As usual around this time of year, the Practical Law Commercial team have been looking back and asking ourselves what has changed in contract law and drafting? Specifically, what developments in 2020 affect commercial lawyers as they manage existing contracts or draft new ones? We agreed that 2020 was full of changes in practice, even … Continue reading Lessons from 2020 for contract drafting and management
Clyde & Co recently hosted a NEDonBoard panel discussion on the legal duties and liabilities that apply to non-executive directors (NEDs). Laura Cooke, a partner at Clyde & Co, kicked off the discussion by reminding the audience that the Companies Act 2006 (CA 2006) does not differentiate between executive and non-executive directors: they must all … Continue reading Directors’ duties and liabilities: key issues for NEDs
When the business calls for shorter and more user-friendly contracts, how many lawyers think “I’ve always used this clause” and “Who knows what may happen if I stop using it”? But, where there’s a business need to reduce contract terms, we need a good business reason to include each clause, not just fear of an … Continue reading Do I really need that boilerplate clause? Why?
An in-house lawyer’s edict when negotiating a contract is simple: “make sure our risk exposure is as low as possible” and of course, “let’s sign this as soon as possible!” How can a business translate its risk exposure into its contracts and how can the in-house lawyer facilitate the business with this? Practical Law Commercial’s … Continue reading Allocating and controlling risks in commercial contracts
The final report of the Parker Review Committee was published on 12 October 2017. Although the report does not make any concrete proposals in relation to extending its recommendations beyond listed companies, it does contain some practical tools for thinking about diversity that will be of interest to all organisations, not just those directly touched … Continue reading Parker Review on ethnic diversity: thinking points for unlisted companies and other organisations
On 17 January 2017, the Serious Fraud Office (SFO) confirmed that a Deferred Prosecution Agreement (DPA) had been reached with Rolls-Royce, the British aero-engineering company. Approval was given at a hearing before Sir Brian Leveson QC, President of the Queen’s Bench Division. The agreement will result in the payment of approximately £500 million plus interest … Continue reading Rolls–Royce: what can in-house lawyers learn from the DPA?
Practical Law has published expert commentary on the 2016 Autumn Statement. Leading tax experts gave us their views about the extension of corporation tax to non-resident companies, penalties for enablers of tax avoidance, reform of interest deductibility, modernisation of the substantial shareholding exemption, abolition of tax reliefs associated with employee shareholder status, the insurance premium tax rate … Continue reading 2016 Autumn Statement: expert commentary
Practical Law has published an analysis of the key business tax announcements in the 23 November 2016 Autumn Statement. Key new measures announced include a proposal to extend the corporation tax regime to all non-resident companies receiving income from the UK, the alignment of the employer and employee NICs thresholds from April 2017, the removal … Continue reading 2016 Autumn Statement
Much has been written in the press about the Prime Minister’s statements on corporate governance and, in particular, on plans to have worker and consumer representatives on boards, which she referred to in her speech at the Conservative party conference on 5 October and during a press conference on 5 September at the G20 summit … Continue reading Employees in the boardroom: paper published by Tomorrow’s Company considers some flexible options for companies
The issue of executive pay has increasingly been the subject of press coverage in 2016, particularly since the speech made by Theresa May before becoming Prime Minister and leader of the Conservative party in which she outlined her proposals to make changes to corporate governance, including executive pay.
On 24 June 2016, the EU referendum result was announced, with a majority of voters deciding that the UK should leave the EU. Once the government notifies the European Council that the UK has decided to leave the EU, the two-year period for the negotiation for exit under Article 50 of the Treaty of the … Continue reading UK votes out: après nous, le déluge
In a recent case coming out of the administration of high street retailer HMV, the High Court has held that a tenant may not assign its lease to its guarantor. The decision, if followed, will reduce the options for organisations carrying out intra-group reorganisations of their property portfolios, making it critical that a lease is granted … Continue reading Three key issues to consider if your lease assignment is now void
The recent Solar Century case gives an important warning to in-house lawyers about the government’s ability to change policy at short notice, despite potentially devastating effects on a particular sector.
Last week Thomson Reuters hosted a seminar entitled Modern Slavery, Bribery and Corruption: Corporate Compliance with Legal Frameworks which coincided with the publication of two reports on the connection between modern Slavery and corruption from Verité and Liberty Asia. An eminent panel including Nick Grono, CEO of the Freedom Fund, Dan Viederman, CEO of Verité, Duncan Jepson … Continue reading Modern slavery, bribery and corruption: corporate compliance with legal frameworks
The Indian government, in consultation with the Bar Council of India (BCI) and the Society of Indian Lawyers (SILF) has given its go-ahead to a proposal allowing foreign law firms to enter India on a reciprocal basis. This marks a significant shift in the government’s policy towards the issue of liberalisation of the legal services … Continue reading Country focus : India – finally embracing foreign lawyers?
The REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) regime regulates chemicals in the EU. Under REACH, the burden of proof is on industry to demonstrate that the use of a chemical on its own, in preparations or in articles, does not pose unacceptable risks to human health or the environment. As a result, compliance … Continue reading Focus on Environmental Law compliance: substances of very high concern (SVHC)
The long awaited ECJ’s judgment in Maximillian Schrems v Data Protection Commissioner (Case C‑362/14) declared the EU-US Safe Harbor framework (set out in Decision 2000/520 on the adequacy of the protection provided by the safe harbor privacy principles and related frequently asked questions issued by the US Department of Commerce invalid for failing to ensure … Continue reading ECJ rules Safe Harbor decision invalid