News archive: July 2024

• Negotiating funding for your management buyout (MBO)
  Posted on July 10, 2024
  Buying into and taking the helm of a business you know well can be an exciting prospect. A management buy-out (MBO) offers the experienced management team a chance to take a business forward in new ways, ones which the previous owner may not have supported. Your inside knowledge of the business, its strengths, weaknesses, threats and opportunities, means you can develop a sound business plan for funders, and it puts you in a good negotiating position.
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• The power of a letter before action in a business dispute
  Posted on July 4, 2024
  If you are involved in a business dispute, then it is sensible to try to resolve the matter as quickly and cost-efficiently as possible to avoid or reduce the chances of having to go to court. Taking advice at an early stage from a legal advisor who is experienced in dispute resolution is vital, and one powerful tool in their toolbox is a well drafted letter before action.
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• Departing employees and non-compete clauses; an employer’s guide
  Posted on July 4, 2024
  An employee builds up valuable knowledge and contacts during the time that they work for you, but your commercial interests may be vulnerable if they leave and go on to work for a competitor. It is therefore prudent to take steps to protect confidential information, such as pricing strategies, bids, or cutting-edge research, and to guard relationships with clients or suppliers that could be exploited to another business’s advantage.
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• Commercial development and biodiversity net gain
  Posted on July 3, 2024
  If you get planning permission for the development of a site, it now comes with an obligation to ensure that there is a net gain in biodiversity. The statutory obligation is to demonstrate a minimum 10 per cent increase in biodiversity after the development has been completed, compared with the site before the development began. However, you could find yourself facing a bigger requirement as each local authority is free to impose a higher threshold.
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• Probate delays
  Posted on July 3, 2024
  Delays in the probate system have hit the headlines of late, with bereaved families having to wait many months to obtain a grant of probate – a stark contrast to the 16 weeks the Government says the application should take. Adding to this, further delays at HMRC mean that estates are taking much longer to finalise before everything can be distributed and wrapped up by the executors.
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