Insights: January 2015

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Newsflash re Fines

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Corporate manslaughter and health and safety offences can result in unlimited fines or even a prison sentence. The courts try to apply a consistent approach to sentencing across England and Wales, and there is a Sentencing Council which publishes guidelines on the appropriate level of fine/prison sentence, depending on a range of factors, such as […]


Fladgate advises management on sale of shares of IPS Specials

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Fladgate LLP advised management on the sale to the founders of the shares of IPS Specials, a company backed by private equity house, Elysian Capital. IPS Specials produces customised ‘specials’, which are unlicensed drugs prescribed by doctors to patients with rare conditions or who cannot take licensed drugs for reasons such as allergies. Fladgate corporate […]


Discrimination on the catwalk

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Six years ago, the fashion industry got a wake-up call on race, amid complaints that many shows and magazines only featured white models. Various initiatives were proposed, and some were even pursued (famously, Italian Vogue published an issue with only black models), at the end of which there was, according to the New York Times, […]


IHT planning for business owners: business finance

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As a general rule, Inheritance Tax (IHT) is payable on the net value of assets. In other words, debts are generally deductible when calculating what a person is worth for IHT purposes on death. However, the Finance Act 2013 introduced limitations on the deductibility of certain debts. Judging from a few cases that have come […]


Fladgate advises Yoo Capital on Hoola London investment

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Fladgate LLP has advised Yoo Capital, a privately owned investment firm which specialises in the residential and hospitality sectors, on the finance arrangements for Hoola London, Royal Docks. Development finance for the 360 unit, mixed use residential project, was arranged by RDM Capital acting for Venn Partners and Yoo Capital. Fladgate corporate partner Marc Sosnow […]


Sotheby's wins The Cardsharps case

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We now have the keenly awaited High Court judgment in The Cardsharps case. This was a negligence claim against Sotheby’s who had advised a Mr Lancelot Thwaytes in 2006 that his painting of The Cardsharps was a copy of Caravaggio’s painting of that name, currently in the Kimbell Art Museum in Fort Worth, Texas. Sotheby’s […]


Clash of the Titans

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Legislation does not always fit together very well, as we know. For instance, there are frequent clashes between English Heritage exercising its statutory powers, requiring buildings to be preserved as originally constructed, and the desire of designers, contractors and employers to satisfy the CDM regulations by installing protective netting inside guttering, so that working at […]


Retail branding: Victoria's Secret "Pink" sub-brand halted

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Victoria’s Secret, the famous lingerie brand, set up a sub-brand for its “college girl” clothing range and decided to call it “Pink”. It opened up Pink-branded retail units, sometimes as part of or connected to a VS store, but sometimes on a stand-alone basis. Much of the clothing sold as the sub-brand had “Pink”emblazoned across […]


Fladgate advises Hodson Developments on acquisition and financing of development site

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Fladgate LLP advised Hodson Developments on the acquisition and financing of a substantial part of a development site at Chilmington Green, Ashford. Chilmington Green will bring a vibrant mixed use new community to the town of Ashford in Kent and will provide 5,750 new homes in three distinctive neighbourhoods as well as retail, community, social […]


Fladgate appoints private client specialist Matthew Bennett

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As part of the strategic plan to further expand its tax and private capital practice, Fladgate LLP is delighted to announce the appointment of private client specialist, Matthew Bennett. Matthew joins from Wilsons, where he was head of the tax and trusts group and had been a partner since 2006. Matthew specialises in advising business […]


Football manager contracts of employment – key clauses for clubs to consider

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As the role of a football manager has become increasingly less stable – particularly at the highest level of the game – the terms of a football manager’s contract have assumed greater significance, given the issues that are likely to arise when club and manager part company. Part one of this article explores current trends […]


Fladgate advises on LiteBulb's acquisition of Concept Merchandise

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Fladgate LLP acted for AIM listed client LiteBulb Group Limited on the acquisition of Concept Merchandise Limited. Concept designs, develops and manufactures stationery and party products for the retail market, a new product category for LiteBulb. LiteBulb acquired the entire issued share capital of Concept for an initial consideration of £4.75m cash and £0.25m in […]