Blog Posts: November 2010

If a director who has loaned money to their company resigns, or is dismissed, can they get their loan back? Many companies, especially in the current economic climate, seem reluctant to repay a director’s loan in this situation. The first thing to look at is the loan agreement itself, if there is one. It may set out the circumstances when a loan can be repaid. If the written agreement doesn’t deal with this point or, if there is no agreement, then the loan will generally be repayable.... (read more...)

As we approach the end of 2010, the economy is still very fragile. However, most of the small and medium businesses we have been talking to are showing some improvement compared to this time last year. Our clients are saying they are busier now than they have been for a couple of years, although it is fair to say that a lot of this is due to them having cut back on costs and staffing levels to such an extent that they don’t have much spare capacity. Some of the recent official statistics a.... (read more...)

In my blog of 15th September 2010, I pointed out that breaches of directors’ duties can have serious consequences for a director, particularly if a company becomes insolvent or after it is sold. It is in these situations that directors frequently find themselves facing claims to pay often-huge sums into the company. One of the areas where it is easy for a director to slip up is in ‘conflicts of interest’. The law is complicated but, for SMEs, can be summarised as follows: .... (read more...)

Back in January I blogged on the Police powers to close licensed premises. But those powers do not extend to bona fide members clubs who possess a Club Registration Certificate rather than a Premises Licence. I have just advised a members club. They have a Club Registration Certificate. They held a party a few weeks back. Things got out of hand.They were gate crashed and trouble broke out. The Police were called. The Police told them they must close and not re-open until they had installed a ne.... (read more...)

Leasing business premises can be a real minefield for the unwary business owner. In this series of posts I shall go through the various aspects of a commercial lease to explain some of the legal jargon and also provide some lease negotiation tips along the way. D is for Dilapidations Dilapidations is yet another legal piece of jargon commonly used in relation to business premises. The first time a tenant sees the word 'dilapidations' is usually when an intimidating looking document called a S.... (read more...)