News & Insights for Business

In the UK (England and Wales) these are the relevant dates for limitation for the listed causes of action

THIS ARTICLE WAS ORIGINALLY PUBLISHED IN THE MARCH QUARTER EDITION OF THE CHAMBER OF COMMERCE MAGAZINE

The office of UK Company director may be vacated by statute, by death, or under a provision in either the Company’s Articles of Association or, if one exists, a Shareholders Agreement.

The UK Companies Act 2006 (section 175), imposes on directors a duty to promote the success of the company, which encompasses the duty to act in good faith and in the best interests of the company.

Be warned – UK and EU Company Disclosure Requirements Are Changing! PSC Register – People With Significant Control From 6 April 2016, the majority of UK companies and LLPs will be required to maintain a register of “people with significant control”.

THIS ARTICLE WAS ORIGINALLY PUBLISHED IN THE SEPTEMBER QUARTER EDITION OF THE CHAMBER OF COMMERCE MAGAZINE

Once you decide to sell or retire, don’t look back. Plan what you want or need from a sale and get on with it. I am a big believer that a wrong decision is better than indecision.

NEW FIGURES REVEAL RECORD BREAKING YEAR FOR START-UPS, SAYS START UP BRITAIN

Using the target to assist with the financing of an acquisition Prior to the Companies Act 2006, “Financial assistance” i.e. a target company using its own funds to purchase its own shares, was prohibited in both public and private company mergers and acquisitions, unless a “whitewash” procedure followed.