The EU Fifth Anti-Money Laundering Directive (5AMLD) was enacted into UK law with effect from 10 January 2020. It requires art businesses to put in place systems intended to prevent their potential use in money laundering or for various other offences (in addition to those systems already required under the Proceeds of Crime Act 2002).
Read moreA recent BVI case has shown that the Duomatic principle, which allows shareholders to informally approve a company’s actions provided they act unanimously, can apply even where actual authority has not been granted and where the ensuing action by the company is against the best interests of the shareholders.
Read moreThe Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 were laid before Parliament on 15 September 2020. Among other things, this statutory instrument (SI) implements the new Trust Registration Service (TRS) rules, as extended by the EU's Fifth Money Laundering Directive, which came into force on 10 January 2020. It is expected that the SI will be implemented as drafted.
Read moreWe understand that dealing with separation and divorce can be highly sensitive and emotion-charged at the best of times. The COVID-19 pandemic may have added to your concerns, with additional complications to your personal circumstances or you may have additional questions on how best to start the divorce and separation process. The Forsters Family team are on hand to guide you through the best options available to you in the current circumstances and can do so in the way that is comfortable for you.
Read moreOn Tuesday 22 September 2020 Commercial Real Estate Senior Associate, Anthony Goodmaker attended the virtual Student Housing Conference 2020, together with Partner, Ronan Ledwidge. The overall message from the many speakers was one of positivity and optimism – Anthony highlights his 5 takeaways from the event.
Read moreThe Government has announced that the current legislation which prevent landlords from forfeiting commercial leases, or levying execution on the tenant's goods by way of CRAR to recover outstanding rent, will be extended from 30 September 2020 until 31 December 2020 to provide further protection for tenants who have not paid their rents or other sums due under their leases.
Read moreMany businesses are currently looking at their profitable (and not-so-profitable) parts and wondering which could be bundled up and sold. A precursor to any such sale may well be a preliminary intra-group reorganisation. Understanding the tax (and corporate law) aspects prior to making any decisions about a reorganisation is key.
Read moreThe Government has announced that it will introduce a temporary change in the law to allow wills to be witnessed using video technology during the coronavirus pandemic. It is set to come into force in September, but will apply retrospectively to wills executed from 31 January 2020. This article outlines the relevant law and the planned changes, along with some high-level guidance for those who may have to rely on the new rules in the absence of being able to execute a will in the normal way.
Read moreOn 17 July 2020, the Office of the Public Guardian (the "OPG") launched its online service "Use a lasting power of attorney". This service enables attorneys to prove their status to service providers, such as banks or health care providers, by providing them with online access to a summary of the relevant lasting power of attorney (LPA).
Read moreThe recent case of Re A&C Restoration LLP (Manolete Partners plc v Riches) [2020] EWHC 1404 (Ch) has reconfirmed that directors’ duties can be applied to designated members of LLPs, and also serves as a useful reminder of how these duties are altered in the event of insolvency.
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