‘Company directors need to remain wary of their duty to consider the interests of creditors in certain circumstances, despite a new UK Supreme Court ruling that they are likely to welcome, experts have said.’
OUT-LAW.com, 10th October 2022
Source: www.pinsentmasons.com
‘This appeal raised questions of considerable importance for company law. It provides the first opportunity for the Supreme Court to consider the existence, content and engagement of the so-called “creditor duty”: the alleged duty of company directors to consider, or to act in accordance with, the interests of the company’s creditors when the company becomes insolvent, or when it approaches, or is at real risk of, insolvency.’
UKSC Blog, 5th October 2022
Source: ukscblog.com
‘When a claimant sues a company, they often also bring a claim against senior management to ensure that there is a solvent defendant against which any judgment can be enforced.’
OUT-LAW.com, 12th September 2022
Source: www.pinsentmasons.com
‘The High Court has granted more time for a former law firm director to challenge a coruscating judgment against her more than eight years after it was handed down.’
Law Society's Gazette, 2nd September 2022
Source: www.lawgazette.co.uk
‘Astruck-off solicitor who dishonestly funnelled nearly £20m of investors’ money from a legal financing fund into his own pocket to fund a luxury lifestyle has been jailed for 14 years.’
Law Society's Gazette, 12th August 2022
Source: www.legalfutures.co.uk
‘A Lincoln student has been banned from running a company for 10 years after abusing a Covid recovery loan.’
BBC News, 8th August 2022
Source: www.bbc.co.uk
‘The English courts have adapted quickly to increasingly complex disputes involving crypto assets, a legal expert has said, following a recent ruling in a dispute over the ownership of an account worth roughly £30 million.’
OUT-LAW.com, 5th August 2022
Source: www.pinsentmasons.com
‘Despite the UK’s intention to be a global leader in cryptoassets, the courts are still wrestling with the basics: Rachel Coyle of 36 Commercial explains why it’s time to get to grips with the insolvency context.’
New Law Journal, 8th July 2022
Source: www.newlawjournal.co.uk
‘A law firm has been ordered to pay wasted costs of £7,920 for not satisfying itself that the director of a company in deadlock with the other director had the authority to give it instructions.’
Legal Futures, 5th July 2022
Source: www.legalfutures.co.uk
‘The UK’s financial regulator is investigating the co-founder of payments company Wise after he failed to pay his taxes.
The Guardian, 27th June 2022
Source: www.theguardian.com
‘A food waste recycling company has been fined £2 million and one of its co-owners jailed for 13 years after two workers died in a road haulage tanker containing pig feed.’
The Independent, 16th June 2022
Source: www.independent.co.uk
‘The Law Commission has today published its options for the Government for how it can improve the law to ensure that corporations are effectively held to account for committing serious crimes.’
Law Commission, 10th June 2022
Source: www.lawcom.gov.uk
‘Law Commission proposals to make directors more accountable for economic crimes at the companies they oversee have been condemned as a “thundering disappointment”.’
The Guardian, 10th June 2022
Source: www.theguardian.com
‘In this post, Amy Wilkinson, a senior associate in CMS’ financial crime team, comments on the decision of the UK Supreme Court in Crown Prosecution Service v Aquila Advisory Ltd [2021] UKSC 49. On 3 November 2021, the Supreme Court unanimously dismissed the appeal and ruled in favour of Aquila Advisory Ltd. The decision concerns attribution of directors’ criminal actions and who should have priority over assets derived from their criminal schemes.’
UKSC Blog, 4th May 2022
Source: ukscblog.com
‘UK businesses should be aware of a growing trend of climate change-based litigation according to one expert, after environmental law charity ClientEarth announced legal action against Shell.’
OUT-LAW.com, 18th March 2022
Source: www.pinsentmasons.com
‘The High Court upheld an application made by the liquidator of JD Group Ltd (“the company”) claiming that Deepak Bhatia, the company director, was engaged in fraudulent trading owing to knowledge that the company was associated with VAT fraud. Judge Agnello QC found that the manner in which the respective transactions were carried out provided clear evidence of this knowledge and that Bhatia’s conduct was dishonest in accordance with the objective standards of ordinary decent people.’
OUT-LAW.com, 3rd March 2022
Source: www.pinsentmasons.com
‘Former Post Office workers who were among those wrongfully convicted for theft, fraud and false accounting have called for the company’s former management to go to jail for their part in the long-running scandal.’
The Guardian, 15th February 2022
Source: www.theguardian.com
‘In Burnell v Trans-Tag Ltd & Anor [2021] EWHC 1457 (Ch) Mr Greenbank (sitting as a Deputy Judge of the High Court) was asked to determine whether, and if so to what extent, a director’s fiduciary duties survive the termination of the directorship. The essential part of the judgment on this point is at paragraph 391 to 410. The Defendants in this case were represented by Richard Leiper QC and Charlotte Davies, instructed by Clyde & Co LLP.’
Littleton Chambers, 24th June 2021
Source: littletonchambers.com
‘A haulage boss who ran a “lawless” business has been jailed for 15 years after two men died when their car was hit by an HGV with faulty brakes.’
BBC News, 29th June 2021
Source: www.bbc.co.uk
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