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Colemans

Deadlock Forces Sale When Family Inherits Business

September 3, 2014

When a family business is handed down and ownership is split between two or more members of the next generation, the result can all too often be discord. Normally, this can be resolved by one party buying out the other, but when this does not occur, the result can be a disaster, as a recent…

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Colemans

Director Counts Cost of Preferential Payments

September 3, 2014

Company directors should know that as well as their duties to shareholders, they also have a duty under both common and statute law to protect the interests of creditors. When this duty is not adhered to, the consequences can be severe, as a recent case illustrates. The director concerned was a director of a group…

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Colemans

Ex-Couple’s Trade Mark War Ends in Stalemate

September 3, 2014

Mixing business and personal relationships can produce additional complications if a break-up occurs, as evidenced by the stalemate reached by a warring former couple who are at loggerheads over the future of their deadlocked business and its intellectual property (IP) rights. The ex-couple were partners in business and in life for 26 years and ran…

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Colemans

Non-Disclosure in Business Sale Leads to High Court

September 3, 2014

In a case which underlines the need for both full and accurate disclosure of potential liabilities when selling a business, a lawyer who failed to reveal the existence of a potentially substantial negligence claim against his firm before disposing of it will receive a lesser sum for its sale, following a High Court ruling. The…

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Colemans

Potential Insolvency Brings Stay of Payment

September 3, 2014

Normally, when a building dispute arises that leads to an adjudicator making an award in favour of one party, the award is simply paid to the other party and that is that. However, sometimes things are more complicated. Recently, a company went to the High Court arguing that it should not have to pay an…

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Colemans

Principle, Not Technicalities, Crucial in Landlord’s Notice

September 3, 2014

Professional landlords are well aware of the complexities they can face when giving notice to tenants that they require possession of the let premises. Because of the rather tortuous provisions of the Housing Act 1988 with regard to the giving of notice, numerous court rulings have been made that a landlord’s notice to a tenant…

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Colemans

Refusal to Pay Arbitrator Did Not Repudiate Contract

September 3, 2014

Not every breach of contract will be treated as ‘repudiatory’ – the legal term for a breach in which one side has refused to perform its side of the contract. Recently, the High Court ruled that one party’s refusal to pay an arbitrator’s fees in advance did not ‘go to the root’ of the parties’…

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Colemans

Relief as Landlords Can Again Look to Administrators for Rent

September 3, 2014

When a company enters administration, the expenses it has incurred prior to the administration have a different status from the expenses incurred by the administrators. These latter expenses are in effect preferential to the former. This is important for landlords because it is now common for companies with leased premises to have large liabilities for…

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