Archived News from 2019

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November

Legal Article

Ineffective notice renders SPA tax claim out of time

28/11/19

The following case serves an important reminder of strict compliance with contractual notice provisions and the significant repercussions of failing to draft them accurately. Stobart Group Limited and another v William Stobart and another (2019) In March 2008, Stobart Group Limited (SGL)…

Legal Article

Agreement to agree: Court of Appeal rules SPA earn-out unenforceable

28/11/19

The following case serves as an important reminder of the importance of providing certainty within agreements and displays the perils of leaving the option to agree terms at a later date. Morris v Swanton Care & Community Limited (2018) In November 2009, Mr Morris (Claimant) and his…

Legal Article

Share Buybacks - Proceed with caution!

26/11/19

An in-specie contribution is a viable alternative to transferring cash into a pension scheme, and can include assets such as property or shares. Dangers can arise where the shares held in the pension scheme are bought back by the company for cash. Private limited companies can make use of a…

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October

Legal Article

Electronic Signatures: the new form of signing?

14/10/19

Both the Electronic Communication Act 2000, which defines electronic signatures and its authentication, and the EU Regulation elDAS (Electronic Identification, Authentication and Trust Services), which seeks to standardise the use of electronic signatures, appreciate the rapid development of the digital…

Legal Article

'Fire sales' - the pros and cons of buying out of administration

08/10/19

The financial gains to be made from buying a business out of administration can be significant. However, the potential risks involved can also be just as great. For this reason, it's vital that potential buyers consider the benefits and pitfalls of undergoing such process and take advice from…

Forbes News

Forbes Solicitors Celebrates Legal 500 Successes

02/10/19

Forbes Solicitors is celebrating after being recommended in 15 Legal 500 categories and ranking as a Top Tier Firm, with 35 lawyers listed as recommended. Forbes' category recommendations are up one from last year, with Contentious Trusts and Probate being ranked for the first time. The…

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September

Forbes News

Forbes Solicitors Shortlisted In Prestigious North West Dealmakers Awards

16/09/19

Forbes Solicitors has been shortlisted in the Mid-Size Law Firm of the Year category in the prestigious Insider North West Dealmakers Awards 2019. The leading North West awards are celebrating their 25th Anniversary, with the winners being announced during a black tie dinner at the Manchester…

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August

Forbes News

Rectification of a Disclosure Letter

05/08/19

The nature of a disclosure letter is in its name, to disclose relevant points of interest to a buyer prior to the conclusion of a sale, which may be inconsistent with warranties provided by a seller in a sale agreement. As a crucial document in any acquisition, it is in the seller's interest that…

Forbes News

Do I need a Shareholder's Agreement?

05/08/19

This is a question we often get asked by our clients who are currently holding or are planning to hold shares in a company. Although there is no legal requirement to have a shareholders' agreement, every company is strongly advised that they have one. Shareholders' agreements are a means…

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July

Forbes News

Management Buyout of Business Insight 3 Ltd

22/07/19

Preston-based Business Insight 3 Ltd has undergone a management buyout by Director Glen Higson. Bi3 has been keeping property secure and people safe and informed since 2009. It combines innovative, cutting edge technology from around the world with in-house expertise to provide bespoke solutions…

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June

Legal Article

The Importance of Due Diligence

18/06/19

When purchasing a business, whether it is a purchase of its share capital or its assets and liabilities, the buyer of the business will often undertake due diligence (the level of which varies dependent upon the size of the undertaking, the terms of the deal and the level of pre-existing knowledge by…

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May

Forbes News

Forbes Acts For LBT Holdings Over Sale To Brickability

29/05/19

Leading North West legal firm Forbes Solicitors has advised LBT Holdings Limited over the sale of Bolton-based LBT Brick and Facades Limited to Brickability UK Holdings Limited. The deal, for an undisclosed sum, sees the expansion of Brickability, providing it with increased coverage in the North…

Forbes News

Forbes Advises HSL Group Holdings Limited Over Sale to 4Wall Entertainment Inc

10/05/19

Leading legal firm Forbes Solicitors has advised Blackburn-based entertainment services specialist HSL Group Holdings Limited over the sale of its business to 4Wall Entertainment Inc. The multi-million pound deal sees HSL, which provides high level lighting, video, rigging, and production services…

Forbes News

Forbes Appointed To Advise Leading Housing Association Together Housing

08/05/19

Forbes Solicitors has been selected to advise one of the largest housing associations in the North of England after being named as a successful bidder for Together Housing Group's Legal Services Framework. Forbes will advise on legal issues surrounding Housing Management & Litigation,…

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April

Forbes News

Forbes Advises BCC Cars Over Sale To Chapelhouse Motor Group

15/04/19

Forbes Solicitors has advised Bolton Car Centre (BCC Cars) over the sale of three motor retail sites to North West-based Chapelhouse Motor Group. The sites in Blackburn, Bolton and Wigan will continue to represent Suzuki and Citroen franchises under the Chapelhouse name. BCC Cars will continue…

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March

Legal Article

Changes to Entrepreneurs Relief

18/03/19

In the lead up to the Budget Statement at the end of October 2018, the Chancellor announced that changes to Entrepreneurs Relief ('ER') would be introduced in the New Year. ER is a relief applied on the sale of certain business assets or shares where Capital Gains Tax is charged at a reduced…

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February

Legal Article

What can SME's do to prepare for Brexit?

15/02/19

With the Brexit deadline imminently approaching, how can you prepare your business for Brexit? This is a challenge facing every SME based in the UK that either sells internationally, has an international supply chain or relies on international workforce. SME's employ over 15 million people and…

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January

Forbes News

Forbes Offers Free Consultations Over Business Banking Switch

04/01/19

North West companies are being offered free help and advice by Forbes Solicitors, so that they are aware of the potential benefits and pitfalls of the Royal Bank of Scotland Business Banking Switch. The Switch, due to be launched on February 25 2019, is aimed at increasing competition in the UK…

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