Clarkslegal LLP - Solicitors in Reading and London

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Jan
14
2020

The Rewards and Risks of the ‘Subject to Contract’ Label
#Corporate #Commercial

Following the recent decision in Farrar v Rylatt [2019], it is clear that use of the phrase ‘subject to contract’ continues to create work for lawyers in commercial situations and relationships. ...

Jan
14
2020

Removing a Director under the Companies Act
#Commercial #Corporate

The Companies Act 2006 contains a right for members of the Company to seek the removal of a director from office by convening a general meeting of its members and passing an ordinary resolution. This provision is seen as sacrosanct in the Companies Act 2006 – any attempt to exclude this right in the Companies articles of association would be unenforceable. ...

Jan
14
2020

Share buybacks and payments
#Corporate #Commercial

The concept of share buybacks is a useful one. The ability for a company to buy back its own shares is seen as a useful tool for capital re-organisations and a tax efficient way in which to remove a shareholder or class of shareholders....

Jan
14
2020

Lending money to Directors
#Corporate

It is not unusual for a Company to lend money to a director of a Company, nor is it unlawful. However, there are a number of points to consider, including declarations of interest and how this sits with the constitution of the Company and a directors’ statutory duties generally and also the treatment of the loan from a tax perspective – not only for the director but the Company too....

Sep
30
2019

Clarkslegal Acknowledged once again by UK Legal 500 2019-2020
#Clarkslegal #Commercial #Construction #Corporate #Education #Employment #UK Immigration #Setting up in the UK #Real Estate #Complex Contracts

Clarkslegal is delighted to announce Legal 500 has recognised the law firm for the following practice areas; Corporate and Commercial, Commercial Litigation, Employment, Immigration, Education, Commercial Property, Construction and Commercial Contracts....

Aug
13
2019

The High Court has considered circumstances in which directors owe fiduciary duties to the company's shareholders
#Directors' Duties #Corporate

Earlier this year I discussed the importance of good corporate governance following the decision in Stobart Group v Tinkler. Paramount to good corporate governance is the adherence to the directors’ duties, whether contractual or fiduciary. Given the inherent lack of tangibility of any duties with a fiduciary persuasion, directors can often be found wanting when trying to quantify and qualify the positions where such duties might be owed to their shareholders. ...

Jul
10
2019

GDPR Enforcement Breaking News: ICO issues second intent to fine in two days
#Data Protection #Corporate #Commercial

Just one day after the ICO delivered a notice of intent to fine British Airways £183 million for alleged personal data breaches, it has delivered another, this time to global hotel group, the Marriott International....

Jul
10
2019

GDPR Enforcement: ICO intent to fine British Airways
#Data Protection #Commercial #Corporate

The Information Commissioner’s Office has issued a notice of intent to fine British Airways under the new Data Protection Act 2018 (DPA)....

Jul
08
2019

Taking and enforcement of charges over shares in English companies
#Corporate #Commercial

Charges over shares of companies incorporated under English law are not uncommon, often as part of a group banking facility, where subsidiary company shares are charged by the borrowing parent company in favour of the lender....

Jul
02
2019

Clarkslegal advises on Management Buy Out of Independent Trustee Services
#Corporate

Clarkslegal’s corporate team, led by Partner Ashan Arif, advised the management on the successful buyout of City based Independent Trustee Services Limited from leading employee benefits provider, JLT Benefit Solutions Limited (part of the MMC Group). I...

Jul
01
2019

Clarkslegal supports Turkish food importer to buy wholesaler
#Corporate #Real Estate #Employment

We are pleased to complete the acquisition of a wholesale and distribution business for a client which further bolsters existing turnover and operations in different geographical areas....

Jun
24
2019

Human Resources and Ethics
#Information Technology #Corporate #Employment #Data Protection

The recently announced huge gift of £150 million to Oxford University by Stephen Schwarzman to fund a new institute for ethics in artificial intelligence is a reminder of the huge importance attached by many to the need for more ethical focus on issues arising from artificial intelligence and technology innovation....

Jun
10
2019

EY’s 2019 UK Attractiveness Report
#Corporate #Setting up in the UK

According to EY’s 2019 UK Attractiveness Report the UK has retained its position as the number one destination for Foreign Direct Investment (“FDI”) projects in Europe while Northern Ireland has recorded a 74% year-on-year increase in FDI projects. Although the report may seem, on the surface, indicative of the UK’s robust ability to still attract investment despite the overwhelming uncertainty of Brexit, there are some key caveats to an optimistic outlook. ...

Jun
10
2019

Changing trade patterns good for environment but may be bad for jobs
#Supply Chain Governance #Environment #Outsourcing & Supply Chain #Employment #Education #Information Technology #Corporate

We now hear much of trade wars and tariffs. However, whatever President Trump and other world leaders do about their respective trade interests, there are also significant underlying trends that will before long cause major disruption to traditional trade and jobs. We should focus more on these trends and not just on the daily news round....

May
09
2019

Companies failing to bring workers to the board
#Employment #Corporate

A report released by the Local Authority Pension Fund Forum (LAPFF) has revealed that just 5% of companies would appoint an employee to their board of directors, despite a push by the Government to improve employee participation in board meetings. Under the Corporate Governance Code, companies are asked to strengthen the “employee voice” in boardrooms....

Apr
09
2019

Importance of good corporate governance is the take-home message of Stobart Group V Tinkler
#Directors' Duties #Corporate

Director’s duties are paramount to good corporate governance, as outlined by the go-to definition produced by the Cadbury Committee in 1992: "Corporate governance is the system by which companies are directed and controlled. Boards of directors are responsible for the governance of their companies. The responsibilities of the board include setting the company's strategic aims, providing the leadership to put them into effect, supervising the management of the business and reporting to shareholders on their stewardship.”...

Mar
12
2019

The many hues of legal jargon
#Commercial #Corporate

We’ve been asked on several occasions in recent times by GP surgeries to give advice about having “green socks clauses” put into their partnership agreements. Such a clause allows the partners to expel one of their number from the partnership without any reason (or even because their fashion sense is questionable), and can be useful where a partner simply does not fit, even though they are not strictly at fault in any way....

Feb
12
2019

Clarkslegal’s corporate team advises on 32 transactions in 2018
#Corporate #Commercial #Press

Clarkslegal’ s corporate team enjoyed a bumper 2018, closing 32 transactions including mergers, acquisitions, disposals, financings and restructurings....

Jan
03
2019

Powers of Attorney and Corporate Transactions
#Corporate #Commercial #Construction

The recent Judgment of the High Court in Katara Hospitality (a company incorporated in Qatar) v (1) Gerard Guez and (2) Jacqueline Rose [2018] EWHC 3063 (“Katara Hospitality”) highlights the importance of ensuring the proper and valid execution of an instrument and also serves as a timely reminder of the importance of ensuring that the scope of an instrument is expressly set out if it is to be successfully relied upon....

Dec
10
2018

The “Braganza” duty - If you have a “discretionary” right in a contract, is it always truly discretionary?
#Corporate

Most people would assume that, if a contract gives one party a right to do something “in its absolute discretion”, that is the end of the matter. ...

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