Category: For Businesses
Directors Personal Liability – A revisit
When a company enters into an insolvency procedure there is a ripple effect, suppliers can be owed money causing them cash flow issues, which in turn effects their ability to pay their suppliers and so on down the chain. Likewise those who have paid for goods or services may not receive them. The effect on... Read more »
Employment Rights Bill – What’s new?
The Employment Rights Bill was introduced on Thursday 10th October 2024 in what Ministers say will help to deliver economic security and growth to businesses, workers and communities across the UK. The comprehensive package introduced 28 new measures, including long-awaited reforms to parental and bereavement leave, sick pay, and unfair dismissal regulations. A summary of... Read more »
Starting the Commercial Lease Renewal Process
Negotiating a commercial lease renewal is a critical task for any business owner. The terms you agree to can significantly impact your business’s financial health, flexibility, and long-term success. Review Your Current Lease Begin the renewal process at least 6-12 months before your lease expires, it is highly likely that you need to serve notice... Read more »
Bounce Back Loans and Director Disqualification
The Insolvency Service is continuing to investigate suspected fraud in relation to the Bounce Back Loan Scheme (“BBLS”). Directors and former directors of companies which obtained loans they were not entitled to under the terms of the BBLS will continue to come under investigation by the Insolvency Service and face possible prosecution where fraud is... Read more »
Personal Guarantees – the last straw?
One of the biggest attractions for directors who are also the sole owners of a limited company is the notion that if things do not work out and the business fails their liability will be limited to their personal investment. However, as a company director you may be asked to provide a personal guarantee. A... Read more »
Commercial Lease Break Clauses
What is the Break Clause in a Commercial Lease? The break clause in a lease or contract provides a mechanism for one party to terminate or “break” the agreement before its specified end date. It’s essential to note that not all contracts or leases include break clauses, so a thorough review of the lease is... Read more »
Commercial Lease Renewals – Section 26 Landlord and Tenant Act 1954
The landlord-tenant relationship is governed by various laws, and one key piece of legislation in the UK is the Landlord and Tenant Act 1954 (LTA54). Within this Act lies Section 26, this addresses a tenant’s right to request a new tenancy. Service of a Section 26 Notice brings the old tenancy to an end but... Read more »
Commercial Lease Renewals – Section 25 Landlord and Tenant Act 1954
The landlord-tenant relationship is governed by various laws, and one key piece of legislation in the UK is the Landlord and Tenant Act 1954 (LTA54). Within this Act lies Section 25. What is Section 25? The Landlord and Tenant Act 1954 was enacted to provide security of tenure for commercial tenants, offering a structured framework... Read more »
Directors’ liabilities after resignation
This is the third, and final article, in a series of three articles exploring how a director may incur personal liability in relation to their company. The first article gave an overview as to when personal liability may arise, the second article explored a director’s personal liability arising after a company enters into Liquidation or... Read more »
Personal Liability for directors arising from the company’s insolvency
This is the second in a series of three articles exploring how a director may incur personal liability in relation to their company. The first article gave an overview as to when personal liability may arise, this article explores liability arising after a company enters into Liquidation or Administration, and the final article explores liability... Read more »