BLAKE-TURNER SOLICITORS’ SERVICES
CORPORATE COMMERCIAL
Blake-Turner Solicitors provides expert and specialist legal and commercial support for businesses from cradle to grave.
DISPUTE RESOLUTION
Blake-Turner has a team of lawyers who are experienced in assisting clients to resolve their disputes. Disputes are unfortunately all too common in business and can be very costly in terms of management time and resources.
CONSTRUCTION
The team focus is on understanding clients´ expectations and identifying the correct procedures to reach an early and cost effective resolution of the issues in dispute.
EMPLOYMENT LAW
Employment law is an area of law which touches on every business within the UK, whether small or large. The voluminous laws and regulations governing all businesses impact heavily upon those businesses and negotiating them can be a minefield.
INSOLVENCY
Whether you are owed money, rationalising and reorganising your business, or suffering cash flow or more fundamental issues, Blake-Turner LLP have a wealth of experience in using both commercial realities and insolvency legislation to our clients’ best advantage.
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The Rule In West Mercia
The Supreme court handed down its long-awaited judgment in BTI 2014 LLC v Sequana SA on 5 October 2022. The court considered whether company directors owe a duty to consider or act in accordance with the interest of the company’s creditors when the company becomes insolvent, or when there is a risk that it will become, or is at real risk of insolvency.
Here is everything you need to know about the ruling in 60 seconds:
- Directors have a number of duties that have been codified by the Companies Act 2006 (“the Act”).
- Section 172(1) of the Act codified the long-established common law fiduciary duty owed by directors to act in good faith in the best interest of the company.
- This duty is modified by section 172(3) where any enactment of rule of law requires directors to consider or act in the interest of creditors.
- West Mercia established a common law rule recognising a directors’ duty to consider creditors’ interests in certain circumstances.
- In Sequana the Court of Appeal held that the duty to consider creditors’ interests is engaged “when the directors know or should know that the company is or is likely to become insolvent”, with likely meaning “probable”. A “real risk” of insolvency was not sufficient to trigger that duty.
- The Supreme Court ruled that the duty is engaged where the directors know or ought to know that the company is insolvent or nearing insolvency, or that insolvent liquidation or administration is probable. A potential earlier trigger of a real and not remote risk of insolvency does not suffice.
Five unexpected ways inflation could affect construction
Five unexpected ways inflation could affect construction The Office for National Statistics (ONS) last week revealed that consumer price inflation had hit 9 per cent in the year to April, while the Bank of England warned the cost of living was expected to rise further this year. Climbing prices are nothing new to the construction […]
The Exit Strategy: What investors look for in a business
The Exit Strategy: What investors look for in a business When investors sit for pitches, they expect to be told about an exit strategy. This includes a tale of future acquisition or IPO. Nowadays, these contingency plans have become more creative. Take, for example, BodeTree. In an article about creativity being a hook for investment, […]
