Over the last year we have seen two sets of three cases on the issue of payment provisions in construction contracts. Payment in construction contracts on projects in Great Britain is an issue underpinned by a statutory framework intended to improve cash flow to the construction supply chain by the inclusion of an adequate payment […]
It seems that whenever the court changes its rules with a view to improving efficiency or reducing costs, it has the opposite effect. The so-called “Jackson reforms”, which introduced court-supervised “cost budgeting”, are universally viewed (except by Lord Jackson) as greatly increasing costs and causing considerable delay. Days are spent in preparing budgets and then […]
The Autumn Statement contained mainly political and economic measures. There were a number of tax and other announcements relevant to private individuals, but the forthcoming publication of draft legislation (expected on 9 December) to be included in the Finance Bill 2016 will be more significant, particularly for resident but non-domiciled individuals. The measures for individuals […]
Summary of the changes On 26 November 2015, the UK completed the implementation of the Transparency Directive Amending Directive. This has entailed amendments to the Financial Services and Markets Act 2000 (FSMA) and to the Disclosure and Transparency Rules (DTRs). Key changes include: a new power for the Financial Conduct Authority (FCA) to apply to […]
The Football League has recently finalised some important changes to its insolvency policy which were approved at an AGM over the summer. These changes could have significant implications for clubs, funders, investors and potential rescuers. Background – the Football Creditor Rule The Football Creditor Rule The approach of the Football League to insolvency has drawn […]
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