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Silence is not golden

A recent case regarding fraudulent misrepresentation in a share purchase agreement has shown that silence is most definitely not ‘golden’ when it comes to disclosing changes in a company’s trading prospects.

In Erlson Precision Holdings Ltd v Hampson Industries plc , the purchaser of a company was entitled to rescind (– i.e. essentially cancel) a share purchase agreement which had been entered into as a result of certain statements which had been made by the finance director of the Vendor in circumstances where the Vendor knew those statements were no longer true as at the date of the sale.

Own goal for arbitration?

The recent Court of Appeal decision in Fulham Football Club (1987) Ltd v Richards has highlighted the potential pitfall of including arbitration clauses in shareholders’ agreements obliging the parties to use arbitration as a method of resolving shareholder disputes.

Are EU serious?

Earlier this year the European Commission began a consultation study on whether a new optional European contract law could be implemented across member states. The proposed optional law would cover both business to business contracts and business to consumer contracts.

The Bribery Act 2010- An honest concern

The Bribery Act 2010 is due to come into force on 1^stJuly 2011. The Act creates one of the most rigorous anti-corruption regimes in the world. Michael Williams, Partner and Corporate Commercial Expert from JCP Solicitors, explains more:

Law firm urges businesses to learn lesson from Wikileaks

A leading corporate law consultant is urging all businesses to look closely at their confidentiality procedures, in light of the damages brought by the Wikileaks exposure.

Bruce Burniston, a corporate law consultant at Swansea-based JCP Solicitors, says that businesses who would have previously considered their operations to be water tight need to look closer as the sharing of information on the internet is increasing the danger posed for companies.

Businesses to face red tape over hospitality

A new Act which aims to eliminate the use of the so-called ‘brown envelope’ or ‘bung’ is set to overhaul how all businesses use corporate hospitality according to Swansea law firm John Collins & Partners (JCP).

Passed with the intention of bringing the UK in line with international anti-corruption laws, the Bribery Act 2010 could have major implications on how businesses utilise corporate hospitality resulting in questions over the legality of even the traditional business lunch.