Insights: December 2011

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Quarter Day - December 2011

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Legal updates for those involved in the real estate sector.


AIM listed Sirius Petroleum enters into agreement for investment in Ororo oil field

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Fladgate LLP has advised AIM listed Sirius Petroleum plc on a Financial and Technical Services Agreement with Owena Oil and Gas Limited and Guarantee Petroleum Company Limited in relation to a proposed investment in the Ororo marginal oil field which is located in Oil Mining Lease 95 in Nigeria. Commenting on the agreement, Ed Johnson, […]


Who pays when the roof blows off?

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Who pays the home owners when the wind blows the roof off and the developer goes into liquidation? The obvious answer is the insurers, assuming there is insurance cover, but when this rather dramatic event happened to some three-storey townhouses in Docklands, it raised important legal issues. Due to very strong winds, the roof of […]


Construction newsletter - December 2011

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Legal updates for those involved in the construction sector.  


Fladgate acts for nominated advisor and broker, Seymour Pierce, on a placing by Fusion IP Plc

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Fladgate LLP acted for Seymour Pierce Limited as nominated advisor and broker to Fusion IP Plc (Fusion) on the placing of 17,885,000 ordinary shares at 28 pence each raising £5m. The shares were placed with a number of existing and new institutional investors. Fusion is a university IP commercialisation company that turns world class research […]


"Radical" Employment Law Reforms for 2012 and beyond

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On 23 November 2011, Business Secretary Vince Cable gave a speech announcing an extensive programme of employment law reviews and reforms to be carried out by the coalition government as part of its cutting business red tape agenda. Below we consider the committed reforms further and look forward to those where consultation and discussion remain […]


Marco Pierre White's restaurant opens at The Cube, Birmingham

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Celebrity Chef Marco Pierre White has opened his Steakhouse Bar & Grill atop Birmingham’s iconic Cube development. Fladgate LLP’s hotel team advised on the acquisition of the hotel (including the Hotel Indigo franchise), restaurant and spa premises at The Cube and on the agreement with Marco Pierre White to open the eponymous venue. The 300-seater […]


Creation of a sub-fund may be administration, not variation of beneficial interests

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Where, in the administration of a trust, the trustees desire to carry out a transaction that they consider to be “expedient”, but find that they do not have the necessary power, either under the terms of the trust instrument or the general law, they may apply to the court under section 57 Trustee Act 1925 […]


Fladgate advises Marchmont Investment on new £31 million portfolio investment

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Fladgate LLP’s investment funds group has advised investment managers, Marchmont Investment Management Limited (Marchmont Investment), on the establishment of Jersey based Marchmont Atlas Portfolio Limited (Marchmont Atlas). Marchmont Atlas has invested in a mixed commercial, retail, office and light industrial property portfolio, worth in excess of £31m, and located throughout the United Kingdom. Borrowings were […]