Wright Hassall's corporate team has helped to facilitate the sale of a modern surveying services provider, headquartered in Warwickshire, in a multi-million-pound deal.

A Limited Liability Partnership (‘LLP’) is an alternative corporate business vehicle that combines the flexible structure of a partnership with the benefits for its partners (or “members”) of limited liability.

On 20 May 2020 the Government published the eagerly awaited Corporate Insolvency and Governance Bill which includes measures that have been developed over a two-year consultation period and others which are going to be introduced specifically to cater for the current pandemic.

The Corporate Insolvency and Governance Bill 2020 (CIGB) is expected to be enacted at the end of June or early July and in addition to the permanent introduction of the new restructuring regime, moratorium procedure and the restriction on termination clauses in supply contracts.

This month's update reports on the three Private Members' Bills that have received Royal Assent; recent government guidance issued on ethnicity pay gap reporting; a review of the current whistleblowing framework; the proposed creation of a new corporate criminal offence of failure to prevent fraud within the Economic Crime and Transparency Bill; and a two case updates, one dealing with a discrimination claim, and the other, holiday pay.

As we await publication of the Corporate Insolvency and Governance Bill which is expected to include details of the new moratorium procedure and changes to wrongful trading provisions, in a surprise announcement on 23rd April 2020 the government confirmed that the Bill would also include further measures to protect commercial tenants from aggressive debt collection by landlords in respect of rent arrears which have accrued directly as a result of the coronavirus pandemic.

For several decades has assumed that there is no limitation on the period within which minority shareholders can bring an unfair prejudice claim. But the Court of Appeal has now held that statutory limitation does apply to this remedy, and that the exact period of limitation depends on the type of relief being asked for. This has implications for all company directors and shareholders involved in corporate disputes.

As companies digest the plethora of negative news around the state of the UK market, it is easy to set our mindsets into “weather the storm” mode. However, is this actually a time for bold moves to push growth? Some experts determine that economic uncertainty, even downturns, can present the best opportunities for growing your business while others are hunkered down. Our corporate team give some insights to areas where companies that are strong strategically and financially can leverage opportunities to grow, and discuss where there may be increased opportunities for those who are already considering a managed exit.

Working alongside a tax advisory practice, we acted for individual clients on the implementation of a complicated tax-efficient reorganisation of a property company where there had been a shareholder falling out.

A vendor initiated management buy-out has been completed at an historic manufacturer and installer of swimming pools as the company plans for the future.