Payment practices – consultation on new powers for the Small Business Commissioner

The Department for Business, Energy and Industrial Strategy (BEIS) has published a consultation on new powers for the Small Business Commissioner to tackle the ongoing issue of late payments. In March 2020, responsibility for the voluntary Prompt Payment Code moved to the Small Business Commissioner following the Government’s call for evidence on how to create a responsible payment … Read more

LIBOR transition – where things stand and what companies should do now

Many treasury teams are currently receiving letters from their lenders reminding them of the discontinuation of LIBOR from the end of 2021. Our finance team has published a briefing on Libor Transition: where things stand and what you should do now, which sets out the current state of LIBOR replacement across different debt and treasury products, … Read more

Covid-19 – Business interruption insurance

The High Court has handed down judgment in the Covid-19 business interruption insurance test case (The Financial Conduct Authority v Arch and Others). The Financial Conduct Authority (FCA) advanced the claim for policyholders in the case, which considered 21 sample wordings from eight insurers. Whilst different conclusions were reached in respect of each sample wording, … Read more

Enforcement of judgments after the end of the Brexit transition period

The European Commission has published a Notice to Stakeholders setting out the rules that it considers will apply in the field of civil and private international law once the Brexit transition period comes to an end on 31 December 2020 (assuming no other agreement is reached). At the end of the Brexit transition period, the … Read more

Covid-19 – latest developments for corporate practitioners

The following guidance and materials may be of interest to companies in light of the Covid-19 pandemic. Corporate reporting FRC thematic review – The Financial Reporting Council (FRC) has published a thematic review on the financial reporting effects of Covid-19. The report seeks to provide guidance for companies when preparing their annual and interim financial … Read more

Our practical guide to liquidated damages, limitation and exclusion clauses

Parties to commercial contracts commonly seek to set some parameters around what will happen in the event of a breach. They may for example agree a fixed sum that is payable on breach, or set a maximum sum for any damages, or exclude liability (or particular categories of liability) altogether. Such clauses may not always … Read more

Consolidated corporate Covid-19 update

This Covid-19 update briefing summarises the major pieces of legislation and guidance which have been published in relation to UK corporate law over the last few months as a result of the pandemic. Please click here to see the briefing.   Read more

Consolidated corporate update January to June 2020

This half-yearly update briefing summarises the major developments in UK corporate law and regulation which have occurred over the last six months and which will be of relevance to UK listed companies. Please click here to see the briefing.   Read more