‘On 28 June 2024, ICC Judge Mullen, sitting in the Chancery Division, gave an ex tempore judgment, partially granting the Financial Times’ application for pre-hearing access to an affidavit which the Secretary of State had lodged in support of its directors disqualification claim against the financier Lex Greensill.’
5RB, 10th October 2024
Source: www.5rb.com
‘A businessman has been banned from being a company director after making bogus claims for £145,000 in Covid-19 support grants.’
BBC News, 3rd September 2024
Source: www.bbc.co.uk
‘In a lengthy judgment the Court has ordered that former directors of BHS are to pay sums arising in both wrongful trading and in “trading” misfeasance.’
Mills & Reeve, 13th August 2024
Source: www.mills-reeve.com
‘Last month, King Charles III opened the first session of the new parliament by outlining the Labour government’s priorities. Among these was the much-anticipated draft Audit Reform and Corporate Governance Bill. It has been six years since Sir John Kingman delivered his independent review of the Financial Reporting Council (FRC), and the call for robust audit reform has remained strong.’
Kingsley Napley Corporate and Commercial Law Blog, 5th August 2024
Source: www.kingsleynapley.co.uk
‘Mr Chohan and Mr Ved knew each other from childhood. From 2008 Mr Ved ran his accountancy business, Sterling Associates, from part of the premises comprising 5TC pursuant to a series of licence agreements with the then tenant of 5TC, Eutopia Ltd (“Eutopia”).’
Gatehouse Chambers, 28th May 2024
Source: gatehouselaw.co.uk
‘Two former directors of the collapsed department store chain BHS have been ordered to pay at least £18m after the pair were found liable for wrongful trading and breaching their corporate duties.’
The Guardian, 11th June 2024
Source: www.theguardian.com
‘Directors of companies that infringe trade marks can only be held personally liable as an accessory to that infringement in the UK if they know that what their company was doing amounted to trade mark infringement, the UK’s highest court has confirmed.’
OUT-LAW.com, 15th May 2024
Source: www.pinsentmasons.com
‘ClientTEarth v Shell [2023] EWHC 1897 (Ch) is the first attempt to use the statutory shareholder derivative action (Part 11 Chapter 1 of the Companies Act 2006 (CA 2006)) to hold directors liable for breach of directors’ duties for issues related to climate change. A derivative action can be used by shareholders in limited circumstances to bring an action of recourse on behalf of the company. Derivative actions are typically used to protect minority shareholders. Therefore, its use in ClientEarth v Shell is of interest, especially considering the ongoing discussion on the role and purpose of business in society. Although company law has primarily focused on profits, the more modern view is that companies should exist for profit, public interests and societal goals (See British Academy, Reforming Business for the 21 st Century: A Framework for the Future of the Corporation). The ClientEarth case confirms and clarifies situations in which a claimant may obtain permission to continue a claim; and when an absolute liability may be imposed on directors for a climate change-related breach of director’s duty in shareholder derivative claims. It raises questions around the prospects of success for future claimants due to the difficulty in establishing sufficient legal merit; and the relationship between stage one and stage two of the statutory regime.’
Cambridge Law Journal, 3rd April 2024
Source: www.cambridge.org
‘ClientEarth v Shell [2023] EWHC 1897 (Ch) is the first attempt to use the statutory shareholder derivative action (Part 11 Chapter 1 of the Companies Act 2006 (CA 2006)) to hold directors liable for breach of directors’ duties for issues related to climate change. A derivative action can be used by shareholders in limited circumstances to bring an action of recourse on behalf of the company. Derivative actions are typically used to protect minority shareholders. Therefore, its use in ClientEarth v Shell is of interest, especially considering the ongoing discussion on the role and purpose of business in society. Although company law has primarily focused on profits, the more modern view is that companies should exist for profit, public interests and societal goals (See British Academy, Reforming Business for the 21 st Century: A Framework for the Future of the Corporation). The ClientEarth case confirms and clarifies situations in which a claimant may obtain permission to continue a claim; and when an absolute liability may be imposed on directors for a climate change-related breach of director’s duty in shareholder derivative claims. It raises questions around the prospects of success for future claimants due to the difficulty in establishing sufficient legal merit; and the relationship between stage one and stage two of the statutory regime.’
The Cambridge Law Journal, 3rd April 2024
Source: www.cambridge.org
‘A company has been fined £450,000 and the firm’s director has received a suspended prison sentence after a labourer was crushed to death at a construction site.’
Crown Prosecution Service, 15th February 2024
Source: www.cps.gov.uk
‘Ministers are to ban bonuses for water company bosses in England and Wales who fail to prevent illegal sewage spills that pollute rivers, lakes and seas.’
The Guardian, 11th February 2024
Source: www.theguardian.com
‘This Briefing looks at plans to legislate for an independent regulator for English football.’
House of Commons Library , 6th February 2024
Source: commonslibrary.parliament.uk
‘A pizzeria owner from Cumbria who hired two illegal workers has been banned from being a company director for six years.’
BBC News, 30th January 2024
Source: www.bbc.co.uk
‘A solicitor who acted for three wrongly convicted sub-postmasters has questioned whether lawyers advising the Post Office’s board were more motivated by continuing the retainers than giving proper guidance.’
Legal Futures, 8th January 2024
Source: www.legalfutures.co.uk
‘The UK’s Economic Crime and Corporate Transparency Act 2023 (the Act) has reformed the law of corporate criminal attribution for a wide range of economic crimes and introduced a new offence of corporate failure to prevent economic crimes.’
OUT-LAW.com, 8th December 2023
Source: www.pinsentmasons.com
‘The High Court has struck out a £6m negligence claim brought by a former Premier League footballer against City firm Charles Russell Speechleys (CRS).’
Legal Futures, 4th December 2023
Source: www.legalfutures.co.uk
‘The fraud trial of former employees of the collapsed bakery chain Patisserie Valerie will not take place for another two and a half years, a court has heard.’
The Guardian, 7th November 2023
Source: www.theguardian.com
‘A disabled director of leading legal aid firm Duncan Lewis was unfairly dismissed over absences from work and his failure to report them, an employment tribunal has ruled.’
Legal Futures, 31st October 2023
Source: www.legalfutures.co.uk
‘The Economic Crime and Corporate Transparency Act received Royal Assent on Thursday 26 October.’
Home Office, 26th October 2023
Source: www.gov.uk
© Inner Temple Library 2024