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SFO Finger of Suspicion Enough to Threaten Company’s Solvency

Public awareness of corruption accusations, whether true or false, can be enough to undermine valuable trading positions and that was said to be so in the case of one company that faced a Serious Fraud Office (SFO) investigation in respect of its dealings in a troubled African state. The company vehemently denied claims that it had made corrupt payments to state...

Contract Adjudicators’ Awards Will Be Enforced – Regardless of Error

Regardless of factual or legal errors, contact adjudicators’ rulings will generally be enforced by the courts, on the basis that reaching the right result is secondary to rapid dispute resolution. The High Court made that point in upholding one such award, although it contained a calculation error that made a difference of up to £2.45 million to the final...

Bespoke Amendments to Standard Contracts Can Be Hazardous

Even in the case of very large construction projects, standard contracts are often employed and the greatest care is needed before making any bespoke amendments to them. That point was strikingly made by the Court of Appeal in a case concerning a £121 million hotel development. The relevant contract was in standard Joint Contracts Tribunal (JCT) form but...

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...