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Commercial Contract

Warranty or representation? The £16.75 million question

The High Court considered whether express warranties in a share purchase agreement could also be representations and therefore found a £16.75 million claim for misrepresentation rather than a £6m claim for breach of contract.

21 February 2013

Corporate

Interested in paying only 10% tax on your share-based gains? Don't miss out – you and your company may still be able to qualify

"Enterprise Management Incentives" or "EMI" - whilst not the catchiest label, this UK share option scheme offers tremendous tax-efficiencies for employees and directors of companies that qualify to use them. Better still, the Government has announced its intention to bring new legislation into force in April 2013 which will extend the even more remarkable "entrepreneurs' relief" tax treatment to certain EMI option shares.

09 January 2013

Annual Review: Asia grows, Europe holds

Asia

Annual Review: Asia grows, Europe holds

Despite a difficult backdrop, European M&A activity remains impressively steady thanks to foreign investment and the increasing appetite for deals from Asia.

12 December 2012

Corporate

Warranty and indemnity insurance: your questions answered

Whilst warranty and indemnity (W&I) insurance has been available for some time, its use in private company acquisitions has become much more established in the past few years.  The increasing need for sellers to achieve clean exits, general caution in the markets and the relatively cheap cost of W&I insurance have made it more attractive than other "deal-deadlock" solutions such as placing sale proceeds in escrow (which locks in the seller's funds) or bank guarantees (which can be administratively time-consuming, expensive and require security).  Our article answers some of the questions we are commonly asked.

15 November 2012

Leisure

Plating up the profits

David Roberts looks at the increasingly converging nature of the leisure industry as it looks to diversify business models in an increasingly competitive market.

18 July 2012