Recent case law has shown that the devil is in the detail when notifying a party to a share purchase agreement of a potential claim under that agreement. It’s long been a principle of English law that a potential defendant in litigation has the right to some certainty, without the spectre of litigation looming indefinitely in respect of historic events or disputes.
The EU Fifth Anti-Money Laundering Directive (5AMLD) was enacted into UK law with effect from 10 January 2020. It requires art businesses to put in place systems intended to prevent their potential use in money laundering or for various other offences (in addition to those systems already required under the Proceeds of Crime Act 2002).
A recent BVI case has shown that the Duomatic principle, which allows shareholders to informally approve a company’s actions provided they act unanimously, can apply even where actual authority has not been granted and where the ensuing action by the company is against the best interests of the shareholders.
The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 were laid before Parliament on 15 September 2020. Among other things, this statutory instrument (SI) implements the new Trust Registration Service (TRS) rules, as extended by the EU's Fifth Money Laundering Directive, which came into force on 10 January 2020. It is expected that the SI will be implemented as drafted.
We understand that dealing with separation and divorce can be highly sensitive and emotion-charged at the best of times. The COVID-19 pandemic may have added to your concerns, with additional complications to your personal circumstances or you may have additional questions on how best to start the divorce and separation process. The Forsters Family team are on hand to guide you through the best options available to you in the current circumstances and can do so in the way that is comfortable for you.
On Tuesday 22 September 2020 Commercial Real Estate Senior Associate, Anthony Goodmaker attended the virtual Student Housing Conference 2020, together with Partner, Ronan Ledwidge. The overall message from the many speakers was one of positivity and optimism – Anthony highlights his 5 takeaways from the event.
The Government has announced that the current legislation which prevent landlords from forfeiting commercial leases, or levying execution on the tenant's goods by way of CRAR to recover outstanding rent, will be extended from 30 September 2020 until 31 December 2020 to provide further protection for tenants who have not paid their rents or other sums due under their leases.
Many businesses are currently looking at their profitable (and not-so-profitable) parts and wondering which could be bundled up and sold. A precursor to any such sale may well be a preliminary intra-group reorganisation. Understanding the tax (and corporate law) aspects prior to making any decisions about a reorganisation is key.
The Government has announced that it will introduce a temporary change in the law to allow wills to be witnessed using video technology during the coronavirus pandemic. It is set to come into force in September, but will apply retrospectively to wills executed from 31 January 2020. This article outlines the relevant law and the planned changes, along with some high-level guidance for those who may have to rely on the new rules in the absence of being able to execute a will in the normal way.
On 17 July 2020, the Office of the Public Guardian (the "OPG") launched its online service "Use a lasting power of attorney". This service enables attorneys to prove their status to service providers, such as banks or health care providers, by providing them with online access to a summary of the relevant lasting power of attorney (LPA).
