A businessman has failed in his attempt to overturn an injunction preventing him from competing with his former company and trying to poach its customers. The court heard that the businessman had been both a director and a shareholder of the company until 2013 when his employment was terminated. He sold back his shares and
A company had a multi-million pound contract terminated because it failed to foresee the extent of ground contamination on a development site and failed to carry out its own checks. The case involved a construction company that entered into a contract with the government of Gibraltar to construct a road and tunnel. The contract incorporated
Two directors have been disqualified after a court heard how they tried to “buy time” for their ailing company by producing misleading accounts and VAT figures. The directors were sole shareholders in a company importing and supplying plywood and sheet materials. At first their company was successful but it suffered a downturn in 2009 and
The co-owner of a restaurant has won her appeal to overturn an inaccurate valuation of the company’s shares by an independent expert. The issue arose because the restaurant had two co-owners who had equal shareholdings. A dispute arose and it was agreed that the best solution was for one shareholder to buy out the other
A number of estate and letting agents have been sent official letters warning them that they may be at risk of breaking competition law. The letters, from the Competition and Markets Authority, follow a recent case in which an association of estate and letting agents, and a newspaper were fined a total of £735,000 for
A contractor has won the right to challenge a £658,000 award made against it by an adjudicator more than six years ago. The court heard that the contractor had been engaged by a developer to carry out an asbestos survey on a block of maisonettes. The developer later claimed that the contractor had failed to
A woman who helped set up a business as a junior partner has succeeding in ousting the senior shareholder-director who ignored their agreement and misused company money. The two parties had agreed to open a beauty salon in a shopping centre. The shareholder-director would assist with setting up the business and arranging leases, and then
Former benefit claimants have set up 70,000 new businesses under the government’s New Enterprise Allowance scheme. The scheme provides seed funding and a mentor for jobseekers, lone parents and people on sickness benefits who come up with a solid business idea. If the business plan is approved, they are eligible for financial support payable through
A minority shareholder was not unfairly treated when his former colleagues decided to buy him out against his will. That was the ruling of the Court of Appeal in a case involving a private equity business. The court heard that the business had been subject to a management buy-out from its previous owner. It was
An estate agency that was cut out of a property deal after finding a prospective buyer has been awarded its £75,600 commission in full. The High Court heard that the agency was hired by a company wanting to sell a commercial property. The agency found a purchaser in Cyprus. The purchaser agreed to pay a