Court appeal strips fraudulent director of all his secret profits

Judges refused director the arguments of a Director who dishonestly profited at the expense of companies that he was duty-bound to serve. In a Court of Appeal case on point, one such miscreant was stripped not only of his underhand profit but also of half the value of his shares in the company he cheated.…

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• The Construction Act has changed. The changes came into force on 1 October 2011 and apply to all construction contracts entered into on or after that date. Those who operate in the construction sector will be affected by the changes. • The key change is that contractors (and sub-contractors) who are employed under verbal…

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Getting Started • Do your research and approach only reputable business transfer agents • You may be asked to sign a Confidentiality Agreement. We recommend that you take legal advice before doing so • You will need to view the target business and this is a great opportunity to gain as much background information and…

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We have produced in this Brief a Business Sale Checklist providing prospective sellers and purchasers a checklist of documents that will be needed to make the whole process that bit much smoother and less time-consuming. Whilst it would not be possible to produce an exhaustive checklist of each individual transaction, it is hoped that being…

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In our experience many directors can often be haplessly unaware of the obligations they owe to their companies and although the new Companies Act 2006 goes some way in providing a comprehensive list of the duties of a director, it is still incomplete. We have compiled the below a guide of the main duties any…

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The credit crunch is the buzz word on everybody’s lips and rightly so. There is no denying that these are difficult economic times. Harder than most of us care to remember. However this is not the time to loose heart. Businesses need to take stock by realistically reviewing business plans, cash flow forecast, financial statements,…

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UK companies can receive up to £3,000 funding towards a full ‘IP Audit’ as part of Vince Cable’s Growth Accelerator initiative. Audits provide advice and support towards gaining and maximising the value of IP and help the business develop an IP strategy to take the projects to market.  Typically the work involves, a visit or…

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It is important not to under-estimate the vital nature of a properly conducted legal due diligence process to the successful acquisition of a business trading as a going concern.  Therefore this article is intended to give Buyers practical information on some of the legal investigations, typically referred to as due diligence, they should consider carrying…

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The business world is full of agreements between businesses and individuals. Whilst oral agreements can be used, most businesses will use formal written contracts when engaging in business operations. Written contracts provide surety in the form of a legal document stating the expectations of both parties and how negative situations will be resolved. When used…

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Getting Started Do your research and approach only reputable business transfer agents You may be asked to sign a Confidentiality Agreement.  We recommend that you take legal advice before doing so You will need to view the target business and this is a great opportunity to gain as much background information and understanding about the…

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