Intended to address concerns raised in the wake of the Grenfell Tower tragedy, the Bill had a bumpy ride through Parliament. Attempts to introduce a clause prohibiting remediation costs being passed to leaseholders failed. Much of the Act remains controversial, with concerns over the burden of costs on leaseholders enduring
The recent case of Burnell v Trans-Tag Limited held that a director’s statutory duty to avoid conflicts of interest applied in relation to the director’s acts even when he was no longer a director. Read further for a summary of the case.
There has been substantial publicity as to the plight of leaseholders facing serious safety issues and hefty service charge bills and a call for Government action to meet all the rectification costs. But the issue is not limited to residential buildings. It can equally apply to commercial buildings with cladding and there have been particular issues with student accommodation and hotels.
In recent years there has been a substantial growth in professional negligence claims against solicitors i.e. claims for breach of contract, negligence, trust or fiduciary duty. Insurers have apparently paid out over £2 billion in the last 10 years or so with half of such claims being property related. Premiums have increased as a result.
What better way to find out about the pros and cons, highs and lows of being a director than to ask someone who has done it all? So, we did. Danny kindly agreed to give us an insight into what being a director actually entails, the risks and challenges that directors face and what it takes to be an effective director.
The 31 March 2021 deadline for applications under the previous government-backed COVID-19 loan schemes has well and truly passed, however many businesses still need financial support as they try to recover from the economic effects of the pandemic. The Recovery Loan Scheme (the “Scheme”), announced in the Spring 2021 Budget, aims to do just that. A summary of the Scheme is set out in this article.
Whilst much of the focus on the decarbonisation of the built environment has been on owners and occupiers working together to reduce the operational carbon footprint of buildings, alongside this, we are increasingly hearing about the importance of addressing embodied carbon – the other key factor in establishing the total carbon footprint of a building.
The Companies Act 2006 (CA 2006) provides at section 113 that every company must maintain a register of its members containing certain details of their membership, including their names and addresses.
Becoming a director is a significant step in your career. As a director, you will be responsible for managing the company on a day-to-day basis with the rest of the board and you will have decision-making responsibilities, whether on an individual basis, as part of a committee or at board-level. As such, you will hold a significant amount of power within the company structure.
However, as the cliché goes, with great power comes great responsibility, and it is important that as a proposed director you are aware of your duties and potential liabilities in office.
After what seems like a very long journey, and much campaigning over the years, it seems like the wait will be finally over on 6 April 2022.
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