Validity of a notice of warranty claim
The recent case of TP ICAP Ltd v NEX Group Ltd [2022] EWHC 2700 (Comm) highlights the importance of the disclosure process in a corporate acquisition/sale and also the requirements to have a clear and detailed notice of breach of warranty claim that is …
Shared Ownership explained
Following the opening of our Central Milton Keynes office in 1983 Franklins Solicitors LLP were directly involved with the new concept of Shared Ownership and as a result are experienced in dealing with both New Build and Re-Sale Shared Ownership purch …
What does my Solicitor mean by source of funds?
When you purchase a property, large sums of money change hands. This makes it susceptible to fraud and means that if you are purchasing a property, you will need to prove how you have obtained the funds to do so. When you speak to your Solicitor you ma …
The case of Worcester Warriors highlights administration process
Worcester Warriors, the Premiership rugby club, have been suspended from playing and will be put into administration after failing to meet a Rugby Football Union funding ultimatum. The Department for Digital, Culture, Media and Sport, one of the main g …
Trust Registration Service
Background The Trust Registration Service (TRS) is a register of express trusts that have a liability to pay one of the following taxes: capital gains tax, inheritance tax, stamp duty land tax (SDLT) and stamp duty reserve tax. It was introduced in 201 …
A day in the life of…an Associate Partner, Conveyancing Department
I’m Denise Watson, an Associate Partner in our Conveyancing Department based at our Northampton office. I joined Franklins at the age of 16 on a Youth Training Scheme, which nowadays would be similar to an apprenticeship. The Scheme lasted a year and w …
Completion accounts or locked box?
‘Completion accounts’ and ‘a locked box mechanism’ are two tools in share transactions that can be used to determine the purchase price. Both can be used but carry their own risks and advantages. Locked Box Mechanism In a transaction using the locked b …
Overview of LGBT Discrimination
The Equality Act 2010 (the “Act”) prohibits workplace discrimination on grounds of sexual orientation and protects lesbian, gay, bisexual and transsexual workers from direct and indirection discrimination, victimisation and harassment at work. The Act …
Model Articles and a Private Limited Company with a sole director – corporate law update
Many companies have sole directors who labour under the mistaken belief that Model Articles are all they need. Unfortunately, as has been recently confirmed by Fore Investments Holdings Ltd [2022] EWHC 191 (Ch), this isn’t the case. This claim was an u …
Selling your Business – the Team
Now you know what is involved in selling your business, you know how important it is to have the right team around you to guide you with each element of your transaction and ensure the best outcome for you. Who is involved in the transaction? The team …
