‘The conviction of a company and the jailing of two former company directors for offences under the UK Bribery Act should serve as a warning to businesses over a new tax evasion corporate offence, according to a tax law expert.’
OUT-LAW.com, 27th April 2018
Source: www.out-law.com
‘Major insurers in the UK must “consider a broad set of qualities and competencies” when recruiting board members, and have a policy in place to promote board diversity, under new rules that came into effect on 9 April.’
OUT-LAW.com, 16th April 2018
Source: www.out-law.com
‘Former BHS owner Dominic Chappell plans to sue Sir Philip Green and contest a proposed boardroom ban in a bid to repair his “tarnished reputation” and resurrect his career.’
Daily Telegraph, 9th April 2018
Source: www.telegraph.co.uk
‘Former BHS owner Dominic Chappell will be banned from serving as company director for up to 15 years over his role in the the high street chain’s collapse, while its previous owner Sir Philip Green will escape any sanction. The Insolvency Service said that the retail mogul Sir Philip, who sold BHS to thrice bankrupt Mr Chappell little over a year before its demise for £1, will not face further action.’
Daily Telegraph, 27th March 2018
Source: www.telegraph.co.uk
‘Company directors were said to be responsible for assets despite their use of corporate vehicles, the Supreme Court has ruled (12-page / 157KB PDF). The ruling means that a six year limitation period stopping liquidators taking legal action against the directors does not apply. This case will impact future misfeasance actions. Director and officer indemnity insurers should take note of this decision as it confirms that the English courts are unwilling to accept the six-year limitation defence for actions against directors following the disposal of company assets in breach of fiduciary duty for economic gain.’
OUT-LAW.com, 23rd March 2018
Source: www.out-law.com
‘Directors’ duties, procedural fairness and issue based costs; the Court of Appeal decision sheds light on several aspects of financial regulatory enforcement action.’
4 New Square, 15th January 2018
Source: www.4newsquare.com
‘A PPI company that made 75 million nuisance calls in just four months has been fined £350,000 by the Information Commissioner’s Office. The director of Miss-sold Products UK Ltd will not face any punishment despite the company he ran “blatantly ignoring the law” because of shortcomings in existing legislation, the ICO said on Wednesday.’
The Independent, 17th January 2018
Source: www.independent.co.uk
‘A revised UK Corporate Governance Code, intended by the Financial Reporting Council (FRC) to be “shorter and sharper” and to restore public trust in business, is due to come into force for accounting periods beginning 1 January 2019’
OUT-LAW.com, 18th December 2017
Source: www.out-law.com
‘“The corporate veil” is a much discussed, but much misunderstood phrase. When Lord Halsbury LC stated in Salomon v A Salomon and Co Ltd [1897] AC 22 that a limited liability company was to be viewed ‘like any other independent person with its rights and liabilities appropriate to itself’ he imbedded in law the idea of corporations having a separate legal identity from their directors. That principle is agreed. What has been in dispute, and is still uncertain to a degree, is when that separation can be made. ‘
Drystone Chambers, 4th December 2017
Source: drystone.com
‘Business Secretary Greg Clark has set out the government’s corporate governance reforms to enhance the public’s trust in business.’
Source: www.gov.uk/government/organisations/department-for-business-energy-and-industrial-strategy
‘Critics rounded on the Government today as it published the full detail of new laws aimed at cracking down on excessive boardroom pay.’
The Independent, 29th August 2017
Source: www.independent.co.uk
‘A golf company director has been jailed over the manslaughter of a man with learning difficulties who drowned as he dived for lost balls in a cold, murky course lake.’
The Guardian, 10th July 2017
Source: www.theguardian.com
‘Three company directors have been jailed today (May 19) following the death of a man who fell while working at a warehouse in Essex.’
Crown Prosecution Service, 19th May 2017
Source: www.cps.gov.uk
‘Shortly before the calling of a General Election the Business and Enterprise Select Committee of the House of Commons published a report on corporate governance. As the report’s reception and subsequent comment have made clear, whatever the outcome of the election the framework set by the report is likely to determine the direction of future corporate governance reform.’
Littleton Chambers, 9th May 2017
Source: www.littletonchambers.com
‘Dominic Chappell, the last owner of BHS, has pledged to fight legal action by the Pensions Regulator designed to force him to pay millions of pounds into the failed retailer’s pension scheme, saying the black hole in the scheme was not his fault.’
The Guardian, 1st March 2017
Source: www.guardian.co.uk
‘Company directors could face “disciplinary action” over breaches of financial reporting rules under new plans announced by the Financial Reporting Council (FRC).’
OUT-LAW.com, 17th February 2017
Source: www.out-law.com
‘Boardroom bosses face tougher punishments when they break financial reporting rules under proposals being submitted to the government by the body which polices corporate behaviour.’
The Guardian, 16th February 2017
Source: www.guardian.co.uk
‘It’s fair to say that the Supreme Court’s Brexit judgment has taken some attention from other legal developments of the day, but Holyoake v (1) Candy (2) CPC Group Limited [2017] EWHC 52 is another significant judgment on the scope of the subject access right under s.7 DPA.’
Panopticon, 25th January 2017
Source: www.panopticonblog.com
‘A party-loving admin assistant who was accused of conning pensioners out of more than £2million by selling fraudulent shares has been banned from directing a company but will not face criminal charges.’
Daily Telegraph, 16th January 2017
Source: www.telegraph.co.uk
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