Insights: Legal Updates - June 2014

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Fraud: Playing detective

Sophia Purkis |

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. […]

Starting out with clear intentions – the latest on letters of intent


“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 […]

"Reports of my death have been greatly exaggerated"

Helena Luckhurst |

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 […]

Changes in the way retailers sell to consumers

Alan Wetterhahn, Eddie Powell |

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 far reaching effect of the Bribery Act


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 […]

Swaps mis-selling - What now and what next?

Alexander Wildschütz |

In 2012, the Financial Services Authority identified failings in the way that some banks sold interest rate hedging products, including interest rate swaps. In response in 2013 the major banks started their own reviews of such sales with these reviews and the banks’ redress determinations expected to be completed by June 2014. To date over […]