has ordered a homeowner to pay the full cost of repair work carried out on his property by a building company. The court heard that the homeowner, Sylvein Pinto, had asked ICCT Ltd to stop leaks in his basement. The work was not paid for so ICCT took the matter to arbitration
A husband and wife who tried to buy a business have lost their £40,000 deposit after the High Court ruled they could not claim a refund when the deal fell through. The couple wanted to buy a waste collection company. They were introduced to the sole shareholder and a tentative agreement was made that they
An estate agent has won his claim to be paid commission after finding a buyer for several flats, even though he didn’t have a written contract with the seller. The case, that went all the way to the Supreme Court, involved the agent and a developer who was trying to sell several newly built properties.
The buyers of three companies have been awarded damages for breach of warranty under the share purchase agreement (SPA). The case involved companies that manufactured complex metal components for aircraft. The buyers were Triumph Controls UK Ltd and Triumph Group Acquisition Corp; the sellers were Primus International Holdings, Primus International Inc and Primus International Cayman
Two companies had broken competition law by meeting with competitors and discussing price points, even though they did not agree to join their cartel. That was the finding of the Competition and Markets Authority (CMA) following an investigation. The case involved two connected companies who supplied water tanks for sprinkler systems, Balmoral Tanks Ltd and
A firm of brokers have won a commission claim against an investment company that started to bypass it by approaching its clients directly. The case involved Medsted Associates Ltd and Canaccord Genuity Wealth (International) Ltd (2019). Medsted had introduced several investors to Canaccord under a set of agreed terms. Medsted then alleged that Canaccord had
Three directors had damaged their family business by paying themselves too much and benefiting from company loans. That was the decision of the High Court in a case involving AMT Coffee Ltd. The company had been incorporated in 1993 as a retail coffee-selling business. Upon incorporation, four ordinary shares were issued, one each to three