Insights: December 2009

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VAT: 15% or 17.5%?


The 15% VAT rate comes to an end on 31 December. With effect from 1 January, the rate will revert to 17.5%. You might be wondering what happens to rent due on the December quarter day (25 December). Is it apportioned, so that the rent from 25 December to 31 December attracts VAT at 15%, […]

Quarter Day - December 2009


Legal updates for those involved in the real estate sector.

Freezing injunction for SEC


The principle that the English court will not enforce penal, revenue or other public laws of a foreign state was also tested in the United States Securities and Exchange Commission v Manterfield [2009] EWCA Civ 27. In that case, the SEC had obtained interim injunctions in the US courts and applied to the English court […]

Fladgate advises PLUS listed ESV Group on sale of jatropha plantations


Fladgate LLP has acted for ESV Group Plc, the agribusiness and logistics investment company, on the sale of its jatropha plantations business and associated assets in Mozambique, to SAB Mozambique SA, a company controlled by two Italian energy companies, Api Nova Energia and Seci Energia SpA. The US$4m sale price will be re-invested in the […]

Philosophical belief rises up the employment law agenda following two recent rulings


For a long time tribunal claims under the philosophical belief limb of the Employment Equality (Religion or Belief) Regulations 2003 had been few and far between. Now in rapid order, two recent high-profile cases involving belief, first, in climate change and then in spiritualism have highlighted yet another issue that employers will need to be […]

AIM listed Toumaz Holdings in placing of new ordinary shares


Fladgate LLP is acting for AIM listed client Toumaz Holdings Limited, which has developed a portfolio of unique and world-leading silicon chip technologies, on the raising of £9m by way of a firm placing of new ordinary shares by FinnCap with new and existing shareholders. The net proceeds from the Placing will be used for […]

Aéroports de Paris acquires Masternaut UK Limited

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Fladgate LLP has advised Masternaut UK Ltd (known as Masternaut Three X) and its shareholders on its acquisition by Masternaut International, a subsidiary of Hub Télécom owned by Europe’s second largest airport operator, Aéroports de Paris. The deal creates Europe’s largest fully integrated telematics, mobile resource and fleet management solutions organisation. Masternaut Three X specialises […]

No trumps! The effect of adjudicators' decisions and arbitrators' awards on each other


Certain questions about the effect of adjudication decisions come up in the courts time and again. One is whether or not a party can demand payment of a sum if the logical consequence of an adjudicator’s decision is that they are entitled to it, but payment is not explicitly ordered. Another is whether competing decisions […]

AIM listed Hameldon Resources in disposal of Upstream Asia Limited and Camber Communications


Fladgate LLP has acted for AIM listed client Hameldon Resources Limited (formerly Upstream Marketing and Communications Inc) on its disposal of Upstream Asia Limited and Camber Communications Limited, Hameldon’s wholly-owned BVI subsidiaries, to Asset Pioneer Limited. In accordance with Hameldon’s investment strategy the company will use the sales proceeds to acquire interests in natural resources, […]