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Director Who Helped Herself Faces Music

It is hardly surprising that directors of companies that face insolvency often wish to recoup their investments before the balloon goes up. However, as one High Court case concerning a failed furniture retailer showed, they are not entitled to give their...

Incomplete Partnership Arrangements Lead to Court Appearance

When new partners are being introduced into a partnership, it is wise to finalise the arrangements quickly in case the partners fall out. Any lack of formality in the business arrangements can lead to trouble, as a recent case shows . The case concerned...

Refusal to Cooperate Spells Trouble

Being made bankrupt is never a welcome experience, but failing to comply with reasonable requests of the Official Receiver can make matters even worse. Once a person is made bankrupt, they are required to deliver a statement of affairs within 21 days and to...

Serving Companies with Legal Documents - High Court Guidance

Although companies are independent entities in law, they can only act through natural persons and serving a company with a legal document can therefore be tricky. The point was illustrated by a High Court ruling that effective service of arbitration...

Pre-Trial Skirmishing Can Be as Important as the Main Event

In commercial litigation, many of the most important battles are fought before the trial even starts and those who drag their feet or fail to comply with judicial directions can find themselves hamstrung when it comes to the main event. Exactly that happened...

Failure to Point Out Business Decline Proves Costly

When a business is sold, a 'due diligence' process is normally entered into to make sure that the representations made by the seller to the buyer, on which the buyer's valuation of the business will be based, are true. Failure to be forthright in disclosures...

Act When You Think You May Have a Claim, Not When You Know For Certain

The time to seek legal advice when you think something may be wrong is when you first have a concern, not later on when you know there is a problem. One reason for this is that there are legal limitation periods for bringing claims, and in claims involving...

If You Help Fund a Claim You May Be Liable if it Fails

It is not unusual for the cost of litigation – especially where a group of companies is involved – to be paid for in whole or in part by a person or organisation that is not directly involved in the dispute. It should be remembered, however,...

Insolvency and Assignment of Causes of Action - High Court Ruling

On the basis that a bird in the hand is worth two in the bush, it is common for liquidators of insolvent companies to assign (transfer the rights to) any claims that they might wish to pursue on behalf of creditors to specialists in the field. One such...

Two Wrongs Don't Make a Right

When a contract is breached and one party suffers a loss as a result, they are normally entitled to be compensated for their loss by the party that has breached the contract. Whilst there are a number of ways the breach can be dealt with by the courts, the...
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