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A company must repay £200,000 after failing to carry out work to a high enough standard on a property it was selling. The company had entered into a contract with a buyer which required that a number of renovation and conversion works should be carried out before completion. The buyer paid a £100,000 deposit followed
Struggling businesses could be ‘pushed over the edge’ Those are the findings of a survey of 500 companies carried out by the insolvency trade body R3. R3’s Business Distress Index, which covers the last quarter of last year, found that the number of businesses reporting decreased profits rose to 54% – an increase of 5%
A new regulation requiring businesses to get permission from consumers before placing cookies on their computers has now come into force. The EU Privacy and Electronic Communications Directive applies to cookies or any piece of code that enables you to store information about consumers such as their shopping habits. It came into effect on 26th
Employment claims look set to continue rising, according to an official report by the Tribunal Service. This is in spite of the fact that claims are already at record levels. Judge David Latham, who is president of the employment section of the Tribunal Service, says there have been several new employment laws over the last
The Competition Appeal Tribunal has ruled that penalties imposed on construction firms for using cover pricing were too harsh and should be reduced. The Tribunal said it was important to make a distinction between simple cover pricing and bid rigging, which is much more serious. Bid rigging involved firms joining forces as a cartel in
A property management company effectively validated a break clause notice by accepting it as an email – even though the lease required more formal notification. The case involved a tenant who leased commercial premises for a term of ten years starting on 1st March 2005. The break clause allowed for termination of the lease after
The number of companies going out of business in England and Wales fell dramatically last year, according to figures from the Insolvency Service A total of 4,905 businesses went into receivership or administration, or entered into company voluntary arrangements in 2010. That was a fall of 23% on 2009, which was the record year for
Great care is needed when drawing up restrictive covenants; if they are not tight enough they may not be effective, but if they are too restrictive the courts may not enforce them. A recent case gives a good insight into how the courts may view certain anti-competition clauses. It involved an estate agency and one
Landlords who rent out a holiday home on a regular basis will soon need an Energy Performance Certificate or risk facing a fine. Until now, the certificates have not been necessary for short holiday lets where there is no intention to create a tenancy. That will change on 30th June when certificates will be needed
The moratorium on new employment laws for small firms has now come into effect but business groups say that EU regulations will remain a major burden. The moratorium was announced in the Budget and covers start-up businesses and small firms with fewer than 10 employees. HMRC is defining a start-up firm as a business that