Insights: August 2013

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The courts get tough!

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Some recent judicial decisions in the Technology and Construction Court show the court is taking a less compromising attitude to litigants. In the case of Venulum Property Investments Limited v Space Architecture Limited and others, Venulum had failed, by a mistake, to serve its particulars of claim within the time limits allowed by the court. […]


Fladgate acts for AIM listed Tri-Star Resources Plc on £4m private placing

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Fladgate LLP has acted for AIM listed Tri-Star Resources Plc (Tri-Star) on the private placing of £4m secured convertible bonds with Odey European Inc. The bonds will be drawn down in two tranches, with the first £1.33m being drawn down immediately and the balance to be drawn down by 31 January 2014. Proceeds from the […]


Statutory deposits - landlord strikes out

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A Court of Appeal decision[1] has confirmed that a tenant’s deposit needs to be protected where: the initial fixed-term assured shorthold tenancy (AST) was entered into before 6 April 2007; and the initial fixed term ended at some point after 6 April 2007 and the tenancy has not been renewed or determined, so a statutory […]


Intra-family debts and IHT

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The deductibility of debts for inheritance tax (IHT) purposes is a hot topic at the moment, following the changes introduced to IHTA 1984 by this year’s Finance Act. However, it’s easy to overlook more mundane loans between family members. Not surprisingly, these loans often remain undocumented as they tend to be informal arrangements. However, that […]


Fladgate advises on disposal of Hotel Saint-Barth Isle de France to LVMH Moët Hennessy Louis Vuitton

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Fladgate LLP has advised Adventurous Journeys Capital Partners and other investors on the disposal of Hotel Saint-Barth Isle de France to LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury products group. The five star hotel, located on Flamands Bay on the Caribbean island of St Barthélemy, has won numerous awards. Adventurous Journeys, based in […]


Hell hath no fury like a business partner spurned

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The success of private companies depends on there being a functioning relationship between the key stakeholders, in particular the shareholders and directors. In this article we consider the measures that can be taken at the outset of a business relationship to minimise the likelihood of disagreements and also the avenues available to obtain redress where […]


Fladgate advises Jerusalem Formula One on two day motor racing event

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Fladgate LLP has advised Media & Sport Management Limited, the organisers of the Jerusalem Formula, a two day motor racing event where Formula 1 racing teams raced around the edge of Jerusalem’s Old City. Tens of thousands of spectators watched the event which featured the Ferrari team (whose car was driven by Ferrari test driver […]


What's your share? A cautionary tale for co-owners of real estate

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If you’ve ever bought a property with someone else, chances are that your lawyer asked you a slightly strange question: “How do the co-owners want to own this property?” To which you probably felt like replying – “Jointly? (Is this a trick question?!)”. The law gives co-owners two options. They can own the equity in […]


Fladgate advises Warner on disposal of Bouverie Place Shopping Centre

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Fladgate LLP has acted for the joint receivers of Warner Estates (Folkestone) Limited and Warner Investments on the disposal of the Bouverie Place Shopping Centre, Folkestone to Tristan Capital Partners and Ellandi for over £20m. The 231,000 sq ft shopping centre was built in 2007 by Bride Hall, acting as Warner’s development partner, and is […]


LIBOR test claims in England

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The rigging of certain LIBOR rates has led to regulatory action in the UK, US and Switzerland and at EU level, and more is yet to come, including antitrust action as well as criminal proceedings against individuals. LIBOR rates were widely used to set interest rates on loans and in interest rate swaps and other […]


The Jackson reforms and property litigation

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1 April 2013 saw the introduction of the most far-reaching changes to the Civil Procedure Rules since they were introduced in 1999. They are the result of a review, undertaken by Lord Justice Jackson in 2009, into whether changes in case management procedures could bring about more proportionate costs in litigation. While the new focus […]


Fladgate advises New World Private Equity Partners on £3m investment in SACO

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Fladgate LLP has advised a syndicate of investors led by New World Private Equity Partners (NWPE) on a £3m investment in SACO, one of the leading serviced apartment owners and operators in the UK. The investment will enable SACO to expand its sales and marketing efforts and to increase its apartment portfolio in the UK. […]