Insights: October 2020

This was first published in the Pitchbook Q3 2020 European Venture Report on 29 October 2020. What is your general view on the European VC scene, as we enter the last stretch of 2020? Despite unprecedented turbulence and challenges stemming from COVID-19, the European VC scene has remained remarkably strong and resilient. Millions of jobs […]

The UK edges closer to the expiry of the Brexit implementation period (31 December 2020). The diversion of resources to deal with the COVID-19 crisis; the decision not to request an extension of the implementation period; and the recent threat to renege on the Withdrawal Agreement make the prospect of a no-deal Brexit seem ever […]

On 8 October 2020 the Government issued its “Proposed draft regulations to require scrutiny of pre-pack sales to connected parties” (Regulations). Requirement for approval or evaluation The Regulations would apply to any disposal or series of disposals to a connected person, during the 8 weeks after a company has entered into administration, of all or […]

Fladgate has advised Bridford Investments Limited in its capacity as lead investor in the recent equity capital fundraise by Meatless Farm Limited. The £24m fundraise was conducted by way of a private placement of shares to fund the further global expansion of the Meatless Farm group and further development of its product range. The Meatless […]

The Government’s election promise to introduce a Stamp Duty Land Tax (SDLT) surcharge for non-resident purchasers will shortly take effect. From 1 April 2021, non-residents will be liable to an additional 2% SDLT on purchases of residential property in England and Northern Ireland. This surcharge will be payable in addition to existing SDLT liabilities, including […]

The London Interbank Offered Rate (LIBOR), though still one of the world’s favourite numbers, will cease to be available from the end of 2021. The end of LIBOR will affect all users of the interest rate benchmark and both lenders and borrowers need to be prepared for this change. This change was announced in July […]

After several months of winding down, the financial support offered to employers under the Coronavirus Job Retention Scheme (CJRS) will end on 31 October 2020.  Over recent months the Government has been urged by some to extend the CJRS with fears raised that its withdrawal would result in large-scale redundancies and significant unemployment. The Government […]

Fladgate LLP has advised leading residential developer Strawberry Star on a £75 million funding from Cheyne Capital for its mixed-use development, Lu2on. Lu2on, which is expected to complete Phase 1 in 2021, is on a 6.8-acre site which was formally part of the Vauxhall Motors. The funding will finance the construction of the first phase […]

Fladgate LLP has advised Otium Real Estate, led by Ashley Blake, on the re-letting of the ex-Buzz Bingo unit on Robin Leisure Park Anjou Boulevard Wigan. Following a CVA in August 2020, Buzz Bingo, an anchor tenant of the park, Otium has re-let Unit 4 (25,353 sqft) on a new 15 year lease to Club […]

Sunil Sheth, a Senior Partner at Fladgate LLP heading its India desk, has been appointed the Chair of the Board of Trustees of Anti-Slavery International. Anti-Slavery International is a UK charity established in 1839, and is regarded as the oldest human rights organisation in the world. The organisation continues to have considerable impact overseas, as […]

Fladgate has advised longstanding energy client Angus Energy plc (AIM:ANGS), the AIM listed onshore oil and gas development company, on a £1 million equity placing, which will form part of a working capital contingency fund to support a proposed debt facility of up to £12 million. Together, the placing and the proposed debt funding will […]