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The importance of keeping accurate written records of directors’ dealings and activities was highlighted in a recent case before the Court of Appeal. It involved five directors of a property company that had gone into liquidation. The liquidator began proceedings to make the directors repay money owing on loan accounts and to pay compensation for
The need for employers to have the correct legal and training procedures in place was shown in a recent case in which a child was injured as she walked under a street light. The accident happened as the light was being repaired. The workman detached the reflector to inspect it but it fell just as
The Licensing Act is the latest set of regulations to come under the scrutiny of the Government’s “red tape challenge”. The Department of Culture, Media and Sport has begun a public consultation seeking views on whether Section One of the Act should be reformed. This is the section that covers regulated entertainment. It has often
The new National Minimum Wage rates have now come into effect. The rate for adult workers has risen by 15p to £6.08 an hour. The rate for 18-20 year olds goes up by 6p to £4.98 an hour. The rate for 16-17 year olds has increased by 4p to £3.68 an hour. The rate for
The Court of Appeal has upheld a ruling that a director breached his fiduciary duty when he made personal use of some equipment that had been loaned to his company. Fiduciary commitments simply mean that a director must act in the company’s best interest and avoid any conflict between his personal interests and his duty
When a business is transferred from one owner to another, the rights of employees are protected by the Transfer of Undertakings (Protection of Employment) Regulations (TUPE). This means the employees of the previous owner become employees of the new owner on the same terms and conditions. But what happens when the services provided by the
When buying a business it’s important to ensure that the seller doesn’t try to entice away clients or customers once the sale goes through. For this reason, most firms will insist on a covenant preventing the seller from setting up a rival business or soliciting his former customers for a specified period. The value of
Relationships between shareholders in small companies are often tense, but what happens if they refuse allow meetings to take place that could determine the future of the business? The issue arose in a case involving a taxi firm that had two shareholders who were also both directors. The minority shareholder played no active part in
The Office of Fair Trading (OFT) has warned that consumer landlords are still being presented with potentially unfair terms in contracts with some letting agents. The warning follows the enforcement case last year against Foxtons for breaching the Unfair Terms in Consumer Contracts Regulations 1999 (UTCCR). Foxtons agreed to amend some of its terms concerning
The overall number of employment cases being brought to tribunals has fallen by 8%, but the number of age related claims has continued to rise. The latest figures from the Tribunals Service cover the period from 1st April 2010 to 31st March 2011. There were a total of 218,100 claims during that period, a fall