Insights: June 2014

The construction industry faces daily risk of fraud and corruption – particularly within its extended supply chain. So what do you do if you think you might have fallen victim to it? Recent reports, including last year’s from the Chartered Institute of Building, have highlighted the risk to the construction industry of fraud and corruption. […]

Fladgate LLP has acted for AIM listed One Delta plc on its £3m fundraising and the £2.62m all-share acquisition of Audioboo Limited. Audioboo, is a digital social media audio platform, ‘the audio equivalent of YouTube’. The acquisition constituted a reverse takeover under the AIM Rules and following shareholder approval the company was re-admitted to AIM […]

Legal updates for all those involved in the real estate sector.

Fladgate LLP advised a private investor on the sale of a portfolio of two leasehold properties for £52.5m. The properties comprised a warehouse and offices, and were wholly let to the Unipart Group of Companies. The Fladgate team was led by partner Nick Mumby, with support from partners Richard Kaufman and Philip Turner.

“As with so many things, the simplest solution is often the best”; so said the judge in the recent case of Twintec v Volkerfitzpatrick when trying to decipher the terms of a letter of intent. Whilst the nuances of letters of intent have been discussed at length for many years, the basic requirements for a […]

Fladgate LLP has acted for Zurich based client Hitachi Zosen Inova AG (HZI) on an engineering, procurement and construction contract with Mercia Waste Management to deliver a thermal energy from waste (EfW) facility near Kidderminster. Mercia, which is a 50/50 joint venture between FCC Environment Services (UK) and Urbaser, signed a waste management services PFI […]

In its latest consultation document of 6 June 2014, the Government proposed some radical amendments to the Inheritance Tax (IHT) system, which will affect anyone planning to set up new trusts or add to existing ones after 6 June 2014. A trust has the potential to pay IHT periodically over its ‘lifetime’ (which can be […]

Fladgate LLP has advised the major shareholders of Handpicked Companies Limited, owners of online retailer The Handpicked Collection (Handpicked), on its sale to News UK. Handpicked is a multi-award winning website that sets itself apart from the crowd of e-retailers with its unique panel of expert journalists and trendsetters who select high quality products. The […]

Fladgate LLP has advised leading home interiors company Gallery Direct Limited on its acquisition of furniture manufacturer Frank Hudson Limited. Gallery Direct’s global customer base will further expand following this acquisition. Managing director of Gallery Direct, Peter Delaney said, “For three generations, the Frank Hudson team have crafted some of the most desirable and fashionable […]

Fladgate LLP advised Seastar Developments (Seastar) on the development of 353 The Strand, London. The striking period property, a former office building, now consists of four apartments, including a duplex penthouse, all with views across the Thames to the Royal Festival Hall. Interiors combine period grandeur and tasteful modern design. The development has been awarded […]

2014 is the “Year of the Consumer” and the UK Government is implementing a raft of new legislation which is aimed at giving greater rights to consumers, who will benefit from increased transparency and further information when purchasing goods or services online. The new regulations apply to “distance selling” contracts (where a trader and consumer […]

The SFO’s investigation into GSK’s commercial practices acts as a timely reminder of the potentially far reaching effect of the Bribery Act 2010 (BA), especially when UK companies have business operations in foreign jurisdictions. Section 7 of the BA states that an organisation (C) is guilty of an offence if a person (A) associated with […]