Why You Should Always Use a Lawyer for Important Transactions – Read On

Why You Should Always Use a Lawyer for Important Transactions – Read On Although lawyers can generally be relied upon to act with integrity and honesty, the occasional bad apple is sadly inevitable. However, as one High Court case showed, the advantage of employing a professional to advise you on important transactions is that you will be entitled to full compensation if the worst happens. The case concerned a highly experienced solicitor with an unblemished professional history who worked for a law firm as a consultant. In the context of what she believed was a legitimate application for a short-term business loan, she had been duped by identify fraudsters. A…

Bankrupt Handed 15-Year Ban

Bankrupt Handed 15-Year Ban Following an investigation by Insolvency Service (IS) specialists, a director has been given the maximum bankruptcy restriction order of 15 years after he was found to be acting as a director of a limited company despite having previously agreed to a 10-year disqualification order and that order still being in force. The undertaking, which was given in 2008, prohibited him from acting as a director, directly or indirectly, for any company in the UK. He was made bankrupt in 2013 and his discharge was suspended indefinitely – a rare occurrence. A bankrupt is also not allowed to act as a company director until discharged. Despite this,…

Mother Wins Important Victory in ‘Wrongful Birth’ Case

Mother Wins Important Victory in ‘Wrongful Birth’ Case In a highly unusual ‘wrongful birth’ case, a mother whose daughter was delivered gravely disabled following negligent failures to pick up warning signs during ante-natal scans had her hopes of winning compensation boosted. The mother was devoted to her eight-year-old daughter but argued that, had she learnt the truth about her condition in time, she would have opted to terminate the pregnancy. In the event, the girl was born microcephalic – with a very small head – and would require constant care throughout her life. The woman underwent a total of 10 ultrasound scans during her pregnancy but her baby’s condition remained undetected.…

Insolvency – Court Delves Into Alleged ‘Spinning Top’ Tax Avoidance Scheme

Insolvency – Court Delves Into Alleged ‘Spinning Top’ Tax Avoidance Scheme Insolvency professionals are familiar with so-called ‘spinning top’ schemes, whereby money is moved in a perpetual circle to create an illusion of loss or investment with the sole objective of avoiding tax. The High Court delved into one such alleged scheme but rejected claims that it was unconscionable or in breach of trust. The case concerned an insolvent limited partnership that was said to owe more than £1.3 million to company A. The debt was alleged to have arisen after company A took assignment of a loan made by company B to the partnership. The liquidators of the partnership,…