Blog
It is predicted the Jackson reforms will deliver a shock to the civil justice system from 1st April 2013 onwards.
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The desire of one party to get out of a commercial contract is a common cause of disputes. The reasons for termination are numerous. For example, one party may feel that the other is not fulfilling their side of the bargain; the commercial terms may no longer be acceptable or one party’s business strategy may have changed.
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A Money Judgment against a debtor is of little value if it cannot be turned into a cash recovery. At some stage, and preferably before issuing proceedings, consideration needs to be given to the value of the debtor’s assets and where they are located. There is little merit in spending good money chasing bad debts.
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Protecting your existing business in the present trading environment is more important than ever. A key asset of the business that can be overlooked is your technical knowhow and commercially sensitive data. Intellectual Property Law provides protection for certain types of information, for example by patent and trademark registration and copyright.
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A recent case handled by the litigation team has once again highlighted how personal guarantees (“PGs”) can give rise to a potential liability many years later.
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Professional negligence claims essentially involve claims for loss arising out of poor advice from a professionals such as lawyers, accountants, surveyors or architects where the service provided fell below what could have been reasonably expected of a professional in that field. YourDispute is a specialist website designed to put potential Claimants in touch with a solicitor specialising in professional negligence claims (see www.yourdispute.co.uk)
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Tollers Partner, Ian Carson and William McCormick QC recently acted for Horseworld Limited in its successful claim against Heather Killen (a former director of Horseworld) for breach of fiduciary duty.
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Tollers recently dealt with a case at trial which again highlighted the potential traps presented by break clauses, particularly for tenants of commercial premises. In this case the tenants had not served the notice on the correct party, nor in the correct way and nor had they complied with the conditions set out in the lease, Tollers successfully represented the landlord opposing the tenant’s exercise of the break clause.
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From January 2012, the maximum compensation which the Financial Ombudsman Service (“FOS”) can award has increased from £100,000 to £150,000. The FOS deals with complaints mainly by consumers about a wide range of financial services including banking, insurance, mortgages, loans, investments and financial advice. The FOS offers a cost effective and less formal means of seeking compensation where you feel that a financial services provider has not treated you fairly and/or given poor advice.
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HSBC looks set to pay out around £30 million in fines and compensation for the mis-selling of investment bonds designed to cover the cost of long term care.
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