Tag Archives: Fladgate LLP

ILN Today Post

Fladgate advises on sale of Fulham Wine Rooms

Fladgate LLP has advised on the sale of the Fulham Wine Rooms (by way of premium lease assignment) on behalf of existing client Investhor Limited to The Little Door Fulham Limited.   The venue will now be closed for refurbishment/ conversion works before opening as a new cocktail bar venue.

The team was led by real estate partner James Fry who has extensive experience in the hotels and leisure sector.

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Fladgate LLP advises on the acquisition of a 6.9 acre development site in Luton

Fladgate LLP has advised London residential developer Strawberry Star on the acquisition of a 6.9 acre development site in Luton. The site has the benefit of planning permission for a mixed-use scheme, including 685 new homes together with a 200-bedroom hotel, retail and leisure facilities, a medical and wellness centre and public realm improvements.

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The beginning of unlimited costs liability for litigation funders?

Litigation funders may be feeling uneasy after the recent High Court decision of Bailey v Glaxosmithkline[1]. Until this decision, funders could justifiably have assumed that they would only be ordered to pay security for costs up to the level of their funding, an application of the so called “Arkin cap”[2]. Foskett J has shown this assumption to be wrong, ordering the claimants’ funder to pay £1.75 million into court as security for the defendant’s costs, a sum well in excess of their £1.2 million funding.

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Trusts v FICs: which is best?

Is a company or a trust the best vehicle to hold family money?

Companies can be used to hold family wealth. Often referred to as Family Investment Companies (FICs), at their simplest they can be seeded with funds by subscribing for shares or, if continued access to family wealth is needed, by way of loan (with any growth in the invested loan funds being the FIC’s assets).

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Are we running out of time to agree cross-border judicial cooperation post-Brexit?

The answer, according to the European Parliament’s recent report on the impact of Brexit on freedom, security and justice, is “yes”.

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Fladgate advises Halkin Management on the acquisition of Central London office premises

Fladgate LLP has again advised Halkin Management Company Limited, a serviced office provider and part of the Kingshott Holdings group, on the acquisition of another large Central London office premises, this time on Lower Thames Street and being part of The Northern & Shell Building, which is owned by Richard Desmond, the proprietor of the Daily Express. The premises are let for 10 years and have a headline rent of around £1.75m.  Rosenblatt acted for the landlord.

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Personal recommendations – when investment advice gets personal

Recent amendments to the scope of the regulated activity of advising on investments now make a distinction between “general advice” and “personal recommendations”. The FCA has recently issued some further guidance (PS18/3: Perimeter guidance on personal recommendations on retail investmentswhich provides some indications of the type of activities which, in the view of the FCA, could be considered to be personal recommendations.

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Attorneys and gifts

The Public Guardian’s new ‘Practice Note PN7: giving gifts’ is a must-read for any attorney appointed under an Enduring or Lasting Power of Attorney, or deputy, faced with the thorny issue of whether they can use the incapable donor’s funds in a transaction which is not for value – such as a payment by way of gift or to meet a person’s needs.

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Restrictive covenants; do they mean I can’t redevelop my property?

Developers often identify land that looks good for development on the face of it, only to discover that there are restrictive covenants preventing the land from being developed or used in the way they would like. This can be incredibly frustrating; especially where the restrictive covenants are historic and the interests they seek to protect appear to be of limited modern relevance.

In this article I will explore what a developer can do when confronted by such a restrictive covenant. I have used “beneficiary” to describe the party with the benefit of the restrictive covenant and “you” to describe the developer.

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A tale of Two Right Feet: indemnity costs for baby business

The tale of Two Right Feet Limited reminds us of the importance of investigating and considering the merits of a claim prior to commencing proceedings, and the dangers of forging ahead with speculative litigation.

In July 2017 a judgment of the High Court of Justice in Two Right Feet Limited (In Liquidation) v National Westminster Bank Plc, Royal Bank of Scotland Plc, KPMG LLP[1] ordered Two Right Feet Limited, an insolvent online baby products business (previously featured on BBC’s Watchdog), to pay indemnity costs of the three defendants.

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