Monthly Archives: September 2024

Do I need a prenup?

Posted on 23/09/2024 by Caroline Newton

A prenup is a valuable tool for couples who want to establish clear financial boundaries before marriage. When created and maintained properly, it can provide peace of mind and ensure that both parties are treated fairly in the event of a divorce. While no one enters a marriage expecting to divorce, making these arrangements while in a positive and rational mindset allows for fair decision-making. By considering a prenup during a harmonious time in your relationship, you can protect both parties and ensure the best possible outcome if challenges arise in the future. In recent years, prenuptial agreements have gained popularity, not just among wealthy individuals, but also among younger couples and those entering second marriages. Historically, prenups were often viewed with suspicion, as though planning for a potential divorce was unromantic or pessimistic. However, attitudes have shifted as more … Continue reading →

Posted in Divorce and Separation, Family and Children | Leave a comment

What is a Members’ Voluntary Liquidation?

Posted on 18/09/2024 by Caroline Newton

Not all businesses go into liquidation because they are insolvent. In fact, there are many reasons why the shareholders and directors of a solvent company may decide to wind up its affairs by way of a members’ voluntary liquidation (MVL). However, just like insolvent liquidations, a members’ voluntary liquidation can be a challenging process to navigate and often requires expert advice from a range of specialists, including corporate and commercial solicitors, such as those at Scott Bailey LLP, accountants, and licensed insolvency practitioners, such as those at Antony Batty & Company. We are grateful to our friends at the Bournemouth office of licensed insolvency practitioner Antony Batty & Company, who have created this helpful introduction to what an MVL is and how one works, as well as outlining some of the tax-efficient benefits that qualifying for Business Asset Development Relief … Continue reading →

Posted in Corporate and Commercial, Insolvency and Restructuring | Leave a comment

Help! I’ve been mis-sold a boat

Posted on 13/09/2024 by Caroline Newton

Buying a boat should be an exciting time, whether you are purchasing a yacht to enjoy sailing along England’s beautiful coastlines, a commercial vessel to help grow your business, or a houseboat to call your own. However, that excitement can quickly drain away if your new boat does not meet the agreed design specification or isn’t fit for purpose. If you have found yourself in this unfortunate position, here are some steps you can take to resolve the matter. Step 1: Review your contracts If you have bought a boat that isn’t up to scratch, you should start by reviewing your contracts. Whether it’s a sale and purchase agreement or a build contract, these legally binding documents set out the seller or boat builder’s legal obligations, enabling you to hold them accountable. Should your boat fail to meet the agreed … Continue reading →

Posted in Litigation and Dispute Resolution, Marine | Leave a comment

UK government ratifies 2019 Hague Convention: What it means for you

Posted on 13/09/2024 by Caroline Newton

The UK government has ratified the 2019 Hague Convention, a significant step towards the cross-border recognition and enforcement of judgements on civil and commercial matters. It becomes effective in England and Wales as of 1 July 2025. Whilst the Hague 2019 Convention will initially only come into force in England and Wales, there is the possibility it will be extended to Scotland and Northern Ireland in the future. Prior to the UK’s withdrawal from the European Union, EU rules, known as the Brussels Regulation, governed the enforcement of civil and commercial judgements between the UK and other EU member states. However, these rules no longer apply to any proceedings started after the end of the Brexit transition period on 31 December 2020. Effectively, this has left no structured system for the reciprocal enforcement of judgments between the UK and EU … Continue reading →

Posted in Litigation and Dispute Resolution | Leave a comment

Choosing the right business structure for your veterinary practice

Posted on 05/09/2024 by Ben Ironmonger

Starting a veterinary practice is an exciting venture, but there is a lot to consider. One of the most critical decisions you’ll face early on is selecting the right business structure. This decision will have long-term implications on how your practice operates, manages its finances, and addresses legal responsibilities. In this brief guide, we outline the key business structures available to vet practices and their advantages and disadvantages. Private Limited Company A private limited company (Ltd) is a separate legal entity and can be formed by one or more individuals. It is a popular choice for veterinary practices due to its liability protection and potential for future growth. Advantages: Disadvantages: Our company and commercial solicitors are very experienced in advising business owners on private limited company legal matters, and regularly help clients with incorporations, shareholders’ agreements, and restructuring companies. Partnership … Continue reading →

Posted in Corporate and Commercial, Healthcare | Tagged , , , | Leave a comment

How to handle US and Canadian shareholdings in estate administration

Posted on 02/09/2024 by Caroline Newton

Do you have an estate with US or Canadian shareholdings? During the administration of an estate, you may come across assets held in the USA or Canada. Many shareholders find themselves with US shares in companies due to buyouts or mergers. If you are administering an estate with North American assets, you can expect to encounter complicated procedures. Both the USA and Canada have adopted procedures which can appear to be complex, strict, and not particularly user-friendly for those situated outside of either country. Registration of death and share transfer When dealing with North American assets in a deceased estate, the usual formalities include registering the death with the share registrar or transfer agent. This process allows you to either transfer the shares out of the name of the deceased or arrange to sell the shares. Each company has its own set … Continue reading →

Posted in Wills, Trusts and Probate | Leave a comment