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A statutory demand is a formal, legally prescribed notice demanding payment of a debt. With strict deadlines and a clear warning of insolvency action, statutory demands send a powerful message: pay now or face the consequences.  For directors, knowing how to use a statutory demand can make the difference between a swift resolution and a […]

A shareholders’ agreement is one of the most important legal contracts a company can have. Whether you’re a startup founder, investor, or long-term shareholder, understanding how it works can protect your interests, help you avoid disputes, and clarify the expectations between all parties.   In this guide, we’ll break down the essential elements of a

Business partnerships rely on trust, shared goals, and clearly defined responsibilities. So when disagreements arise – whether over money, management, roles, or direction – they can quickly escalate and threaten the future of the business. That’s where legal advice becomes essential.   Whether you’re dealing with a breach of agreement, facing a partnership dispute, or

If you or your company are facing serious financial difficulties and can’t pay your debts (or your debts are greater than the value of your assets), you must comply with UK insolvency law. One key responsibility during such times is to treat all creditors fairly – no preferential payments to friends, family, or favoured suppliers.

Constructive dismissal is a complex but crucial area of employment law that every employee and employer should understand. Not least because it is a serious breach of contract under UK law. For employees, knowing their rights is essential to ensure they aren’t forced to resign due to unfair treatment. For employers, understanding constructive dismissal is

In legal proceedings, settlement negotiations often involve “without prejudice” communications. This protection ensures any discussions or offers made cannot be used as evidence in court, should the matter proceed to trial. However, a crucial variation of this rule, “without prejudice save as to costs”, can have significant implications on the outcome of litigation, particularly when

Without prejudice is frequently used in legal and professional negotiations. Simply put, it is an official term that shields communications from being used as evidence in court proceedings. Its purpose is to encourage open and honest discussions between parties, without fear that what is said or written will be used against them later. In this

A director’s loan account (DLA) is a record of any money a director either borrows from or lends to the company, separate from salary, bonuses, or dividends. The DLA is an essential part of company accounting, especially for small and medium-sized businesses. When operated correctly, it can help the company and its directors manage liquidity,

For directors managing financially distressed companies, a comprehensive understanding of transactions at an undervalue (TUV) is not just beneficial, but crucial, especially when navigating insolvency. In this guide, we delve into transactions at undervalue, emphasising its definition, examples, potential consequences, and the relevant legal framework, particularly within the context of the Insolvency Act 1986. What