Insights: Legal Updates - May 2015

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The pitfalls of internal corporate investigations

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Anil Rajani, Partner at law firm Fladgate, reckons the SFO should take a leaf out of the FCA’s book when it comes to the “self reporting” of wrong-doing within companies. Business leaders are increasingly finding themselves between a rock and a hard place in the tricky terrain that is the economic crime landscape. “The rock” […]


New CGT rules for non residents: what to do now

Helena Luckhurst |

This is the first UK tax year in which non UK residents will be subject to Non Resident UK Capital Gains Tax (NRCGT) when disposing of their UK residential property to anyone other than their spouse/civil partner or to charity. Non resident trustees and personal representatives pay NRCGT at 28% on taxable gains and individuals […]


Having the final word…

Teresa Cullen |

The recent case of Vince v Wyatt struck terror into the hearts of many an ex spouse. The Court allowed Mr Vince’s ex-wife to bring a financial claim against him in excess of 20 years after they had not only separated but gone through the procedure of divorce. Whilst the value of Mrs Wyatt’s claim […]


Implementation of the Transparency Directive Amending Directive

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HM Treasury and the Financial Conduct Authority (FCA) have published a joint consultation paper (CP15/11)(1) on proposed amendments to the Disclosure and Transparency Rules (DTRs) and the Financial Services and Markets Act 2000 (FSMA) which are required in order to implement the Transparency Directive Amending Directive ((2013/50/EU) (TDAD). The FCA is also proposing some other […]


The fallout from the forex fines

Alexander Wildschütz |

We’ve recently seen yet another round of substantial fines by regulators against banks. This time the £3.6bn of fines against banks are for the foreign exchange (forex) scandal, where the banks stand accused of rigging the forex market. For most the impact of the forex scandal is not immediately obvious. We have set out an […]


Restrictive covenants

Matthew Williams |

Developers and landowners often find that development sites are subject to covenants which prohibit certain actions, such as use for a specific purpose, or the construction of or alteration to a building. These covenants are known as restrictive covenants and can have a significant impact on a proposed development. Having identified such a restrictive covenant, […]


The reluctant will maker

Helena Luckhurst |

When you are surrounded by wills on a daily basis (as I am), it’s easy to forget that, for some of our clients, even the thought of making a will is a stressful business, to be avoided at all costs. This was brought home to me recently when I met a couple of Family Office […]


Conclusivity of Final Certificates in JCT contracts

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Sir Francis Bacon once wrote: “If a man will begin with certainties, he shall end in doubts”. However, the decision in the recent case of Marc Gilbard v OD Developments confirmed that any doubt as to the certainty afforded by a Final Certificate which a JCT or similar contract states is to be conclusive can […]


The strange world of private art sales

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I am often contacted by new or existing clients who are putting together a deal for the sale of some work of art, usually for an eye-watering amount. These people are not the current owners, nor the proposed purchasers, but something in between: agents, advisors, introducers, dealers, and often not quite sure themselves. They are […]


The devastating consequences of variations

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A recent case has shown that small sites combined with last-minute changes can be disastrous – so pay attention to variations. A recent case before the Southwark Crown Court highlighted that small sites with last-minute changes are a particularly dangerous combination. Variations require as much attention as the original design. In this case, however, the […]