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Valuing a Company? Are You Using the Right Method?

Putting a price on companies can be a tricky business and there is more than one formula for assessing their worth. In one case, a firm of professional valuers who used the wrong method were found liable by the High Court to pay six-figure compensation to a bank which lent £1.8 million on the basis of its advice. A company that owned two entertainment venues in...

Is the Online Property Sales Market as Competitive As It Should Be?

Heavy investment in Internet-based businesses has resulted in the establishment of powerful trading positions in many fields of endeavour. However, in one important test case, the impact of such developments on competition in the online property sales market will be analysed by a specialist tribunal. A mutual limited company, whose membership was made up of...

Partners Subject to Forfeiture Principle – Landmark High Court Ruling

It is established law that agents who breach their duties can be deprived of their remuneration. However, following a landmark High Court ruling, that forfeiture principle has been extended to profit shares paid to equity partners and members of limited liability partnerships (LLPs). Following an investment manager’s retirement from the highly successful...

Paid Employee or Equity Partner? High Court Guidance

The sometimes blurred distinction between paid employees and equity partners can store up trouble for the future and that is one reason why it is important to take legal advice so that clarity can be achieved and everyone knows where they stand. That point could not have been more clearly made than in a High Court case involving a son who joined his father’s...

Third Party Litigation Funder’s £1.94 Million Success Fee Recoverable

Litigation is expensive and there is sometimes no option but for those involved to rely on third party funding that is available in the marketplace. In a test case concerning such an arrangement, the High Court ruled that a 300 per cent success fee charged by one such funder was recoverable in the context of a commercial arbitration. An arbitrator had found...

Insurance Cover Excluded in Maritime Cocaine Smuggling Case

In a decision with vital implications for the shipping industry, the Court of Appeal has ruled that – despite the complete innocence of her owners – a merchant vessel that was seized in a Venezuelan port after more than 130 kilos of cocaine were found strapped to her hull was not covered by insurance. The ship was loading with coal when the drugs were...