March 2010
Empty property relief rates 2010/2011
For the year 2010/11, empty commercial properties with rateable values of up to £18,000 will be exempt from business rates.
MoreDashfield v Davidson, do your company’s articles reflect your intentions?
2nd June 2008
The recent case of Dashfield v Davidson (Ch.) 2008 highlights the importance of ensuring that a company’s articles of association reflect the intentions of the shareholders, particularly on the untimely death of a shareholder.
In this case a shareholder died unexpectedly having previously agreed to sell 100% of the share capital in a company, in circumstances where the company then purchased the deceased's shares under an article in its articles of association at less than market value. The company’s articles provided for the mandatory sale of his shares to the company at a value determined by the company’s auditors in accordance with a formula “per the last set of audited accounts”.
The audited accounts were available for 2002 and draft accounts were available for 2003 but these had not been signed off at the time of the death. The valuation was based on the 2002 accounts and gave a much lower figure that would have been the case under the 2003 accounts. The court held that the 2002 accounts were the ones upon which the valuation had to take place.
Clearly the estate of the deceased shareholder lost out as a result of the strict interpretation of the company’s articles.
If you are a shareholder in a private company and are in any doubt as to how your shares would be dealt with by the company on your death, please contact Roger Hinchliffe who is a specialist in this area of law.
February 2010
A third of SME bosses are unaware of their employment law obligations, says BIS.
A Department for Business, Innovation and Skills (BIS) study uncovers employers’ poor knowledge and management of responsibilities.
MoreFebruary 2010
New Guidance on Fit Notes published today
Guidance on plans to replace sick notes with fit notes is now available to employers from the Department for Work and Pensions.
MoreFebruary 2010
CIPD predicts public sector recession
The UK economy is facing more redundancies, with substantial cuts expected in the public sector, report says.
MoreFebruary 2010
Pre-Budget Report checklist
This checklist highlights some of the key issues from the Pre-Budget Report that are likely to have an impact on small businesses.
MoreFebruary 2010
Oldham Construction Sector
On 3 February 2010 Corporate Commercial partner Roger Hinchliffe delivered a presentation entitled, ‘Joint Ventures’ to the Oldham Construction Sector group.
January 2010
Debt Recovery Service
With our specialist commercial Debt Recovery service you can significantly increase the speed and likelihood of recovering the money owed to your business.
January 2010
PH Employment Direct
The Employment team at Pearson Hinchliffe Commercial Law have created PH Employment Direct - a user-friendly and simple service that gives you access to the best advice at the end of a phone 24hrs a day, 7 days a week, 365 days a year.
October 2009
M&A Opportunities
A live selection of current assignments offered by Pearson Hinchliffe Commercial Law or those of our professional partner organisation,
August 2008
Franbar Holdings Limited –v- Patel and Others
Concerning the Derivative Actions introduced by the Companies Act 2006.
July 2008
Systime Inc.
Pearson Hinchliffe Commercial Law's specialist Company & Commercial team has advised multi-national Systime Inc. on an important contractual document implemented Europe-wide.
June 2008
Dashfield v Davidson, do your company’s articles reflect your intentions?
When a shareholder died unexpectedly, under the articles the company then purchased the shares based on accounts for the last completed financial year prior to the death - 2 years prior.