Insights: August 2009

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Fladgate advises Tritax Securities 1 Limited on the formation of a new property fund

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Fladgate LLP has advised Tritax Securities 1 Limited on the formation of the new IHG Property HQ Syndicate. The £25m syndicate has enabled individual investors and pension funds to collectively purchase an office building in Broadwater Park, Denham, Buckinghamshire which is the Global headquarters and Europe, Middle East and Africa office of InterContinental Hotels Group […]

Swine flu - is the worst yet to come?


Daily reports in the media suggest that swine flu is spreading. Health Secretary Andy Burnham has said that cases are doubling every week and that, if they continue to do so, there could be over 100,000 cases per day by the end of August. Whilst the majority of swine flu cases appear to be mild, […]

Fladgate acts for Libertas Partners LLP in management buy out


Fladgate has acted for Libertas Partners LLP (Libertas) on the acquisition of Libertas Capital Corporate Finance Limited from the administrators of Libertas Capital Group plc. Fladgate also provided advice to the backers; Charles Street Securities Europe LLP (CSS). Libertas is a new entity established by a management team from Libertas Capital Group, backed by CSS, […]

Swine flu - how to handle absences and protect the remaining workforce


Just as British businesses are adjusting to new working patterns brought about by cost-cutting exercises in the face of the economic downturn, they find themselves facing the growing threat of mass absence of staff as the nation struggles to cope with the swine flu outbreak. The Government is estimating that in the coming months up […]

Redevelopment and the right to lay services


It is never a good idea to take your neighbours for granted, particularly if you want to redevelop your property in the future. A developer intending to buy land must think hard about what rights (or “easements”) it needs, now and in the future, over any land retained by the seller. For example, a developer […]

Unauthorised debenture enforceable


A debenture which was given by a company pursuant to a resolution at a board meeting which was not properly convened should not bind a company. However, in Stewart Ford v Polymer Vision [2009] EWHC 945 (Ch) the relevant director who executed the document had ostensible authority to sign agreements on its behalf; in other […]

Restructuring bonus schemes - a risky business


Bankers’ bonus structures (typically calculated by reference to short term individual/peer group/team performance) have been criticised for encouraging “inappropriate” and “excessive” risk taking for short term personal profit without consideration for the longer term interests of a bank’s shareholders and stakeholders. One key recommendation made by the Turner Review (which considered the causes of the […]