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Latest Legal News

Latest Legal News

The Game Is Over... Well Played

Rachael Gibson

The highly-anticipated appeal judgment in the Game Stores case (Re Game Stations [2013] EWHC 2171 (Ch)) was today handed down by the English Court of Appeal (as yet unreported), which landlords across the UK will welcome as closing a legal “loop-hole” in the administration process.

Game collapsed into administration on 26 March 2012, one day after its quarterly rent payments were due to be paid to various landlords in respect of hundreds of stores – reportedly costing the landlords £3 million in lost rent and service charge.  Five days later the company was sold to a p

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LChalmers

Breaking Up Is Hard To Do

Jennifer Chambers

The Financial Services (Banking Reform) Act (“the Banking Reform Act”) passed into law on 18 December 2013 and has been hailed by some as the most significant reform of the banking sector in a generation.  Its aim is to make the UK banking sector more resilient after the 2008 financial crisis. This somewhat populist statute certainly sets out steeper responsibilities and harsher penalties for senior executives including a presumption of guilt where regulations have been contravened, and prison sentences of up to seven years for allowing a financial institution to fail.

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LChalmers

Catch-2014

Mark Lindsay

As we approach 6 April 2014, there are a number of not-for-profit (and possibly many other) organisations who will look on its arrival with a sense of dread.

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LChalmers